Ksh 5,000,000 loan at Gulf African Bank for 10 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 79,965. Total cost: Ksh 9,595,763 (Ksh 4,595,762 interest).
Monthly repayment
Ksh 79,965
At 14.77% · 120 payments
Total repayment
Ksh 9,595,763
1.92× the borrowed amount
Total interest
Ksh 4,595,762
Ksh 246,640 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 236,674 | Ksh 722,903 | Ksh 4,763,326 |
| Year 2 | Ksh 510,770 | Ksh 1,408,382 | Ksh 4,489,230 |
| Year 3 | Ksh 828,207 | Ksh 2,050,522 | Ksh 4,171,793 |
| Year 4 | Ksh 1,195,837 | Ksh 2,642,468 | Ksh 3,804,163 |
| Year 5 | Ksh 1,621,597 | Ksh 3,176,285 | Ksh 3,378,404 |
| Year 6 | Ksh 2,114,678 | Ksh 3,642,780 | Ksh 2,885,322 |
| Year 7 | Ksh 2,685,725 | Ksh 4,031,309 | Ksh 2,314,275 |
| Year 8 | Ksh 3,347,067 | Ksh 4,329,543 | Ksh 1,652,933 |
| Year 9 | Ksh 4,112,980 | Ksh 4,523,206 | Ksh 887,020 |
| Year 10 | Ksh 5,000,000 | Ksh 4,595,762 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 1,546,625 in interest. See the Citibank N.A. Kenya version →