Ksh 2,000,000 loan at Prime Bank for 10 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 33,241. Total cost: Ksh 3,988,962 (Ksh 1,988,963 interest).
Monthly repayment
Ksh 33,241
At 15.79% · 120 payments
Total repayment
Ksh 3,988,962
1.99× the borrowed amount
Total interest
Ksh 1,988,963
Ksh 52,002 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 89,382 | Ksh 309,515 | Ksh 1,910,618 |
| Year 2 | Ksh 193,944 | Ksh 603,848 | Ksh 1,806,056 |
| Year 3 | Ksh 316,266 | Ksh 880,422 | Ksh 1,683,734 |
| Year 4 | Ksh 459,364 | Ksh 1,136,221 | Ksh 1,540,636 |
| Year 5 | Ksh 626,766 | Ksh 1,367,715 | Ksh 1,373,234 |
| Year 6 | Ksh 822,600 | Ksh 1,570,778 | Ksh 1,177,400 |
| Year 7 | Ksh 1,051,695 | Ksh 1,740,579 | Ksh 948,305 |
| Year 8 | Ksh 1,319,701 | Ksh 1,871,469 | Ksh 680,299 |
| Year 9 | Ksh 1,633,225 | Ksh 1,956,841 | Ksh 366,775 |
| Year 10 | Ksh 2,000,000 | Ksh 1,988,963 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 769,308 in interest. See the Citibank N.A. Kenya version →