Ksh 5,000,000 loan at Premier Bank Kenya for 3 years.
At Premier Bank Kenya's current lending rate of 15.12%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 173,621. Total cost: Ksh 6,250,342 (Ksh 1,250,342 interest).
Monthly repayment
Ksh 173,621
At 15.12% · 36 payments
Total repayment
Ksh 6,250,342
1.25× the borrowed amount
Total interest
Ksh 1,250,342
Ksh 28,272 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 1,423,415 | Ksh 660,032 | Ksh 3,576,585 |
| Year 2 | Ksh 3,077,609 | Ksh 1,089,285 | Ksh 1,922,391 |
| Year 3 | Ksh 5,000,000 | Ksh 1,250,342 | 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 3 years would run about Ksh 162,182/month — saving Ksh 411,777 in interest. See the Citibank N.A. Kenya version →