Ksh 2,000,000 loan at Guaranty Trust Bank for 5 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 48,223. Total cost: Ksh 2,893,359 (Ksh 893,359 interest).
Monthly repayment
Ksh 48,223
At 15.61% · 60 payments
Total repayment
Ksh 2,893,359
1.45× the borrowed amount
Total interest
Ksh 893,359
Ksh 10,777 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 286,388 | Ksh 292,284 | Ksh 1,713,612 |
| Year 2 | Ksh 620,823 | Ksh 536,521 | Ksh 1,379,177 |
| Year 3 | Ksh 1,011,364 | Ksh 724,651 | Ksh 988,636 |
| Year 4 | Ksh 1,467,426 | Ksh 847,261 | Ksh 532,574 |
| Year 5 | Ksh 2,000,000 | Ksh 893,359 | 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 5 years would run about Ksh 42,849/month — saving Ksh 322,405 in interest. See the Citibank N.A. Kenya version →