Ksh 500,000 loan at Guardian Bank for 15 years.
At Guardian Bank's current lending rate of 13.57%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 6,515. Total cost: Ksh 1,172,680 (Ksh 672,679 interest).
Monthly repayment
Ksh 6,515
At 13.57% · 180 payments
Total repayment
Ksh 1,172,680
2.35× the borrowed amount
Total interest
Ksh 672,679
Ksh 114,182 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 10,996 | Ksh 67,183 | Ksh 489,004 |
| Year 2 | Ksh 23,580 | Ksh 132,777 | Ksh 476,420 |
| Year 3 | Ksh 37,983 | Ksh 196,553 | Ksh 462,017 |
| Year 4 | Ksh 54,466 | Ksh 258,249 | Ksh 445,534 |
| Year 5 | Ksh 73,330 | Ksh 317,563 | Ksh 426,670 |
| Year 6 | Ksh 94,920 | Ksh 374,152 | Ksh 405,080 |
| Year 7 | Ksh 119,628 | Ksh 427,622 | Ksh 380,372 |
| Year 8 | Ksh 147,906 | Ksh 477,523 | Ksh 352,094 |
| Year 9 | Ksh 180,270 | Ksh 523,338 | Ksh 319,730 |
| Year 10 | Ksh 217,309 | Ksh 564,478 | Ksh 282,691 |
| Year 11 | Ksh 259,698 | Ksh 600,267 | Ksh 240,302 |
| Year 12 | Ksh 308,212 | Ksh 629,932 | Ksh 191,788 |
| Year 13 | Ksh 363,734 | Ksh 652,588 | Ksh 136,266 |
| Year 14 | Ksh 427,277 | Ksh 667,224 | Ksh 72,723 |
| Year 15 | Ksh 500,000 | Ksh 672,679 | 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 500,000 loan over 15 years would run about Ksh 5,484/month — saving Ksh 185,617 in interest. See the Citibank N.A. Kenya version →