Ksh 500,000 loan at Premier Bank Kenya for 10 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,104. Total cost: Ksh 972,424 (Ksh 472,424 interest).
Monthly repayment
Ksh 8,104
At 15.12% · 120 payments
Total repayment
Ksh 972,424
1.94× the borrowed amount
Total interest
Ksh 472,424
Ksh 11,817 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 23,207 | Ksh 74,035 | Ksh 476,793 |
| Year 2 | Ksh 50,177 | Ksh 144,308 | Ksh 449,823 |
| Year 3 | Ksh 81,519 | Ksh 210,208 | Ksh 418,481 |
| Year 4 | Ksh 117,942 | Ksh 271,027 | Ksh 382,058 |
| Year 5 | Ksh 160,272 | Ksh 325,940 | Ksh 339,728 |
| Year 6 | Ksh 209,464 | Ksh 373,991 | Ksh 290,536 |
| Year 7 | Ksh 266,631 | Ksh 414,065 | Ksh 233,369 |
| Year 8 | Ksh 333,067 | Ksh 444,872 | Ksh 166,933 |
| Year 9 | Ksh 410,275 | Ksh 464,907 | Ksh 89,725 |
| Year 10 | Ksh 500,000 | Ksh 472,424 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 167,510 in interest. See the Citibank N.A. Kenya version →