Ksh 1,000,000 loan at Guaranty Trust Bank for 10 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,509. Total cost: Ksh 1,981,090 (Ksh 981,090 interest).
Monthly repayment
Ksh 16,509
At 15.61% · 120 payments
Total repayment
Ksh 1,981,090
1.98× the borrowed amount
Total interest
Ksh 981,090
Ksh 12,609 more 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 45,149 | Ksh 152,960 | Ksh 954,851 |
| Year 2 | Ksh 97,872 | Ksh 298,346 | Ksh 902,128 |
| Year 3 | Ksh 159,440 | Ksh 434,886 | Ksh 840,560 |
| Year 4 | Ksh 231,338 | Ksh 561,098 | Ksh 768,662 |
| Year 5 | Ksh 315,298 | Ksh 675,247 | Ksh 684,702 |
| Year 6 | Ksh 413,343 | Ksh 775,311 | Ksh 586,657 |
| Year 7 | Ksh 527,837 | Ksh 858,926 | Ksh 472,163 |
| Year 8 | Ksh 661,539 | Ksh 923,332 | Ksh 338,461 |
| Year 9 | Ksh 817,673 | Ksh 965,308 | Ksh 182,327 |
| Year 10 | Ksh 1,000,000 | Ksh 981,090 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 371,262 in interest. See the Citibank N.A. Kenya version →