Ksh 1,000,000 loan at Paramount Bank for 1 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 90,008. Total cost: Ksh 1,080,101 (Ksh 80,101 interest).
Monthly repayment
Ksh 90,008
At 14.47% · 12 payments
Total repayment
Ksh 1,080,101
1.08× the borrowed amount
Total interest
Ksh 80,101
Ksh 5,492 less 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 1,000,000 | Ksh 80,101 | 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 1,000,000 loan over 1 years would run about Ksh 88,083/month — saving Ksh 23,100 in interest. See the Citibank N.A. Kenya version →