Ksh 1,000,000 loan at Guardian Bank for 10 years.
At Guardian Bank's current lending rate of 13.57%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 15,269. Total cost: Ksh 1,832,298 (Ksh 832,298 interest).
Monthly repayment
Ksh 15,269
At 13.57% · 120 payments
Total repayment
Ksh 1,832,298
1.83× the borrowed amount
Total interest
Ksh 832,298
Ksh 136,183 less 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 50,600 | Ksh 132,630 | Ksh 949,400 |
| Year 2 | Ksh 108,511 | Ksh 257,949 | Ksh 891,489 |
| Year 3 | Ksh 174,787 | Ksh 374,902 | Ksh 825,213 |
| Year 4 | Ksh 250,638 | Ksh 482,281 | Ksh 749,362 |
| Year 5 | Ksh 337,447 | Ksh 578,702 | Ksh 662,553 |
| Year 6 | Ksh 436,797 | Ksh 662,582 | Ksh 563,203 |
| Year 7 | Ksh 550,500 | Ksh 732,109 | Ksh 449,500 |
| Year 8 | Ksh 680,629 | Ksh 785,210 | Ksh 319,371 |
| Year 9 | Ksh 829,557 | Ksh 819,511 | Ksh 170,443 |
| Year 10 | Ksh 1,000,000 | Ksh 832,298 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 222,470 in interest. See the Citibank N.A. Kenya version →