Ksh 10,000,000 loan at Gulf African Bank for 10 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 159,929. Total cost: Ksh 19,191,524 (Ksh 9,191,525 interest).
Monthly repayment
Ksh 159,929
At 14.77% · 120 payments
Total repayment
Ksh 19,191,524
1.92× the borrowed amount
Total interest
Ksh 9,191,525
Ksh 493,279 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 473,347 | Ksh 1,445,805 | Ksh 9,526,653 |
| Year 2 | Ksh 1,021,540 | Ksh 2,816,765 | Ksh 8,978,460 |
| Year 3 | Ksh 1,656,413 | Ksh 4,101,044 | Ksh 8,343,587 |
| Year 4 | Ksh 2,391,673 | Ksh 5,284,936 | Ksh 7,608,327 |
| Year 5 | Ksh 3,243,193 | Ksh 6,352,569 | Ksh 6,756,807 |
| Year 6 | Ksh 4,229,355 | Ksh 7,285,559 | Ksh 5,770,645 |
| Year 7 | Ksh 5,371,450 | Ksh 8,062,617 | Ksh 4,628,550 |
| Year 8 | Ksh 6,694,133 | Ksh 8,659,086 | Ksh 3,305,867 |
| Year 9 | Ksh 8,225,960 | Ksh 9,046,412 | Ksh 1,774,040 |
| Year 10 | Ksh 10,000,000 | Ksh 9,191,525 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 3,093,250 in interest. See the Citibank N.A. Kenya version →