Ksh 5,000,000 loan at Prime Bank for 2 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 244,314. Total cost: Ksh 5,863,540 (Ksh 863,540 interest).
Monthly repayment
Ksh 244,314
At 15.79% · 24 payments
Total repayment
Ksh 5,863,540
1.17× the borrowed amount
Total interest
Ksh 863,540
Ksh 20,024 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 2,304,313 | Ksh 627,456 | Ksh 2,695,687 |
| Year 2 | Ksh 5,000,000 | Ksh 863,540 | 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 2 years would run about Ksh 231,556/month — saving Ksh 306,188 in interest. See the Citibank N.A. Kenya version →