Ksh 1,000,000 loan at Guaranty Trust Bank for 3 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,965. Total cost: Ksh 1,258,732 (Ksh 258,733 interest).
Monthly repayment
Ksh 34,965
At 15.61% · 36 payments
Total repayment
Ksh 1,258,732
1.26× the borrowed amount
Total interest
Ksh 258,733
Ksh 3,010 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 283,170 | Ksh 136,407 | Ksh 716,830 |
| Year 2 | Ksh 613,847 | Ksh 225,308 | Ksh 386,153 |
| Year 3 | Ksh 1,000,000 | Ksh 258,733 | 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 3 years would run about Ksh 32,436/month — saving Ksh 91,020 in interest. See the Citibank N.A. Kenya version →