Ksh 1,000,000 loan at Guardian Bank for 3 years.
At Guardian Bank's current lending rate of 13.57%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 33,969. Total cost: Ksh 1,222,889 (Ksh 222,890 interest).
Monthly repayment
Ksh 33,969
At 13.57% · 36 payments
Total repayment
Ksh 1,222,889
1.22× the borrowed amount
Total interest
Ksh 222,890
Ksh 32,833 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 289,497 | Ksh 118,133 | Ksh 710,503 |
| Year 2 | Ksh 620,816 | Ksh 194,444 | Ksh 379,184 |
| Year 3 | Ksh 1,000,000 | Ksh 222,890 | 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 3 years would run about Ksh 32,436/month — saving Ksh 55,177 in interest. See the Citibank N.A. Kenya version →