Ksh 1,000,000 loan at Guardian Bank for 20 years.
At Guardian Bank's current lending rate of 13.57%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 12,124. Total cost: Ksh 2,909,796 (Ksh 1,909,795 interest).
Monthly repayment
Ksh 12,124
At 13.57% · 240 payments
Total repayment
Ksh 2,909,796
2.91× the borrowed amount
Total interest
Ksh 1,909,795
Ksh 328,800 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 10,422 | Ksh 135,068 | Ksh 989,578 |
| Year 2 | Ksh 22,350 | Ksh 268,629 | Ksh 977,650 |
| Year 3 | Ksh 36,001 | Ksh 400,468 | Ksh 963,999 |
| Year 4 | Ksh 51,624 | Ksh 530,335 | Ksh 948,376 |
| Year 5 | Ksh 69,504 | Ksh 657,944 | Ksh 930,496 |
| Year 6 | Ksh 89,968 | Ksh 782,971 | Ksh 910,033 |
| Year 7 | Ksh 113,387 | Ksh 905,041 | Ksh 886,613 |
| Year 8 | Ksh 140,190 | Ksh 1,023,728 | Ksh 859,810 |
| Year 9 | Ksh 170,865 | Ksh 1,138,543 | Ksh 829,135 |
| Year 10 | Ksh 205,971 | Ksh 1,248,927 | Ksh 794,029 |
| Year 11 | Ksh 246,149 | Ksh 1,354,238 | Ksh 753,851 |
| Year 12 | Ksh 292,131 | Ksh 1,453,746 | Ksh 707,869 |
| Year 13 | Ksh 344,757 | Ksh 1,546,610 | Ksh 655,243 |
| Year 14 | Ksh 404,985 | Ksh 1,631,872 | Ksh 595,015 |
| Year 15 | Ksh 473,914 | Ksh 1,708,433 | Ksh 526,086 |
| Year 16 | Ksh 552,800 | Ksh 1,775,036 | Ksh 447,200 |
| Year 17 | Ksh 643,084 | Ksh 1,830,242 | Ksh 356,916 |
| Year 18 | Ksh 746,410 | Ksh 1,872,406 | Ksh 253,590 |
| Year 19 | Ksh 864,663 | Ksh 1,899,642 | Ksh 135,337 |
| Year 20 | Ksh 1,000,000 | Ksh 1,909,795 | 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 20 years would run about Ksh 9,890/month — saving Ksh 536,211 in interest. See the Citibank N.A. Kenya version →