Ksh 500,000 loan at Premier Bank Kenya for 2 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,272. Total cost: Ksh 582,524 (Ksh 82,524 interest).
Monthly repayment
Ksh 24,272
At 15.12% · 24 payments
Total repayment
Ksh 582,524
1.17× the borrowed amount
Total interest
Ksh 82,524
Ksh 1,827 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 231,253 | Ksh 60,009 | Ksh 268,747 |
| Year 2 | Ksh 500,000 | Ksh 82,524 | 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 2 years would run about Ksh 23,156/month — saving Ksh 26,789 in interest. See the Citibank N.A. Kenya version →