Ksh 500,000 loan at Gulf African Bank for 3 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,276. Total cost: Ksh 621,950 (Ksh 121,950 interest).
Monthly repayment
Ksh 17,276
At 14.77% · 36 payments
Total repayment
Ksh 621,950
1.24× the borrowed amount
Total interest
Ksh 121,950
Ksh 5,911 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 142,883 | Ksh 64,434 | Ksh 357,117 |
| Year 2 | Ksh 308,359 | Ksh 106,275 | Ksh 191,641 |
| Year 3 | Ksh 500,000 | Ksh 121,950 | 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 3 years would run about Ksh 16,218/month — saving Ksh 38,094 in interest. See the Citibank N.A. Kenya version →