Ksh 1,000,000 loan at Premier Bank Kenya for 15 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,078. Total cost: Ksh 2,534,067 (Ksh 1,534,068 interest).
Monthly repayment
Ksh 14,078
At 15.12% · 180 payments
Total repayment
Ksh 2,534,067
2.53× the borrowed amount
Total interest
Ksh 1,534,068
Ksh 39,654 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 19,020 | Ksh 149,918 | Ksh 980,980 |
| Year 2 | Ksh 41,124 | Ksh 296,752 | Ksh 958,876 |
| Year 3 | Ksh 66,812 | Ksh 440,002 | Ksh 933,188 |
| Year 4 | Ksh 96,664 | Ksh 579,087 | Ksh 903,336 |
| Year 5 | Ksh 131,357 | Ksh 713,332 | Ksh 868,643 |
| Year 6 | Ksh 171,674 | Ksh 841,953 | Ksh 828,326 |
| Year 7 | Ksh 218,528 | Ksh 964,037 | Ksh 781,472 |
| Year 8 | Ksh 272,978 | Ksh 1,078,525 | Ksh 727,022 |
| Year 9 | Ksh 336,257 | Ksh 1,184,184 | Ksh 663,743 |
| Year 10 | Ksh 409,794 | Ksh 1,279,584 | Ksh 590,206 |
| Year 11 | Ksh 495,255 | Ksh 1,363,061 | Ksh 504,745 |
| Year 12 | Ksh 594,571 | Ksh 1,432,683 | Ksh 405,429 |
| Year 13 | Ksh 709,990 | Ksh 1,486,202 | Ksh 290,010 |
| Year 14 | Ksh 844,122 | Ksh 1,521,008 | Ksh 155,878 |
| Year 15 | Ksh 1,000,000 | Ksh 1,534,068 | 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 1,000,000 loan over 15 years would run about Ksh 10,967/month — saving Ksh 559,944 in interest. See the Citibank N.A. Kenya version →