Ksh 500,000 loan at Prime Bank for 5 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 12,103. Total cost: Ksh 726,199 (Ksh 226,199 interest).
Monthly repayment
Ksh 12,103
At 15.79% · 60 payments
Total repayment
Ksh 726,199
1.45× the borrowed amount
Total interest
Ksh 226,199
Ksh 5,553 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 71,304 | Ksh 73,936 | Ksh 428,696 |
| Year 2 | Ksh 154,718 | Ksh 135,761 | Ksh 345,282 |
| Year 3 | Ksh 252,300 | Ksh 183,419 | Ksh 247,700 |
| Year 4 | Ksh 366,456 | Ksh 214,503 | Ksh 133,544 |
| Year 5 | Ksh 500,000 | Ksh 226,199 | 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 5 years would run about Ksh 10,712/month — saving Ksh 83,460 in interest. See the Citibank N.A. Kenya version →