Ksh 2,000,000 loan at Premier Bank Kenya for 3 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 69,448. Total cost: Ksh 2,500,137 (Ksh 500,137 interest).
Monthly repayment
Ksh 69,448
At 15.12% · 36 payments
Total repayment
Ksh 2,500,137
1.25× the borrowed amount
Total interest
Ksh 500,137
Ksh 11,309 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 569,366 | Ksh 264,013 | Ksh 1,430,634 |
| Year 2 | Ksh 1,231,044 | Ksh 435,714 | Ksh 768,956 |
| Year 3 | Ksh 2,000,000 | Ksh 500,137 | 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 3 years would run about Ksh 64,873/month — saving Ksh 164,711 in interest. See the Citibank N.A. Kenya version →