Ksh 1,000,000 loan at Gulf African Bank for 3 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,553. Total cost: Ksh 1,243,901 (Ksh 243,901 interest).
Monthly repayment
Ksh 34,553
At 14.77% · 36 payments
Total repayment
Ksh 1,243,901
1.24× the borrowed amount
Total interest
Ksh 243,901
Ksh 11,822 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 285,766 | Ksh 128,867 | Ksh 714,234 |
| Year 2 | Ksh 616,718 | Ksh 212,549 | Ksh 383,282 |
| Year 3 | Ksh 1,000,000 | Ksh 243,901 | 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 3 years would run about Ksh 32,436/month — saving Ksh 76,188 in interest. See the Citibank N.A. Kenya version →