Ksh 2,000,000 loan at Prime Bank for 2 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 97,726. Total cost: Ksh 2,345,416 (Ksh 345,416 interest).
Monthly repayment
Ksh 97,726
At 15.79% · 24 payments
Total repayment
Ksh 2,345,416
1.17× the borrowed amount
Total interest
Ksh 345,416
Ksh 8,010 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 921,725 | Ksh 250,983 | Ksh 1,078,275 |
| Year 2 | Ksh 2,000,000 | Ksh 345,416 | 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 2 years would run about Ksh 92,623/month — saving Ksh 122,475 in interest. See the Citibank N.A. Kenya version →