Ksh 2,000,000 loan at Guaranty Trust Bank for 10 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 33,018. Total cost: Ksh 3,962,179 (Ksh 1,962,179 interest).
Monthly repayment
Ksh 33,018
At 15.61% · 120 payments
Total repayment
Ksh 3,962,179
1.98× the borrowed amount
Total interest
Ksh 1,962,179
Ksh 25,218 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 90,298 | Ksh 305,920 | Ksh 1,909,703 |
| Year 2 | Ksh 195,744 | Ksh 596,692 | Ksh 1,804,256 |
| Year 3 | Ksh 318,881 | Ksh 869,773 | Ksh 1,681,119 |
| Year 4 | Ksh 462,676 | Ksh 1,122,196 | Ksh 1,537,324 |
| Year 5 | Ksh 630,595 | Ksh 1,350,494 | Ksh 1,369,405 |
| Year 6 | Ksh 826,686 | Ksh 1,550,622 | Ksh 1,173,314 |
| Year 7 | Ksh 1,055,674 | Ksh 1,717,851 | Ksh 944,326 |
| Year 8 | Ksh 1,323,079 | Ksh 1,846,665 | Ksh 676,921 |
| Year 9 | Ksh 1,635,345 | Ksh 1,930,616 | Ksh 364,655 |
| Year 10 | Ksh 2,000,000 | Ksh 1,962,179 | 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 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 742,524 in interest. See the Citibank N.A. Kenya version →