Ksh 1,000,000 loan at Premier Bank Kenya for 20 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 13,257. Total cost: Ksh 3,181,596 (Ksh 2,181,595 interest).
Monthly repayment
Ksh 13,257
At 15.12% · 240 payments
Total repayment
Ksh 3,181,596
3.18× the borrowed amount
Total interest
Ksh 2,181,595
Ksh 56,999 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 8,449 | Ksh 150,630 | Ksh 991,551 |
| Year 2 | Ksh 18,269 | Ksh 299,891 | Ksh 981,731 |
| Year 3 | Ksh 29,680 | Ksh 447,559 | Ksh 970,320 |
| Year 4 | Ksh 42,942 | Ksh 593,377 | Ksh 957,058 |
| Year 5 | Ksh 58,353 | Ksh 737,046 | Ksh 941,647 |
| Year 6 | Ksh 76,264 | Ksh 878,215 | Ksh 923,736 |
| Year 7 | Ksh 97,078 | Ksh 1,016,481 | Ksh 902,922 |
| Year 8 | Ksh 121,266 | Ksh 1,151,372 | Ksh 878,734 |
| Year 9 | Ksh 149,377 | Ksh 1,282,341 | Ksh 850,623 |
| Year 10 | Ksh 182,045 | Ksh 1,408,753 | Ksh 817,955 |
| Year 11 | Ksh 220,010 | Ksh 1,529,868 | Ksh 779,990 |
| Year 12 | Ksh 264,129 | Ksh 1,644,828 | Ksh 735,871 |
| Year 13 | Ksh 315,402 | Ksh 1,752,635 | Ksh 684,598 |
| Year 14 | Ksh 374,988 | Ksh 1,852,129 | Ksh 625,012 |
| Year 15 | Ksh 444,235 | Ksh 1,941,962 | Ksh 555,765 |
| Year 16 | Ksh 524,709 | Ksh 2,020,568 | Ksh 475,291 |
| Year 17 | Ksh 618,229 | Ksh 2,086,127 | Ksh 381,771 |
| Year 18 | Ksh 726,913 | Ksh 2,136,523 | Ksh 273,087 |
| Year 19 | Ksh 853,218 | Ksh 2,169,298 | Ksh 146,782 |
| Year 20 | Ksh 1,000,000 | Ksh 2,181,595 | 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 20 years would run about Ksh 9,890/month — saving Ksh 808,011 in interest. See the Citibank N.A. Kenya version →