Ksh 1,000,000 loan at Gulf African Bank for 10 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 15,993. Total cost: Ksh 1,919,153 (Ksh 919,152 interest).
Monthly repayment
Ksh 15,993
At 14.77% · 120 payments
Total repayment
Ksh 1,919,153
1.92× the borrowed amount
Total interest
Ksh 919,152
Ksh 49,328 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 47,335 | Ksh 144,581 | Ksh 952,665 |
| Year 2 | Ksh 102,154 | Ksh 281,676 | Ksh 897,846 |
| Year 3 | Ksh 165,641 | Ksh 410,104 | Ksh 834,359 |
| Year 4 | Ksh 239,167 | Ksh 528,494 | Ksh 760,833 |
| Year 5 | Ksh 324,319 | Ksh 635,257 | Ksh 675,681 |
| Year 6 | Ksh 422,936 | Ksh 728,556 | Ksh 577,064 |
| Year 7 | Ksh 537,145 | Ksh 806,262 | Ksh 462,855 |
| Year 8 | Ksh 669,413 | Ksh 865,909 | Ksh 330,587 |
| Year 9 | Ksh 822,596 | Ksh 904,641 | Ksh 177,404 |
| Year 10 | Ksh 1,000,000 | Ksh 919,152 | 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 10 years would run about Ksh 13,415/month — saving Ksh 309,325 in interest. See the Citibank N.A. Kenya version →