Ksh 2,000,000 loan at Premier Bank Kenya for 15 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 28,156. Total cost: Ksh 5,068,136 (Ksh 3,068,135 interest).
Monthly repayment
Ksh 28,156
At 15.12% · 180 payments
Total repayment
Ksh 5,068,136
2.53× the borrowed amount
Total interest
Ksh 3,068,135
Ksh 79,309 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 38,040 | Ksh 299,835 | Ksh 1,961,960 |
| Year 2 | Ksh 82,248 | Ksh 593,503 | Ksh 1,917,752 |
| Year 3 | Ksh 133,624 | Ksh 880,003 | Ksh 1,866,376 |
| Year 4 | Ksh 193,329 | Ksh 1,158,174 | Ksh 1,806,671 |
| Year 5 | Ksh 262,714 | Ksh 1,426,665 | Ksh 1,737,286 |
| Year 6 | Ksh 343,348 | Ksh 1,683,906 | Ksh 1,656,652 |
| Year 7 | Ksh 437,056 | Ksh 1,928,074 | Ksh 1,562,944 |
| Year 8 | Ksh 545,956 | Ksh 2,157,049 | Ksh 1,454,044 |
| Year 9 | Ksh 672,513 | Ksh 2,368,368 | Ksh 1,327,487 |
| Year 10 | Ksh 819,589 | Ksh 2,559,168 | Ksh 1,180,411 |
| Year 11 | Ksh 990,510 | Ksh 2,726,123 | Ksh 1,009,490 |
| Year 12 | Ksh 1,189,143 | Ksh 2,865,366 | Ksh 810,857 |
| Year 13 | Ksh 1,419,980 | Ksh 2,972,404 | Ksh 580,020 |
| Year 14 | Ksh 1,688,243 | Ksh 3,042,016 | Ksh 311,757 |
| Year 15 | Ksh 2,000,000 | Ksh 3,068,135 | 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 15 years would run about Ksh 21,935/month — saving Ksh 1,119,887 in interest. See the Citibank N.A. Kenya version →