Ksh 500,000 loan at Guaranty Trust Bank for 15 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 7,208. Total cost: Ksh 1,297,440 (Ksh 797,441 interest).
Monthly repayment
Ksh 7,208
At 15.61% · 180 payments
Total repayment
Ksh 1,297,440
2.59× the borrowed amount
Total interest
Ksh 797,441
Ksh 10,580 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 9,077 | Ksh 77,419 | Ksh 490,923 |
| Year 2 | Ksh 19,677 | Ksh 153,315 | Ksh 480,323 |
| Year 3 | Ksh 32,056 | Ksh 227,432 | Ksh 467,944 |
| Year 4 | Ksh 46,511 | Ksh 299,473 | Ksh 453,489 |
| Year 5 | Ksh 63,392 | Ksh 369,089 | Ksh 436,608 |
| Year 6 | Ksh 83,104 | Ksh 435,872 | Ksh 416,896 |
| Year 7 | Ksh 106,123 | Ksh 499,349 | Ksh 393,877 |
| Year 8 | Ksh 133,005 | Ksh 558,964 | Ksh 366,995 |
| Year 9 | Ksh 164,396 | Ksh 614,069 | Ksh 335,604 |
| Year 10 | Ksh 201,053 | Ksh 663,907 | Ksh 298,947 |
| Year 11 | Ksh 243,861 | Ksh 707,596 | Ksh 256,139 |
| Year 12 | Ksh 293,850 | Ksh 744,103 | Ksh 206,150 |
| Year 13 | Ksh 352,225 | Ksh 772,223 | Ksh 147,775 |
| Year 14 | Ksh 420,394 | Ksh 790,550 | Ksh 79,606 |
| Year 15 | Ksh 500,000 | Ksh 797,441 | 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 15 years would run about Ksh 5,484/month — saving Ksh 310,379 in interest. See the Citibank N.A. Kenya version →