Ksh 1,000,000 loan at Paramount Bank for 25 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 12,399. Total cost: Ksh 3,719,553 (Ksh 2,719,553 interest).
Monthly repayment
Ksh 12,399
At 14.47% · 300 payments
Total repayment
Ksh 3,719,553
3.72× the borrowed amount
Total interest
Ksh 2,719,553
Ksh 225,636 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 4,364 | Ksh 144,418 | Ksh 995,636 |
| Year 2 | Ksh 9,403 | Ksh 288,161 | Ksh 990,597 |
| Year 3 | Ksh 15,222 | Ksh 431,125 | Ksh 984,778 |
| Year 4 | Ksh 21,941 | Ksh 573,188 | Ksh 978,059 |
| Year 5 | Ksh 29,699 | Ksh 714,212 | Ksh 970,301 |
| Year 6 | Ksh 38,657 | Ksh 854,036 | Ksh 961,343 |
| Year 7 | Ksh 49,001 | Ksh 992,474 | Ksh 950,999 |
| Year 8 | Ksh 60,945 | Ksh 1,129,312 | Ksh 939,055 |
| Year 9 | Ksh 74,737 | Ksh 1,264,302 | Ksh 925,263 |
| Year 10 | Ksh 90,662 | Ksh 1,397,159 | Ksh 909,338 |
| Year 11 | Ksh 109,051 | Ksh 1,527,552 | Ksh 890,949 |
| Year 12 | Ksh 130,285 | Ksh 1,655,101 | Ksh 869,715 |
| Year 13 | Ksh 154,803 | Ksh 1,779,365 | Ksh 845,197 |
| Year 14 | Ksh 183,114 | Ksh 1,899,836 | Ksh 816,886 |
| Year 15 | Ksh 215,804 | Ksh 2,015,928 | Ksh 784,196 |
| Year 16 | Ksh 253,552 | Ksh 2,126,963 | Ksh 746,448 |
| Year 17 | Ksh 297,138 | Ksh 2,232,158 | Ksh 702,862 |
| Year 18 | Ksh 347,468 | Ksh 2,330,611 | Ksh 652,532 |
| Year 19 | Ksh 405,582 | Ksh 2,421,278 | Ksh 594,418 |
| Year 20 | Ksh 472,687 | Ksh 2,502,955 | Ksh 527,313 |
| Year 21 | Ksh 550,173 | Ksh 2,574,252 | Ksh 449,827 |
| Year 22 | Ksh 639,645 | Ksh 2,633,562 | Ksh 360,355 |
| Year 23 | Ksh 742,957 | Ksh 2,679,032 | Ksh 257,043 |
| Year 24 | Ksh 862,252 | Ksh 2,708,520 | Ksh 137,748 |
| Year 25 | Ksh 1,000,000 | Ksh 2,719,553 | 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 25 years would run about Ksh 9,342/month — saving Ksh 916,952 in interest. See the Citibank N.A. Kenya version →