Ksh 10,000,000 loan at Premier Bank Kenya for 5 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 238,530. Total cost: Ksh 14,311,780 (Ksh 4,311,780 interest).
Monthly repayment
Ksh 238,530
At 15.12% · 60 payments
Total repayment
Ksh 14,311,780
1.43× the borrowed amount
Total interest
Ksh 4,311,780
Ksh 101,129 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 1,447,980 | Ksh 1,414,376 | Ksh 8,552,020 |
| Year 2 | Ksh 3,130,722 | Ksh 2,593,990 | Ksh 6,869,278 |
| Year 3 | Ksh 5,086,288 | Ksh 3,500,780 | Ksh 4,913,712 |
| Year 4 | Ksh 7,358,913 | Ksh 4,090,511 | Ksh 2,641,087 |
| Year 5 | Ksh 10,000,000 | Ksh 4,311,780 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,457,012 in interest. See the Citibank N.A. Kenya version →