Ksh 500,000 loan at Gulf African Bank for 15 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 6,919. Total cost: Ksh 1,245,481 (Ksh 745,481 interest).
Monthly repayment
Ksh 6,919
At 14.77% · 180 payments
Total repayment
Ksh 1,245,481
2.49× the borrowed amount
Total interest
Ksh 745,481
Ksh 41,380 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 9,830 | Ksh 73,202 | Ksh 490,170 |
| Year 2 | Ksh 21,214 | Ksh 144,850 | Ksh 478,786 |
| Year 3 | Ksh 34,398 | Ksh 214,698 | Ksh 465,602 |
| Year 4 | Ksh 49,667 | Ksh 282,461 | Ksh 450,333 |
| Year 5 | Ksh 67,350 | Ksh 347,810 | Ksh 432,650 |
| Year 6 | Ksh 87,830 | Ksh 410,363 | Ksh 412,170 |
| Year 7 | Ksh 111,547 | Ksh 469,677 | Ksh 388,453 |
| Year 8 | Ksh 139,015 | Ksh 525,241 | Ksh 360,985 |
| Year 9 | Ksh 170,826 | Ksh 576,462 | Ksh 329,174 |
| Year 10 | Ksh 207,667 | Ksh 622,653 | Ksh 292,333 |
| Year 11 | Ksh 250,333 | Ksh 663,019 | Ksh 249,667 |
| Year 12 | Ksh 299,746 | Ksh 696,639 | Ksh 200,254 |
| Year 13 | Ksh 356,972 | Ksh 722,445 | Ksh 143,028 |
| Year 14 | Ksh 423,246 | Ksh 739,202 | Ksh 76,754 |
| Year 15 | Ksh 500,000 | Ksh 745,481 | 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 500,000 loan over 15 years would run about Ksh 5,484/month — saving Ksh 258,419 in interest. See the Citibank N.A. Kenya version →