Ksh 1,000,000 loan at Gulf African Bank for 20 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 12,998. Total cost: Ksh 3,119,585 (Ksh 2,119,585 interest).
Monthly repayment
Ksh 12,998
At 14.77% · 240 payments
Total repayment
Ksh 3,119,585
3.12× the borrowed amount
Total interest
Ksh 2,119,585
Ksh 119,009 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 8,863 | Ksh 147,116 | Ksh 991,137 |
| Year 2 | Ksh 19,128 | Ksh 292,830 | Ksh 980,872 |
| Year 3 | Ksh 31,016 | Ksh 436,922 | Ksh 968,984 |
| Year 4 | Ksh 44,784 | Ksh 579,133 | Ksh 955,216 |
| Year 5 | Ksh 60,729 | Ksh 719,168 | Ksh 939,271 |
| Year 6 | Ksh 79,194 | Ksh 856,681 | Ksh 920,806 |
| Year 7 | Ksh 100,580 | Ksh 991,275 | Ksh 899,420 |
| Year 8 | Ksh 125,347 | Ksh 1,122,487 | Ksh 874,653 |
| Year 9 | Ksh 154,030 | Ksh 1,249,783 | Ksh 845,970 |
| Year 10 | Ksh 187,249 | Ksh 1,372,543 | Ksh 812,751 |
| Year 11 | Ksh 225,721 | Ksh 1,490,051 | Ksh 774,279 |
| Year 12 | Ksh 270,275 | Ksh 1,601,476 | Ksh 729,725 |
| Year 13 | Ksh 321,874 | Ksh 1,705,856 | Ksh 678,126 |
| Year 14 | Ksh 381,633 | Ksh 1,802,077 | Ksh 618,367 |
| Year 15 | Ksh 450,840 | Ksh 1,888,849 | Ksh 549,160 |
| Year 16 | Ksh 530,990 | Ksh 1,964,678 | Ksh 469,010 |
| Year 17 | Ksh 623,814 | Ksh 2,027,833 | Ksh 376,186 |
| Year 18 | Ksh 731,315 | Ksh 2,076,311 | Ksh 268,685 |
| Year 19 | Ksh 855,815 | Ksh 2,107,791 | Ksh 144,185 |
| Year 20 | Ksh 1,000,000 | Ksh 2,119,585 | 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 746,001 in interest. See the Citibank N.A. Kenya version →