Ksh 5,000,000 loan at Premier Bank Kenya for 10 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 81,035. Total cost: Ksh 9,724,237 (Ksh 4,724,237 interest).
Monthly repayment
Ksh 81,035
At 15.12% · 120 payments
Total repayment
Ksh 9,724,237
1.94× the borrowed amount
Total interest
Ksh 4,724,237
Ksh 118,165 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 232,070 | Ksh 740,354 | Ksh 4,767,930 |
| Year 2 | Ksh 501,766 | Ksh 1,443,082 | Ksh 4,498,234 |
| Year 3 | Ksh 815,187 | Ksh 2,102,084 | Ksh 4,184,813 |
| Year 4 | Ksh 1,179,425 | Ksh 2,710,270 | Ksh 3,820,575 |
| Year 5 | Ksh 1,602,716 | Ksh 3,259,403 | Ksh 3,397,284 |
| Year 6 | Ksh 2,094,636 | Ksh 3,739,906 | Ksh 2,905,364 |
| Year 7 | Ksh 2,666,311 | Ksh 4,140,655 | Ksh 2,333,689 |
| Year 8 | Ksh 3,330,672 | Ksh 4,448,717 | Ksh 1,669,328 |
| Year 9 | Ksh 4,102,748 | Ksh 4,649,065 | Ksh 897,252 |
| Year 10 | Ksh 5,000,000 | Ksh 4,724,237 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 1,675,099 in interest. See the Citibank N.A. Kenya version →