Ksh 2,000,000 loan at Paramount Bank for 15 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 27,269. Total cost: Ksh 4,908,478 (Ksh 2,908,478 interest).
Monthly repayment
Ksh 27,269
At 14.47% · 180 payments
Total repayment
Ksh 4,908,478
2.45× the borrowed amount
Total interest
Ksh 2,908,478
Ksh 238,966 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 40,445 | Ksh 286,787 | Ksh 1,959,555 |
| Year 2 | Ksh 87,146 | Ksh 567,318 | Ksh 1,912,854 |
| Year 3 | Ksh 141,071 | Ksh 840,625 | Ksh 1,858,929 |
| Year 4 | Ksh 203,338 | Ksh 1,105,589 | Ksh 1,796,662 |
| Year 5 | Ksh 275,238 | Ksh 1,360,922 | Ksh 1,724,763 |
| Year 6 | Ksh 358,259 | Ksh 1,605,132 | Ksh 1,641,741 |
| Year 7 | Ksh 454,124 | Ksh 1,836,499 | Ksh 1,545,876 |
| Year 8 | Ksh 564,818 | Ksh 2,053,036 | Ksh 1,435,182 |
| Year 9 | Ksh 692,636 | Ksh 2,252,450 | Ksh 1,307,364 |
| Year 10 | Ksh 840,227 | Ksh 2,432,091 | Ksh 1,159,773 |
| Year 11 | Ksh 1,010,649 | Ksh 2,588,902 | Ksh 989,351 |
| Year 12 | Ksh 1,207,433 | Ksh 2,719,349 | Ksh 792,567 |
| Year 13 | Ksh 1,434,660 | Ksh 2,819,354 | Ksh 565,340 |
| Year 14 | Ksh 1,697,036 | Ksh 2,884,210 | Ksh 302,964 |
| Year 15 | Ksh 2,000,000 | Ksh 2,908,478 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 960,230 in interest. See the Citibank N.A. Kenya version →