Ksh 2,000,000 loan at Premier Bank Kenya for 1 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 2,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 180,630. Total cost: Ksh 2,167,559 (Ksh 167,559 interest).
Monthly repayment
Ksh 180,630
At 15.12% · 12 payments
Total repayment
Ksh 2,167,559
1.08× the borrowed amount
Total interest
Ksh 167,559
Ksh 3,627 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 2,000,000 | Ksh 167,559 | 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 2,000,000 loan over 1 years would run about Ksh 176,167/month — saving Ksh 53,557 in interest. See the Citibank N.A. Kenya version →