Ksh 2,000,000 loan at Guaranty Trust Bank for 15 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 28,832. Total cost: Ksh 5,189,762 (Ksh 3,189,762 interest).
Monthly repayment
Ksh 28,832
At 15.61% · 180 payments
Total repayment
Ksh 5,189,762
2.59× the borrowed amount
Total interest
Ksh 3,189,762
Ksh 42,318 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 36,309 | Ksh 309,675 | Ksh 1,963,691 |
| Year 2 | Ksh 78,710 | Ksh 613,258 | Ksh 1,921,290 |
| Year 3 | Ksh 128,224 | Ksh 909,728 | Ksh 1,871,776 |
| Year 4 | Ksh 186,045 | Ksh 1,197,892 | Ksh 1,813,955 |
| Year 5 | Ksh 253,566 | Ksh 1,476,354 | Ksh 1,746,434 |
| Year 6 | Ksh 332,416 | Ksh 1,743,489 | Ksh 1,667,584 |
| Year 7 | Ksh 424,493 | Ksh 1,997,396 | Ksh 1,575,507 |
| Year 8 | Ksh 532,019 | Ksh 2,235,855 | Ksh 1,467,982 |
| Year 9 | Ksh 657,583 | Ksh 2,456,274 | Ksh 1,342,417 |
| Year 10 | Ksh 804,213 | Ksh 2,655,629 | Ksh 1,195,787 |
| Year 11 | Ksh 975,442 | Ksh 2,830,383 | Ksh 1,024,558 |
| Year 12 | Ksh 1,175,399 | Ksh 2,976,411 | Ksh 824,601 |
| Year 13 | Ksh 1,408,901 | Ksh 3,088,893 | Ksh 591,099 |
| Year 14 | Ksh 1,681,578 | Ksh 3,162,201 | Ksh 318,423 |
| Year 15 | Ksh 2,000,000 | Ksh 3,189,762 | 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 15 years would run about Ksh 21,935/month — saving Ksh 1,241,514 in interest. See the Citibank N.A. Kenya version →