Ksh 2,000,000 loan at Prime Bank for 5 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 48,413. Total cost: Ksh 2,904,794 (Ksh 904,794 interest).
Monthly repayment
Ksh 48,413
At 15.79% · 60 payments
Total repayment
Ksh 2,904,794
1.45× the borrowed amount
Total interest
Ksh 904,794
Ksh 22,212 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 285,216 | Ksh 295,743 | Ksh 1,714,784 |
| Year 2 | Ksh 618,874 | Ksh 543,044 | Ksh 1,381,126 |
| Year 3 | Ksh 1,009,201 | Ksh 733,675 | Ksh 990,799 |
| Year 4 | Ksh 1,465,823 | Ksh 858,012 | Ksh 534,177 |
| Year 5 | Ksh 2,000,000 | Ksh 904,794 | 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 5 years would run about Ksh 42,849/month — saving Ksh 333,841 in interest. See the Citibank N.A. Kenya version →