Ksh 1,000,000 loan at ABSA Bank Kenya for 15 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,326. Total cost: Ksh 2,578,694 (Ksh 1,578,695 interest).
Monthly repayment
Ksh 14,326
At 15.48% · 180 payments
Total repayment
Ksh 2,578,694
2.58× the borrowed amount
Total interest
Ksh 1,578,695
Ksh 4,973 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 18,381 | Ksh 153,532 | Ksh 981,619 |
| Year 2 | Ksh 39,818 | Ksh 304,008 | Ksh 960,182 |
| Year 3 | Ksh 64,819 | Ksh 450,920 | Ksh 935,181 |
| Year 4 | Ksh 93,978 | Ksh 593,674 | Ksh 906,022 |
| Year 5 | Ksh 127,984 | Ksh 731,581 | Ksh 872,016 |
| Year 6 | Ksh 167,645 | Ksh 863,833 | Ksh 832,355 |
| Year 7 | Ksh 213,900 | Ksh 989,491 | Ksh 786,100 |
| Year 8 | Ksh 267,846 | Ksh 1,107,458 | Ksh 732,154 |
| Year 9 | Ksh 330,762 | Ksh 1,216,455 | Ksh 669,238 |
| Year 10 | Ksh 404,138 | Ksh 1,314,992 | Ksh 595,862 |
| Year 11 | Ksh 489,715 | Ksh 1,401,328 | Ksh 510,285 |
| Year 12 | Ksh 589,521 | Ksh 1,473,435 | Ksh 410,480 |
| Year 13 | Ksh 705,921 | Ksh 1,528,948 | Ksh 294,079 |
| Year 14 | Ksh 841,674 | Ksh 1,565,107 | Ksh 158,326 |
| Year 15 | Ksh 1,000,000 | Ksh 1,578,695 | 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 15 years would run about Ksh 10,967/month — saving Ksh 604,571 in interest. See the Citibank N.A. Kenya version →