Ksh 500,000 loan at Premier Bank Kenya for 20 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 6,628. Total cost: Ksh 1,590,797 (Ksh 1,090,798 interest).
Monthly repayment
Ksh 6,628
At 15.12% · 240 payments
Total repayment
Ksh 1,590,797
3.18× the borrowed amount
Total interest
Ksh 1,090,798
Ksh 28,500 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 4,225 | Ksh 75,315 | Ksh 495,775 |
| Year 2 | Ksh 9,134 | Ksh 149,945 | Ksh 490,866 |
| Year 3 | Ksh 14,840 | Ksh 223,780 | Ksh 485,160 |
| Year 4 | Ksh 21,471 | Ksh 296,689 | Ksh 478,529 |
| Year 5 | Ksh 29,177 | Ksh 368,523 | Ksh 470,823 |
| Year 6 | Ksh 38,132 | Ksh 439,108 | Ksh 461,868 |
| Year 7 | Ksh 48,539 | Ksh 508,240 | Ksh 451,461 |
| Year 8 | Ksh 60,633 | Ksh 575,686 | Ksh 439,367 |
| Year 9 | Ksh 74,688 | Ksh 641,171 | Ksh 425,312 |
| Year 10 | Ksh 91,022 | Ksh 704,376 | Ksh 408,978 |
| Year 11 | Ksh 110,005 | Ksh 764,934 | Ksh 389,995 |
| Year 12 | Ksh 132,065 | Ksh 822,414 | Ksh 367,935 |
| Year 13 | Ksh 157,701 | Ksh 876,317 | Ksh 342,299 |
| Year 14 | Ksh 187,494 | Ksh 926,064 | Ksh 312,506 |
| Year 15 | Ksh 222,117 | Ksh 970,981 | Ksh 277,883 |
| Year 16 | Ksh 262,354 | Ksh 1,010,284 | Ksh 237,646 |
| Year 17 | Ksh 309,115 | Ksh 1,043,063 | Ksh 190,885 |
| Year 18 | Ksh 363,457 | Ksh 1,068,261 | Ksh 136,543 |
| Year 19 | Ksh 426,609 | Ksh 1,084,649 | Ksh 73,391 |
| Year 20 | Ksh 500,000 | Ksh 1,090,798 | 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 20 years would run about Ksh 4,945/month — saving Ksh 404,006 in interest. See the Citibank N.A. Kenya version →