Ksh 500,000 loan at Prime Bank for 15 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 7,270. Total cost: Ksh 1,308,677 (Ksh 808,677 interest).
Monthly repayment
Ksh 7,270
At 15.79% · 180 payments
Total repayment
Ksh 1,308,677
2.62× the borrowed amount
Total interest
Ksh 808,677
Ksh 21,816 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 8,923 | Ksh 78,323 | Ksh 491,077 |
| Year 2 | Ksh 19,361 | Ksh 155,130 | Ksh 480,639 |
| Year 3 | Ksh 31,571 | Ksh 230,164 | Ksh 468,429 |
| Year 4 | Ksh 45,856 | Ksh 303,124 | Ksh 454,144 |
| Year 5 | Ksh 62,567 | Ksh 373,658 | Ksh 437,433 |
| Year 6 | Ksh 82,117 | Ksh 441,354 | Ksh 417,883 |
| Year 7 | Ksh 104,986 | Ksh 505,730 | Ksh 395,014 |
| Year 8 | Ksh 131,740 | Ksh 566,221 | Ksh 368,260 |
| Year 9 | Ksh 163,038 | Ksh 622,169 | Ksh 336,962 |
| Year 10 | Ksh 199,651 | Ksh 672,800 | Ksh 300,349 |
| Year 11 | Ksh 242,483 | Ksh 717,213 | Ksh 257,517 |
| Year 12 | Ksh 292,590 | Ksh 754,351 | Ksh 207,410 |
| Year 13 | Ksh 351,207 | Ksh 782,979 | Ksh 148,793 |
| Year 14 | Ksh 419,780 | Ksh 801,652 | Ksh 80,220 |
| Year 15 | Ksh 500,000 | Ksh 808,677 | 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 15 years would run about Ksh 5,484/month — saving Ksh 321,615 in interest. See the Citibank N.A. Kenya version →