Ksh 2,000,000 loan at Gulf African Bank for 5 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 47,339. Total cost: Ksh 2,840,324 (Ksh 840,325 interest).
Monthly repayment
Ksh 47,339
At 14.77% · 60 payments
Total repayment
Ksh 2,840,324
1.42× the borrowed amount
Total interest
Ksh 840,325
Ksh 42,257 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 291,902 | Ksh 276,163 | Ksh 1,708,098 |
| Year 2 | Ksh 629,959 | Ksh 506,170 | Ksh 1,370,041 |
| Year 3 | Ksh 1,021,471 | Ksh 682,724 | Ksh 978,529 |
| Year 4 | Ksh 1,474,888 | Ksh 797,372 | Ksh 525,112 |
| Year 5 | Ksh 2,000,000 | Ksh 840,325 | 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 5 years would run about Ksh 42,849/month — saving Ksh 269,371 in interest. See the Citibank N.A. Kenya version →