Ksh 500,000 loan at Premier Bank Kenya for 5 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 11,926. Total cost: Ksh 715,589 (Ksh 215,589 interest).
Monthly repayment
Ksh 11,926
At 15.12% · 60 payments
Total repayment
Ksh 715,589
1.43× the borrowed amount
Total interest
Ksh 215,589
Ksh 5,056 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 72,399 | Ksh 70,719 | Ksh 427,601 |
| Year 2 | Ksh 156,536 | Ksh 129,700 | Ksh 343,464 |
| Year 3 | Ksh 254,314 | Ksh 175,039 | Ksh 245,686 |
| Year 4 | Ksh 367,946 | Ksh 204,526 | Ksh 132,054 |
| Year 5 | Ksh 500,000 | Ksh 215,589 | 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 5 years would run about Ksh 10,712/month — saving Ksh 72,851 in interest. See the Citibank N.A. Kenya version →