Ksh 500,000 loan at Prime Bank for 10 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,310. Total cost: Ksh 997,241 (Ksh 497,241 interest).
Monthly repayment
Ksh 8,310
At 15.79% · 120 payments
Total repayment
Ksh 997,241
1.99× the borrowed amount
Total interest
Ksh 497,241
Ksh 13,000 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 22,345 | Ksh 77,379 | Ksh 477,655 |
| Year 2 | Ksh 48,486 | Ksh 150,962 | Ksh 451,514 |
| Year 3 | Ksh 79,067 | Ksh 220,106 | Ksh 420,933 |
| Year 4 | Ksh 114,841 | Ksh 284,055 | Ksh 385,159 |
| Year 5 | Ksh 156,691 | Ksh 341,929 | Ksh 343,309 |
| Year 6 | Ksh 205,650 | Ksh 392,694 | Ksh 294,350 |
| Year 7 | Ksh 262,924 | Ksh 435,145 | Ksh 237,076 |
| Year 8 | Ksh 329,925 | Ksh 467,867 | Ksh 170,075 |
| Year 9 | Ksh 408,306 | Ksh 489,210 | Ksh 91,694 |
| Year 10 | Ksh 500,000 | Ksh 497,241 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 192,327 in interest. See the Citibank N.A. Kenya version →