Ksh 500,000 loan at Prime Bank for 20 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 6,878. Total cost: Ksh 1,650,629 (Ksh 1,150,630 interest).
Monthly repayment
Ksh 6,878
At 15.79% · 240 payments
Total repayment
Ksh 1,650,629
3.30× the borrowed amount
Total interest
Ksh 1,150,630
Ksh 31,332 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 3,852 | Ksh 78,679 | Ksh 496,148 |
| Year 2 | Ksh 8,359 | Ksh 156,704 | Ksh 491,641 |
| Year 3 | Ksh 13,631 | Ksh 233,963 | Ksh 486,369 |
| Year 4 | Ksh 19,799 | Ksh 310,327 | Ksh 480,201 |
| Year 5 | Ksh 27,014 | Ksh 385,644 | Ksh 472,986 |
| Year 6 | Ksh 35,454 | Ksh 459,735 | Ksh 464,546 |
| Year 7 | Ksh 45,328 | Ksh 532,392 | Ksh 454,672 |
| Year 8 | Ksh 56,880 | Ksh 603,372 | Ksh 443,120 |
| Year 9 | Ksh 70,393 | Ksh 672,391 | Ksh 429,607 |
| Year 10 | Ksh 86,201 | Ksh 739,114 | Ksh 413,799 |
| Year 11 | Ksh 104,694 | Ksh 803,152 | Ksh 395,306 |
| Year 12 | Ksh 126,328 | Ksh 864,050 | Ksh 373,672 |
| Year 13 | Ksh 151,636 | Ksh 921,273 | Ksh 348,364 |
| Year 14 | Ksh 181,243 | Ksh 974,198 | Ksh 318,757 |
| Year 15 | Ksh 215,878 | Ksh 1,022,094 | Ksh 284,122 |
| Year 16 | Ksh 256,396 | Ksh 1,064,107 | Ksh 243,604 |
| Year 17 | Ksh 303,796 | Ksh 1,099,239 | Ksh 196,204 |
| Year 18 | Ksh 359,246 | Ksh 1,126,320 | Ksh 140,754 |
| Year 19 | Ksh 424,114 | Ksh 1,143,984 | Ksh 75,886 |
| Year 20 | Ksh 500,000 | Ksh 1,150,630 | 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 20 years would run about Ksh 4,945/month — saving Ksh 463,837 in interest. See the Citibank N.A. Kenya version →