Ksh 5,000,000 loan at Gulf African Bank for 5 years.
At Gulf African Bank's current lending rate of 14.77%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 118,347. Total cost: Ksh 7,100,811 (Ksh 2,100,811 interest).
Monthly repayment
Ksh 118,347
At 14.77% · 60 payments
Total repayment
Ksh 7,100,811
1.42× the borrowed amount
Total interest
Ksh 2,100,811
Ksh 105,643 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 729,755 | Ksh 690,408 | Ksh 4,270,245 |
| Year 2 | Ksh 1,574,899 | Ksh 1,265,426 | Ksh 3,425,101 |
| Year 3 | Ksh 2,553,677 | Ksh 1,706,810 | Ksh 2,446,323 |
| Year 4 | Ksh 3,687,220 | Ksh 1,993,429 | Ksh 1,312,780 |
| Year 5 | Ksh 5,000,000 | Ksh 2,100,811 | 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 5 years would run about Ksh 107,123/month — saving Ksh 673,428 in interest. See the Citibank N.A. Kenya version →