Ksh 5,000,000 loan at Paramount Bank for 3 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 172,032. Total cost: Ksh 6,193,143 (Ksh 1,193,143 interest).
Monthly repayment
Ksh 172,032
At 14.47% · 36 payments
Total repayment
Ksh 6,193,143
1.24× the borrowed amount
Total interest
Ksh 1,193,143
Ksh 85,471 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 1,433,483 | Ksh 630,898 | Ksh 3,566,517 |
| Year 2 | Ksh 3,088,715 | Ksh 1,040,047 | Ksh 1,911,285 |
| Year 3 | Ksh 5,000,000 | Ksh 1,193,143 | 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 3 years would run about Ksh 162,182/month — saving Ksh 354,578 in interest. See the Citibank N.A. Kenya version →