Ksh 2,000,000 loan at Prime Bank for 3 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 70,107. Total cost: Ksh 2,523,848 (Ksh 523,848 interest).
Monthly repayment
Ksh 70,107
At 15.79% · 36 payments
Total repayment
Ksh 2,523,848
1.26× the borrowed amount
Total interest
Ksh 523,848
Ksh 12,403 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 565,231 | Ksh 276,052 | Ksh 1,434,769 |
| Year 2 | Ksh 1,226,462 | Ksh 456,103 | Ksh 773,538 |
| Year 3 | Ksh 2,000,000 | Ksh 523,848 | 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 3 years would run about Ksh 64,873/month — saving Ksh 188,422 in interest. See the Citibank N.A. Kenya version →