Ksh 1,000,000 loan at Guaranty Trust Bank for 5 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 24,111. Total cost: Ksh 1,446,679 (Ksh 446,679 interest).
Monthly repayment
Ksh 24,111
At 15.61% · 60 payments
Total repayment
Ksh 1,446,679
1.45× the borrowed amount
Total interest
Ksh 446,679
Ksh 5,389 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 143,194 | Ksh 146,142 | Ksh 856,806 |
| Year 2 | Ksh 310,411 | Ksh 268,260 | Ksh 689,589 |
| Year 3 | Ksh 505,682 | Ksh 362,325 | Ksh 494,318 |
| Year 4 | Ksh 733,713 | Ksh 423,630 | Ksh 266,287 |
| Year 5 | Ksh 1,000,000 | Ksh 446,679 | 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 5 years would run about Ksh 21,425/month — saving Ksh 161,203 in interest. See the Citibank N.A. Kenya version →