Ksh 500,000 loan at Prime Bank for 3 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,527. Total cost: Ksh 630,962 (Ksh 130,962 interest).
Monthly repayment
Ksh 17,527
At 15.79% · 36 payments
Total repayment
Ksh 630,962
1.26× the borrowed amount
Total interest
Ksh 130,962
Ksh 3,101 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 141,308 | Ksh 69,013 | Ksh 358,692 |
| Year 2 | Ksh 306,616 | Ksh 114,026 | Ksh 193,384 |
| Year 3 | Ksh 500,000 | Ksh 130,962 | 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 3 years would run about Ksh 16,218/month — saving Ksh 47,106 in interest. See the Citibank N.A. Kenya version →