Ksh 500,000 loan at Premier Bank Kenya for 3 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,362. Total cost: Ksh 625,034 (Ksh 125,034 interest).
Monthly repayment
Ksh 17,362
At 15.12% · 36 payments
Total repayment
Ksh 625,034
1.25× the borrowed amount
Total interest
Ksh 125,034
Ksh 2,827 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 142,341 | Ksh 66,003 | Ksh 357,659 |
| Year 2 | Ksh 307,761 | Ksh 108,929 | Ksh 192,239 |
| Year 3 | Ksh 500,000 | Ksh 125,034 | 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 3 years would run about Ksh 16,218/month — saving Ksh 41,178 in interest. See the Citibank N.A. Kenya version →