Ksh 2,000,000 loan at Premier Bank Kenya for 5 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 47,706. Total cost: Ksh 2,862,356 (Ksh 862,356 interest).
Monthly repayment
Ksh 47,706
At 15.12% · 60 payments
Total repayment
Ksh 2,862,356
1.43× the borrowed amount
Total interest
Ksh 862,356
Ksh 20,226 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 289,596 | Ksh 282,875 | Ksh 1,710,404 |
| Year 2 | Ksh 626,144 | Ksh 518,798 | Ksh 1,373,856 |
| Year 3 | Ksh 1,017,258 | Ksh 700,156 | Ksh 982,742 |
| Year 4 | Ksh 1,471,783 | Ksh 818,102 | Ksh 528,217 |
| Year 5 | Ksh 2,000,000 | Ksh 862,356 | 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 5 years would run about Ksh 42,849/month — saving Ksh 291,402 in interest. See the Citibank N.A. Kenya version →