Ksh 5,000,000 loan at Prime Bank for 15 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 72,704. Total cost: Ksh 13,086,770 (Ksh 8,086,770 interest).
Monthly repayment
Ksh 72,704
At 15.79% · 180 payments
Total repayment
Ksh 13,086,770
2.62× the borrowed amount
Total interest
Ksh 8,086,770
Ksh 218,160 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 89,226 | Ksh 783,225 | Ksh 4,910,774 |
| Year 2 | Ksh 193,606 | Ksh 1,551,296 | Ksh 4,806,394 |
| Year 3 | Ksh 315,715 | Ksh 2,301,639 | Ksh 4,684,285 |
| Year 4 | Ksh 458,563 | Ksh 3,031,242 | Ksh 4,541,437 |
| Year 5 | Ksh 625,673 | Ksh 3,736,584 | Ksh 4,374,327 |
| Year 6 | Ksh 821,165 | Ksh 4,413,543 | Ksh 4,178,835 |
| Year 7 | Ksh 1,049,861 | Ksh 5,057,298 | Ksh 3,950,139 |
| Year 8 | Ksh 1,317,399 | Ksh 5,662,212 | Ksh 3,682,601 |
| Year 9 | Ksh 1,630,377 | Ksh 6,221,685 | Ksh 3,369,623 |
| Year 10 | Ksh 1,996,512 | Ksh 6,728,001 | Ksh 3,003,488 |
| Year 11 | Ksh 2,424,833 | Ksh 7,172,132 | Ksh 2,575,167 |
| Year 12 | Ksh 2,925,902 | Ksh 7,543,514 | Ksh 2,074,098 |
| Year 13 | Ksh 3,512,074 | Ksh 7,829,794 | Ksh 1,487,926 |
| Year 14 | Ksh 4,197,804 | Ksh 8,016,515 | Ksh 802,196 |
| Year 15 | Ksh 5,000,000 | Ksh 8,086,770 | 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 15 years would run about Ksh 54,837/month — saving Ksh 3,216,151 in interest. See the Citibank N.A. Kenya version →