Ksh 1,000,000 loan at Paramount Bank for 3 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,406. Total cost: Ksh 1,238,629 (Ksh 238,629 interest).
Monthly repayment
Ksh 34,406
At 14.47% · 36 payments
Total repayment
Ksh 1,238,629
1.24× the borrowed amount
Total interest
Ksh 238,629
Ksh 17,094 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 286,697 | Ksh 126,180 | Ksh 713,303 |
| Year 2 | Ksh 617,743 | Ksh 208,009 | Ksh 382,257 |
| Year 3 | Ksh 1,000,000 | Ksh 238,629 | 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 3 years would run about Ksh 32,436/month — saving Ksh 70,916 in interest. See the Citibank N.A. Kenya version →