Ksh 2,000,000 loan at Gulf African Bank for 3 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 69,106. Total cost: Ksh 2,487,802 (Ksh 487,802 interest).
Monthly repayment
Ksh 69,106
At 14.77% · 36 payments
Total repayment
Ksh 2,487,802
1.24× the borrowed amount
Total interest
Ksh 487,802
Ksh 23,644 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 571,533 | Ksh 257,735 | Ksh 1,428,468 |
| Year 2 | Ksh 1,233,436 | Ksh 425,099 | Ksh 766,564 |
| Year 3 | Ksh 2,000,000 | Ksh 487,802 | 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 2,000,000 loan over 3 years would run about Ksh 64,873/month — saving Ksh 152,376 in interest. See the Citibank N.A. Kenya version →