Ksh 500,000 loan at Gulf African Bank for 5 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 11,835. Total cost: Ksh 710,081 (Ksh 210,081 interest).
Monthly repayment
Ksh 11,835
At 14.77% · 60 payments
Total repayment
Ksh 710,081
1.42× the borrowed amount
Total interest
Ksh 210,081
Ksh 10,564 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 72,975 | Ksh 69,041 | Ksh 427,025 |
| Year 2 | Ksh 157,490 | Ksh 126,543 | Ksh 342,510 |
| Year 3 | Ksh 255,368 | Ksh 170,681 | Ksh 244,632 |
| Year 4 | Ksh 368,722 | Ksh 199,343 | Ksh 131,278 |
| Year 5 | Ksh 500,000 | Ksh 210,081 | 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 5 years would run about Ksh 10,712/month — saving Ksh 67,343 in interest. See the Citibank N.A. Kenya version →