Ksh 2,000,000 loan at Paramount Bank for 5 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 47,025. Total cost: Ksh 2,821,516 (Ksh 821,516 interest).
Monthly repayment
Ksh 47,025
At 14.47% · 60 payments
Total repayment
Ksh 2,821,516
1.41× the borrowed amount
Total interest
Ksh 821,516
Ksh 61,066 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 293,888 | Ksh 270,415 | Ksh 1,706,112 |
| Year 2 | Ksh 633,239 | Ksh 495,368 | Ksh 1,366,761 |
| Year 3 | Ksh 1,025,084 | Ksh 667,825 | Ksh 974,916 |
| Year 4 | Ksh 1,477,546 | Ksh 779,667 | Ksh 522,454 |
| Year 5 | Ksh 2,000,000 | Ksh 821,516 | 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 5 years would run about Ksh 42,849/month — saving Ksh 250,563 in interest. See the Citibank N.A. Kenya version →