Ksh 500,000 loan at Guaranty Trust Bank for 10 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,255. Total cost: Ksh 990,545 (Ksh 490,545 interest).
Monthly repayment
Ksh 8,255
At 15.61% · 120 payments
Total repayment
Ksh 990,545
1.98× the borrowed amount
Total interest
Ksh 490,545
Ksh 6,305 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 22,574 | Ksh 76,480 | Ksh 477,426 |
| Year 2 | Ksh 48,936 | Ksh 149,173 | Ksh 451,064 |
| Year 3 | Ksh 79,720 | Ksh 217,443 | Ksh 420,280 |
| Year 4 | Ksh 115,669 | Ksh 280,549 | Ksh 384,331 |
| Year 5 | Ksh 157,649 | Ksh 337,624 | Ksh 342,351 |
| Year 6 | Ksh 206,671 | Ksh 387,655 | Ksh 293,329 |
| Year 7 | Ksh 263,919 | Ksh 429,463 | Ksh 236,081 |
| Year 8 | Ksh 330,770 | Ksh 461,666 | Ksh 169,230 |
| Year 9 | Ksh 408,836 | Ksh 482,654 | Ksh 91,164 |
| Year 10 | Ksh 500,000 | Ksh 490,545 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 185,631 in interest. See the Citibank N.A. Kenya version →