Ksh 2,000,000 loan at Paramount Bank for 2 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 96,470. Total cost: Ksh 2,315,290 (Ksh 315,290 interest).
Monthly repayment
Ksh 96,470
At 14.47% · 24 payments
Total repayment
Ksh 2,315,290
1.16× the borrowed amount
Total interest
Ksh 315,290
Ksh 22,116 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 928,206 | Ksh 229,439 | Ksh 1,071,794 |
| Year 2 | Ksh 2,000,000 | Ksh 315,290 | 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 2 years would run about Ksh 92,623/month — saving Ksh 92,350 in interest. See the Citibank N.A. Kenya version →