Ksh 10,000,000 loan at Gulf African Bank for 2 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 483,774. Total cost: Ksh 11,610,586 (Ksh 1,610,586 interest).
Monthly repayment
Ksh 483,774
At 14.77% · 24 payments
Total repayment
Ksh 11,610,586
1.16× the borrowed amount
Total interest
Ksh 1,610,586
Ksh 76,444 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 4,633,662 | Ksh 1,171,632 | Ksh 5,366,338 |
| Year 2 | Ksh 10,000,000 | Ksh 1,610,586 | 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 2 years would run about Ksh 463,113/month — saving Ksh 495,884 in interest. See the Citibank N.A. Kenya version →