Ksh 1,000,000 loan at Guardian Bank for 2 years.
At Guardian Bank's current lending rate of 13.57%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 47,810. Total cost: Ksh 1,147,440 (Ksh 147,440 interest).
Monthly repayment
Ksh 47,810
At 13.57% · 24 payments
Total repayment
Ksh 1,147,440
1.15× the borrowed amount
Total interest
Ksh 147,440
Ksh 21,263 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 466,316 | Ksh 107,403 | Ksh 533,684 |
| Year 2 | Ksh 1,000,000 | Ksh 147,440 | 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 2 years would run about Ksh 46,311/month — saving Ksh 35,970 in interest. See the Citibank N.A. Kenya version →