Ksh 1,000,000 loan at Guardian Bank for 15 years.
At Guardian Bank's current lending rate of 13.57%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 13,030. Total cost: Ksh 2,345,359 (Ksh 1,345,359 interest).
Monthly repayment
Ksh 13,030
At 13.57% · 180 payments
Total repayment
Ksh 2,345,359
2.35× the borrowed amount
Total interest
Ksh 1,345,359
Ksh 228,363 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 21,992 | Ksh 134,366 | Ksh 978,008 |
| Year 2 | Ksh 47,161 | Ksh 265,554 | Ksh 952,839 |
| Year 3 | Ksh 75,965 | Ksh 393,106 | Ksh 924,035 |
| Year 4 | Ksh 108,932 | Ksh 516,497 | Ksh 891,068 |
| Year 5 | Ksh 146,660 | Ksh 635,126 | Ksh 853,340 |
| Year 6 | Ksh 189,839 | Ksh 748,304 | Ksh 810,161 |
| Year 7 | Ksh 239,257 | Ksh 855,244 | Ksh 760,743 |
| Year 8 | Ksh 295,813 | Ksh 955,045 | Ksh 704,187 |
| Year 9 | Ksh 360,540 | Ksh 1,046,676 | Ksh 639,460 |
| Year 10 | Ksh 434,617 | Ksh 1,128,955 | Ksh 565,383 |
| Year 11 | Ksh 519,396 | Ksh 1,200,533 | Ksh 480,604 |
| Year 12 | Ksh 616,423 | Ksh 1,259,864 | Ksh 383,577 |
| Year 13 | Ksh 727,468 | Ksh 1,305,177 | Ksh 272,532 |
| Year 14 | Ksh 854,554 | Ksh 1,334,448 | Ksh 145,446 |
| Year 15 | Ksh 1,000,000 | Ksh 1,345,359 | 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 1,000,000 loan over 15 years would run about Ksh 10,967/month — saving Ksh 371,235 in interest. See the Citibank N.A. Kenya version →