Ksh 1,000,000 loan at Guaranty Trust Bank for 15 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,416. Total cost: Ksh 2,594,882 (Ksh 1,594,881 interest).
Monthly repayment
Ksh 14,416
At 15.61% · 180 payments
Total repayment
Ksh 2,594,882
2.59× the borrowed amount
Total interest
Ksh 1,594,881
Ksh 21,159 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 18,155 | Ksh 154,837 | Ksh 981,845 |
| Year 2 | Ksh 39,355 | Ksh 306,629 | Ksh 960,645 |
| Year 3 | Ksh 64,112 | Ksh 454,864 | Ksh 935,888 |
| Year 4 | Ksh 93,023 | Ksh 598,946 | Ksh 906,978 |
| Year 5 | Ksh 126,783 | Ksh 738,177 | Ksh 873,217 |
| Year 6 | Ksh 166,208 | Ksh 871,745 | Ksh 833,792 |
| Year 7 | Ksh 212,247 | Ksh 998,698 | Ksh 787,753 |
| Year 8 | Ksh 266,009 | Ksh 1,117,927 | Ksh 733,991 |
| Year 9 | Ksh 328,791 | Ksh 1,228,137 | Ksh 671,209 |
| Year 10 | Ksh 402,106 | Ksh 1,327,814 | Ksh 597,894 |
| Year 11 | Ksh 487,721 | Ksh 1,415,192 | Ksh 512,279 |
| Year 12 | Ksh 587,699 | Ksh 1,488,206 | Ksh 412,301 |
| Year 13 | Ksh 704,451 | Ksh 1,544,446 | Ksh 295,549 |
| Year 14 | Ksh 840,789 | Ksh 1,581,100 | Ksh 159,211 |
| Year 15 | Ksh 1,000,000 | Ksh 1,594,881 | 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 15 years would run about Ksh 10,967/month — saving Ksh 620,757 in interest. See the Citibank N.A. Kenya version →