Ksh 5,000,000 loan at Paramount Bank for 1 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 5,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 450,042. Total cost: Ksh 5,400,505 (Ksh 400,505 interest).
Monthly repayment
Ksh 450,042
At 14.47% · 12 payments
Total repayment
Ksh 5,400,505
1.08× the borrowed amount
Total interest
Ksh 400,505
Ksh 27,459 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 5,000,000 | Ksh 400,505 | 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 5,000,000 loan over 1 years would run about Ksh 440,417/month — saving Ksh 115,500 in interest. See the Citibank N.A. Kenya version →