Ksh 5,000,000 loan at Paramount Bank for 2 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 241,176. Total cost: Ksh 5,788,226 (Ksh 788,226 interest).
Monthly repayment
Ksh 241,176
At 14.47% · 24 payments
Total repayment
Ksh 5,788,226
1.16× the borrowed amount
Total interest
Ksh 788,226
Ksh 55,289 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 2,320,516 | Ksh 573,597 | Ksh 2,679,484 |
| Year 2 | Ksh 5,000,000 | Ksh 788,226 | 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 2 years would run about Ksh 231,556/month — saving Ksh 230,875 in interest. See the Citibank N.A. Kenya version →