Ksh 10,000,000 loan at Paramount Bank for 3 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 344,063. Total cost: Ksh 12,386,285 (Ksh 2,386,285 interest).
Monthly repayment
Ksh 344,063
At 14.47% · 36 payments
Total repayment
Ksh 12,386,285
1.24× the borrowed amount
Total interest
Ksh 2,386,285
Ksh 170,942 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 2,866,965 | Ksh 1,261,797 | Ksh 7,133,035 |
| Year 2 | Ksh 6,177,430 | Ksh 2,080,094 | Ksh 3,822,570 |
| Year 3 | Ksh 10,000,000 | Ksh 2,386,285 | 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 10,000,000 loan over 3 years would run about Ksh 324,365/month — saving Ksh 709,156 in interest. See the Citibank N.A. Kenya version →