Ksh 500,000 loan at Prime Bank for 2 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,431. Total cost: Ksh 586,354 (Ksh 86,354 interest).
Monthly repayment
Ksh 24,431
At 15.79% · 24 payments
Total repayment
Ksh 586,354
1.17× the borrowed amount
Total interest
Ksh 86,354
Ksh 2,002 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 230,431 | Ksh 62,746 | Ksh 269,569 |
| Year 2 | Ksh 500,000 | Ksh 86,354 | 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 2 years would run about Ksh 23,156/month — saving Ksh 30,619 in interest. See the Citibank N.A. Kenya version →