Ksh 5,000,000 loan at Prime Bank for 3 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 175,267. Total cost: Ksh 6,309,620 (Ksh 1,309,620 interest).
Monthly repayment
Ksh 175,267
At 15.79% · 36 payments
Total repayment
Ksh 6,309,620
1.26× the borrowed amount
Total interest
Ksh 1,309,620
Ksh 31,006 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 1,413,077 | Ksh 690,130 | Ksh 3,586,923 |
| Year 2 | Ksh 3,066,156 | Ksh 1,140,257 | Ksh 1,933,844 |
| Year 3 | Ksh 5,000,000 | Ksh 1,309,620 | 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 3 years would run about Ksh 162,182/month — saving Ksh 471,055 in interest. See the Citibank N.A. Kenya version →