Ksh 1,000,000 loan at Guaranty Trust Bank for 20 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 13,621. Total cost: Ksh 3,268,990 (Ksh 2,268,991 interest).
Monthly repayment
Ksh 13,621
At 15.61% · 240 payments
Total repayment
Ksh 3,268,990
3.27× the borrowed amount
Total interest
Ksh 2,268,991
Ksh 30,396 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 7,899 | Ksh 155,551 | Ksh 992,101 |
| Year 2 | Ksh 17,123 | Ksh 309,776 | Ksh 982,877 |
| Year 3 | Ksh 27,894 | Ksh 462,454 | Ksh 972,106 |
| Year 4 | Ksh 40,473 | Ksh 613,325 | Ksh 959,527 |
| Year 5 | Ksh 55,162 | Ksh 762,086 | Ksh 944,838 |
| Year 6 | Ksh 72,315 | Ksh 908,382 | Ksh 927,685 |
| Year 7 | Ksh 92,346 | Ksh 1,051,801 | Ksh 907,654 |
| Year 8 | Ksh 115,737 | Ksh 1,191,859 | Ksh 884,263 |
| Year 9 | Ksh 143,053 | Ksh 1,327,993 | Ksh 856,947 |
| Year 10 | Ksh 174,951 | Ksh 1,459,544 | Ksh 825,049 |
| Year 11 | Ksh 212,201 | Ksh 1,585,743 | Ksh 787,799 |
| Year 12 | Ksh 255,701 | Ksh 1,705,694 | Ksh 744,299 |
| Year 13 | Ksh 306,497 | Ksh 1,818,346 | Ksh 693,503 |
| Year 14 | Ksh 365,816 | Ksh 1,922,477 | Ksh 634,184 |
| Year 15 | Ksh 435,087 | Ksh 2,016,656 | Ksh 564,913 |
| Year 16 | Ksh 515,979 | Ksh 2,099,213 | Ksh 484,021 |
| Year 17 | Ksh 610,443 | Ksh 2,168,199 | Ksh 389,557 |
| Year 18 | Ksh 720,754 | Ksh 2,221,338 | Ksh 279,246 |
| Year 19 | Ksh 849,571 | Ksh 2,255,970 | Ksh 150,429 |
| Year 20 | Ksh 1,000,000 | Ksh 2,268,991 | 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 20 years would run about Ksh 9,890/month — saving Ksh 895,406 in interest. See the Citibank N.A. Kenya version →