Ksh 1,000,000 loan at ABSA Bank Kenya for 10 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,429. Total cost: Ksh 1,971,444 (Ksh 971,444 interest).
Monthly repayment
Ksh 16,429
At 15.48% · 120 payments
Total repayment
Ksh 1,971,444
1.97× the borrowed amount
Total interest
Ksh 971,444
Ksh 2,964 more 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 45,482 | Ksh 151,663 | Ksh 954,518 |
| Year 2 | Ksh 98,526 | Ksh 295,763 | Ksh 901,474 |
| Year 3 | Ksh 160,389 | Ksh 431,044 | Ksh 839,611 |
| Year 4 | Ksh 232,539 | Ksh 556,039 | Ksh 767,461 |
| Year 5 | Ksh 316,685 | Ksh 669,037 | Ksh 683,315 |
| Year 6 | Ksh 414,821 | Ksh 768,045 | Ksh 585,179 |
| Year 7 | Ksh 529,275 | Ksh 850,736 | Ksh 470,725 |
| Year 8 | Ksh 662,759 | Ksh 914,396 | Ksh 337,241 |
| Year 9 | Ksh 818,437 | Ksh 955,862 | Ksh 181,563 |
| Year 10 | Ksh 1,000,000 | Ksh 971,444 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 361,616 in interest. See the Citibank N.A. Kenya version →