Ksh 1,000,000 loan at Premier Bank Kenya for 3 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,724. Total cost: Ksh 1,250,068 (Ksh 250,068 interest).
Monthly repayment
Ksh 34,724
At 15.12% · 36 payments
Total repayment
Ksh 1,250,068
1.25× the borrowed amount
Total interest
Ksh 250,068
Ksh 5,654 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 284,683 | Ksh 132,006 | Ksh 715,317 |
| Year 2 | Ksh 615,522 | Ksh 217,857 | Ksh 384,478 |
| Year 3 | Ksh 1,000,000 | Ksh 250,068 | 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 3 years would run about Ksh 32,436/month — saving Ksh 82,356 in interest. See the Citibank N.A. Kenya version →