Ksh 10,000,000 loan at Paramount Bank for 5 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 235,126. Total cost: Ksh 14,107,580 (Ksh 4,107,580 interest).
Monthly repayment
Ksh 235,126
At 14.47% · 60 payments
Total repayment
Ksh 14,107,580
1.41× the borrowed amount
Total interest
Ksh 4,107,580
Ksh 305,329 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 1,469,441 | Ksh 1,352,076 | Ksh 8,530,559 |
| Year 2 | Ksh 3,166,193 | Ksh 2,476,839 | Ksh 6,833,807 |
| Year 3 | Ksh 5,125,422 | Ksh 3,339,126 | Ksh 4,874,578 |
| Year 4 | Ksh 7,387,729 | Ksh 3,898,335 | Ksh 2,612,271 |
| Year 5 | Ksh 10,000,000 | Ksh 4,107,580 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,252,813 in interest. See the Citibank N.A. Kenya version →