Ksh 1,000,000 loan at Paramount Bank for 5 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 23,513. Total cost: Ksh 1,410,758 (Ksh 410,758 interest).
Monthly repayment
Ksh 23,513
At 14.47% · 60 payments
Total repayment
Ksh 1,410,758
1.41× the borrowed amount
Total interest
Ksh 410,758
Ksh 30,533 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 146,944 | Ksh 135,208 | Ksh 853,056 |
| Year 2 | Ksh 316,619 | Ksh 247,684 | Ksh 683,381 |
| Year 3 | Ksh 512,542 | Ksh 333,913 | Ksh 487,458 |
| Year 4 | Ksh 738,773 | Ksh 389,833 | Ksh 261,227 |
| Year 5 | Ksh 1,000,000 | Ksh 410,758 | 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 5 years would run about Ksh 21,425/month — saving Ksh 125,281 in interest. See the Citibank N.A. Kenya version →