Ksh 1,000,000 loan at Paramount Bank for 15 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 13,635. Total cost: Ksh 2,454,239 (Ksh 1,454,239 interest).
Monthly repayment
Ksh 13,635
At 14.47% · 180 payments
Total repayment
Ksh 2,454,239
2.45× the borrowed amount
Total interest
Ksh 1,454,239
Ksh 119,483 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 20,222 | Ksh 143,394 | Ksh 979,778 |
| Year 2 | Ksh 43,573 | Ksh 283,659 | Ksh 956,427 |
| Year 3 | Ksh 70,535 | Ksh 420,312 | Ksh 929,465 |
| Year 4 | Ksh 101,669 | Ksh 552,795 | Ksh 898,331 |
| Year 5 | Ksh 137,619 | Ksh 680,461 | Ksh 862,381 |
| Year 6 | Ksh 179,130 | Ksh 802,566 | Ksh 820,870 |
| Year 7 | Ksh 227,062 | Ksh 918,249 | Ksh 772,938 |
| Year 8 | Ksh 282,409 | Ksh 1,026,518 | Ksh 717,591 |
| Year 9 | Ksh 346,318 | Ksh 1,126,225 | Ksh 653,682 |
| Year 10 | Ksh 420,113 | Ksh 1,216,046 | Ksh 579,887 |
| Year 11 | Ksh 505,324 | Ksh 1,294,451 | Ksh 494,676 |
| Year 12 | Ksh 603,717 | Ksh 1,359,674 | Ksh 396,283 |
| Year 13 | Ksh 717,330 | Ksh 1,409,677 | Ksh 282,670 |
| Year 14 | Ksh 848,518 | Ksh 1,442,105 | Ksh 151,482 |
| Year 15 | Ksh 1,000,000 | Ksh 1,454,239 | 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 15 years would run about Ksh 10,967/month — saving Ksh 480,115 in interest. See the Citibank N.A. Kenya version →