Ksh 500,000 loan at Paramount Bank for 3 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,203. Total cost: Ksh 619,314 (Ksh 119,314 interest).
Monthly repayment
Ksh 17,203
At 14.47% · 36 payments
Total repayment
Ksh 619,314
1.24× the borrowed amount
Total interest
Ksh 119,314
Ksh 8,547 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 143,348 | Ksh 63,090 | Ksh 356,652 |
| Year 2 | Ksh 308,871 | Ksh 104,005 | Ksh 191,129 |
| Year 3 | Ksh 500,000 | Ksh 119,314 | 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 3 years would run about Ksh 16,218/month — saving Ksh 35,458 in interest. See the Citibank N.A. Kenya version →