Ksh 1,000,000 loan at Paramount Bank for 10 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 15,810. Total cost: Ksh 1,897,258 (Ksh 897,257 interest).
Monthly repayment
Ksh 15,810
At 14.47% · 120 payments
Total repayment
Ksh 1,897,258
1.90× the borrowed amount
Total interest
Ksh 897,257
Ksh 71,223 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 48,135 | Ksh 141,591 | Ksh 951,865 |
| Year 2 | Ksh 103,717 | Ksh 275,735 | Ksh 896,283 |
| Year 3 | Ksh 167,896 | Ksh 401,281 | Ksh 832,104 |
| Year 4 | Ksh 242,004 | Ksh 516,899 | Ksh 757,996 |
| Year 5 | Ksh 327,575 | Ksh 621,053 | Ksh 672,425 |
| Year 6 | Ksh 426,384 | Ksh 711,970 | Ksh 573,616 |
| Year 7 | Ksh 540,478 | Ksh 787,602 | Ksh 459,522 |
| Year 8 | Ksh 672,221 | Ksh 845,585 | Ksh 327,779 |
| Year 9 | Ksh 824,344 | Ksh 883,187 | Ksh 175,656 |
| Year 10 | Ksh 1,000,000 | Ksh 897,257 | 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 10 years would run about Ksh 13,415/month — saving Ksh 287,430 in interest. See the Citibank N.A. Kenya version →