Ksh 5,000,000 loan at Prime Bank for 5 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 121,033. Total cost: Ksh 7,261,985 (Ksh 2,261,986 interest).
Monthly repayment
Ksh 121,033
At 15.79% · 60 payments
Total repayment
Ksh 7,261,985
1.45× the borrowed amount
Total interest
Ksh 2,261,986
Ksh 55,531 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 713,039 | Ksh 739,358 | Ksh 4,286,961 |
| Year 2 | Ksh 1,547,184 | Ksh 1,357,610 | Ksh 3,452,816 |
| Year 3 | Ksh 2,523,003 | Ksh 1,834,188 | Ksh 2,476,997 |
| Year 4 | Ksh 3,664,558 | Ksh 2,145,030 | Ksh 1,335,442 |
| Year 5 | Ksh 5,000,000 | Ksh 2,261,986 | 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 5 years would run about Ksh 107,123/month — saving Ksh 834,602 in interest. See the Citibank N.A. Kenya version →