Ksh 1,000,000 loan at Paramount Bank for 2 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 48,235. Total cost: Ksh 1,157,645 (Ksh 157,645 interest).
Monthly repayment
Ksh 48,235
At 14.47% · 24 payments
Total repayment
Ksh 1,157,645
1.16× the borrowed amount
Total interest
Ksh 157,645
Ksh 11,058 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 464,103 | Ksh 114,719 | Ksh 535,897 |
| Year 2 | Ksh 1,000,000 | Ksh 157,645 | 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 2 years would run about Ksh 46,311/month — saving Ksh 46,175 in interest. See the Citibank N.A. Kenya version →