Ksh 5,000,000 loan at Prime Bank for 10 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 83,103. Total cost: Ksh 9,972,407 (Ksh 4,972,406 interest).
Monthly repayment
Ksh 83,103
At 15.79% · 120 payments
Total repayment
Ksh 9,972,407
1.99× the borrowed amount
Total interest
Ksh 4,972,406
Ksh 130,004 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 223,454 | Ksh 773,786 | Ksh 4,776,546 |
| Year 2 | Ksh 484,861 | Ksh 1,509,620 | Ksh 4,515,139 |
| Year 3 | Ksh 790,666 | Ksh 2,201,056 | Ksh 4,209,334 |
| Year 4 | Ksh 1,148,410 | Ksh 2,840,552 | Ksh 3,851,590 |
| Year 5 | Ksh 1,566,915 | Ksh 3,419,289 | Ksh 3,433,085 |
| Year 6 | Ksh 2,056,500 | Ksh 3,926,944 | Ksh 2,943,500 |
| Year 7 | Ksh 2,629,238 | Ksh 4,351,447 | Ksh 2,370,762 |
| Year 8 | Ksh 3,299,251 | Ksh 4,678,674 | Ksh 1,700,749 |
| Year 9 | Ksh 4,083,063 | Ksh 4,892,103 | Ksh 916,937 |
| Year 10 | Ksh 5,000,000 | Ksh 4,972,406 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 1,923,269 in interest. See the Citibank N.A. Kenya version →