Ksh 500,000 loan at Paramount Bank for 2 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,118. Total cost: Ksh 578,823 (Ksh 78,823 interest).
Monthly repayment
Ksh 24,118
At 14.47% · 24 payments
Total repayment
Ksh 578,823
1.16× the borrowed amount
Total interest
Ksh 78,823
Ksh 5,529 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 232,052 | Ksh 57,360 | Ksh 267,948 |
| Year 2 | Ksh 500,000 | Ksh 78,823 | 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 500,000 loan over 2 years would run about Ksh 23,156/month — saving Ksh 23,087 in interest. See the Citibank N.A. Kenya version →