Ksh 1,000,000 loan at Gulf African Bank for 25 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 12,630. Total cost: Ksh 3,789,036 (Ksh 2,789,035 interest).
Monthly repayment
Ksh 12,630
At 14.77% · 300 payments
Total repayment
Ksh 3,789,036
3.79× the borrowed amount
Total interest
Ksh 2,789,035
Ksh 156,154 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 4,134 | Ksh 147,428 | Ksh 995,866 |
| Year 2 | Ksh 8,921 | Ksh 294,202 | Ksh 991,079 |
| Year 3 | Ksh 14,466 | Ksh 440,218 | Ksh 985,534 |
| Year 4 | Ksh 20,887 | Ksh 585,359 | Ksh 979,113 |
| Year 5 | Ksh 28,323 | Ksh 729,484 | Ksh 971,677 |
| Year 6 | Ksh 36,936 | Ksh 872,433 | Ksh 963,064 |
| Year 7 | Ksh 46,910 | Ksh 1,014,020 | Ksh 953,090 |
| Year 8 | Ksh 58,461 | Ksh 1,154,030 | Ksh 941,539 |
| Year 9 | Ksh 71,839 | Ksh 1,292,214 | Ksh 928,161 |
| Year 10 | Ksh 87,332 | Ksh 1,428,282 | Ksh 912,668 |
| Year 11 | Ksh 105,275 | Ksh 1,561,901 | Ksh 894,725 |
| Year 12 | Ksh 126,055 | Ksh 1,692,682 | Ksh 873,945 |
| Year 13 | Ksh 150,120 | Ksh 1,820,178 | Ksh 849,880 |
| Year 14 | Ksh 177,991 | Ksh 1,943,868 | Ksh 822,009 |
| Year 15 | Ksh 210,269 | Ksh 2,063,152 | Ksh 789,731 |
| Year 16 | Ksh 247,651 | Ksh 2,177,332 | Ksh 752,349 |
| Year 17 | Ksh 290,943 | Ksh 2,285,601 | Ksh 709,057 |
| Year 18 | Ksh 341,081 | Ksh 2,387,024 | Ksh 658,919 |
| Year 19 | Ksh 399,147 | Ksh 2,480,520 | Ksh 600,853 |
| Year 20 | Ksh 466,394 | Ksh 2,564,834 | Ksh 533,606 |
| Year 21 | Ksh 544,274 | Ksh 2,638,515 | Ksh 455,726 |
| Year 22 | Ksh 634,469 | Ksh 2,699,882 | Ksh 365,531 |
| Year 23 | Ksh 738,926 | Ksh 2,746,987 | Ksh 261,075 |
| Year 24 | Ksh 859,899 | Ksh 2,777,575 | Ksh 140,101 |
| Year 25 | Ksh 1,000,000 | Ksh 2,789,035 | 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 25 years would run about Ksh 9,342/month — saving Ksh 986,434 in interest. See the Citibank N.A. Kenya version →