Ksh 10,000,000 loan at Premier Bank Kenya for 10 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 162,071. Total cost: Ksh 19,448,473 (Ksh 9,448,473 interest).
Monthly repayment
Ksh 162,071
At 15.12% · 120 payments
Total repayment
Ksh 19,448,473
1.94× the borrowed amount
Total interest
Ksh 9,448,473
Ksh 236,331 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 464,140 | Ksh 1,480,707 | Ksh 9,535,860 |
| Year 2 | Ksh 1,003,531 | Ksh 2,886,163 | Ksh 8,996,469 |
| Year 3 | Ksh 1,630,375 | Ksh 4,204,167 | Ksh 8,369,625 |
| Year 4 | Ksh 2,358,849 | Ksh 5,420,540 | Ksh 7,641,151 |
| Year 5 | Ksh 3,205,431 | Ksh 6,518,805 | Ksh 6,794,569 |
| Year 6 | Ksh 4,189,271 | Ksh 7,479,813 | Ksh 5,810,729 |
| Year 7 | Ksh 5,332,622 | Ksh 8,281,310 | Ksh 4,667,378 |
| Year 8 | Ksh 6,661,345 | Ksh 8,897,434 | Ksh 3,338,655 |
| Year 9 | Ksh 8,205,495 | Ksh 9,298,131 | Ksh 1,794,505 |
| Year 10 | Ksh 10,000,000 | Ksh 9,448,473 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 3,350,199 in interest. See the Citibank N.A. Kenya version →