Ksh 1,000,000 loan at Gulf African Bank for 5 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 23,669. Total cost: Ksh 1,420,162 (Ksh 420,162 interest).
Monthly repayment
Ksh 23,669
At 14.77% · 60 payments
Total repayment
Ksh 1,420,162
1.42× the borrowed amount
Total interest
Ksh 420,162
Ksh 21,129 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 145,951 | Ksh 138,082 | Ksh 854,049 |
| Year 2 | Ksh 314,980 | Ksh 253,085 | Ksh 685,020 |
| Year 3 | Ksh 510,735 | Ksh 341,362 | Ksh 489,265 |
| Year 4 | Ksh 737,444 | Ksh 398,686 | Ksh 262,556 |
| Year 5 | Ksh 1,000,000 | Ksh 420,162 | 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 5 years would run about Ksh 21,425/month — saving Ksh 134,686 in interest. See the Citibank N.A. Kenya version →