Ksh 5,000,000 loan at Premier Bank Kenya for 2 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 242,718. Total cost: Ksh 5,825,242 (Ksh 825,242 interest).
Monthly repayment
Ksh 242,718
At 15.12% · 24 payments
Total repayment
Ksh 5,825,242
1.17× the borrowed amount
Total interest
Ksh 825,242
Ksh 18,273 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 2,312,533 | Ksh 600,088 | Ksh 2,687,467 |
| Year 2 | Ksh 5,000,000 | Ksh 825,242 | 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 2 years would run about Ksh 231,556/month — saving Ksh 267,890 in interest. See the Citibank N.A. Kenya version →