Ksh 2,000,000 loan at Paramount Bank for 3 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 68,813. Total cost: Ksh 2,477,257 (Ksh 477,257 interest).
Monthly repayment
Ksh 68,813
At 14.47% · 36 payments
Total repayment
Ksh 2,477,257
1.24× the borrowed amount
Total interest
Ksh 477,257
Ksh 34,188 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 573,393 | Ksh 252,359 | Ksh 1,426,607 |
| Year 2 | Ksh 1,235,486 | Ksh 416,019 | Ksh 764,514 |
| Year 3 | Ksh 2,000,000 | Ksh 477,257 | 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 3 years would run about Ksh 64,873/month — saving Ksh 141,831 in interest. See the Citibank N.A. Kenya version →