Ksh 5,000,000 loan at Paramount Bank for 5 years.
At Paramount Bank's current lending rate of 14.47%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 117,563. Total cost: Ksh 7,053,790 (Ksh 2,053,790 interest).
Monthly repayment
Ksh 117,563
At 14.47% · 60 payments
Total repayment
Ksh 7,053,790
1.41× the borrowed amount
Total interest
Ksh 2,053,790
Ksh 152,664 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 734,720 | Ksh 676,038 | Ksh 4,265,280 |
| Year 2 | Ksh 1,583,097 | Ksh 1,238,419 | Ksh 3,416,903 |
| Year 3 | Ksh 2,562,711 | Ksh 1,669,563 | Ksh 2,437,289 |
| Year 4 | Ksh 3,693,865 | Ksh 1,949,167 | Ksh 1,306,135 |
| Year 5 | Ksh 5,000,000 | Ksh 2,053,790 | 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 5 years would run about Ksh 107,123/month — saving Ksh 626,406 in interest. See the Citibank N.A. Kenya version →