Ksh 10,000,000 loan at Gulf African Bank for 5 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 236,694. Total cost: Ksh 14,201,623 (Ksh 4,201,623 interest).
Monthly repayment
Ksh 236,694
At 14.77% · 60 payments
Total repayment
Ksh 14,201,623
1.42× the borrowed amount
Total interest
Ksh 4,201,623
Ksh 211,286 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 1,459,509 | Ksh 1,380,815 | Ksh 8,540,491 |
| Year 2 | Ksh 3,149,797 | Ksh 2,530,852 | Ksh 6,850,203 |
| Year 3 | Ksh 5,107,354 | Ksh 3,413,620 | Ksh 4,892,646 |
| Year 4 | Ksh 7,374,441 | Ksh 3,986,858 | Ksh 2,625,559 |
| Year 5 | Ksh 10,000,000 | Ksh 4,201,623 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,346,855 in interest. See the Citibank N.A. Kenya version →