Ksh 2,000,000 loan at Prime Bank for 15 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 29,082. Total cost: Ksh 5,234,708 (Ksh 3,234,708 interest).
Monthly repayment
Ksh 29,082
At 15.79% · 180 payments
Total repayment
Ksh 5,234,708
2.62× the borrowed amount
Total interest
Ksh 3,234,708
Ksh 87,264 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 35,690 | Ksh 313,290 | Ksh 1,964,310 |
| Year 2 | Ksh 77,442 | Ksh 620,519 | Ksh 1,922,558 |
| Year 3 | Ksh 126,286 | Ksh 920,656 | Ksh 1,873,714 |
| Year 4 | Ksh 183,425 | Ksh 1,212,497 | Ksh 1,816,575 |
| Year 5 | Ksh 250,269 | Ksh 1,494,634 | Ksh 1,749,731 |
| Year 6 | Ksh 328,466 | Ksh 1,765,417 | Ksh 1,671,534 |
| Year 7 | Ksh 419,944 | Ksh 2,022,919 | Ksh 1,580,056 |
| Year 8 | Ksh 526,960 | Ksh 2,264,885 | Ksh 1,473,040 |
| Year 9 | Ksh 652,151 | Ksh 2,488,674 | Ksh 1,347,849 |
| Year 10 | Ksh 798,605 | Ksh 2,691,200 | Ksh 1,201,395 |
| Year 11 | Ksh 969,933 | Ksh 2,868,853 | Ksh 1,030,067 |
| Year 12 | Ksh 1,170,361 | Ksh 3,017,406 | Ksh 829,639 |
| Year 13 | Ksh 1,404,830 | Ksh 3,131,917 | Ksh 595,170 |
| Year 14 | Ksh 1,679,121 | Ksh 3,206,606 | Ksh 320,879 |
| Year 15 | Ksh 2,000,000 | Ksh 3,234,708 | 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 15 years would run about Ksh 21,935/month — saving Ksh 1,286,460 in interest. See the Citibank N.A. Kenya version →