Ksh 1,000,000 loan at Premier Bank Kenya for 2 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 48,544. Total cost: Ksh 1,165,048 (Ksh 165,048 interest).
Monthly repayment
Ksh 48,544
At 15.12% · 24 payments
Total repayment
Ksh 1,165,048
1.17× the borrowed amount
Total interest
Ksh 165,048
Ksh 3,655 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 462,507 | Ksh 120,018 | Ksh 537,493 |
| Year 2 | Ksh 1,000,000 | Ksh 165,048 | 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 2 years would run about Ksh 46,311/month — saving Ksh 53,578 in interest. See the Citibank N.A. Kenya version →