Ksh 1,000,000 loan at Gulf African Bank for 15 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 13,839. Total cost: Ksh 2,490,961 (Ksh 1,490,961 interest).
Monthly repayment
Ksh 13,839
At 14.77% · 180 payments
Total repayment
Ksh 2,490,961
2.49× the borrowed amount
Total interest
Ksh 1,490,961
Ksh 82,761 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 19,660 | Ksh 146,404 | Ksh 980,340 |
| Year 2 | Ksh 42,428 | Ksh 289,700 | Ksh 957,572 |
| Year 3 | Ksh 68,796 | Ksh 429,396 | Ksh 931,204 |
| Year 4 | Ksh 99,334 | Ksh 564,922 | Ksh 900,666 |
| Year 5 | Ksh 134,701 | Ksh 695,620 | Ksh 865,299 |
| Year 6 | Ksh 175,660 | Ksh 820,725 | Ksh 824,340 |
| Year 7 | Ksh 223,095 | Ksh 939,354 | Ksh 776,905 |
| Year 8 | Ksh 278,030 | Ksh 1,050,483 | Ksh 721,970 |
| Year 9 | Ksh 341,652 | Ksh 1,152,925 | Ksh 658,348 |
| Year 10 | Ksh 415,334 | Ksh 1,245,307 | Ksh 584,666 |
| Year 11 | Ksh 500,667 | Ksh 1,326,038 | Ksh 499,333 |
| Year 12 | Ksh 599,492 | Ksh 1,393,277 | Ksh 400,508 |
| Year 13 | Ksh 713,944 | Ksh 1,444,890 | Ksh 286,056 |
| Year 14 | Ksh 846,492 | Ksh 1,478,405 | Ksh 153,508 |
| Year 15 | Ksh 1,000,000 | Ksh 1,490,961 | 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 15 years would run about Ksh 10,967/month — saving Ksh 516,838 in interest. See the Citibank N.A. Kenya version →