Ksh 1,000,000 loan at ABSA Bank Kenya for 20 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 13,524. Total cost: Ksh 3,245,738 (Ksh 2,245,740 interest).
Monthly repayment
Ksh 13,524
At 15.48% · 240 payments
Total repayment
Ksh 3,245,738
3.25× the borrowed amount
Total interest
Ksh 2,245,740
Ksh 7,145 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 8,042 | Ksh 154,245 | Ksh 991,958 |
| Year 2 | Ksh 17,420 | Ksh 307,153 | Ksh 982,580 |
| Year 3 | Ksh 28,359 | Ksh 458,502 | Ksh 971,641 |
| Year 4 | Ksh 41,116 | Ksh 608,032 | Ksh 958,884 |
| Year 5 | Ksh 55,994 | Ksh 755,441 | Ksh 944,006 |
| Year 6 | Ksh 73,345 | Ksh 900,377 | Ksh 926,655 |
| Year 7 | Ksh 93,582 | Ksh 1,042,427 | Ksh 906,418 |
| Year 8 | Ksh 117,183 | Ksh 1,181,112 | Ksh 882,817 |
| Year 9 | Ksh 144,709 | Ksh 1,315,874 | Ksh 855,291 |
| Year 10 | Ksh 176,812 | Ksh 1,446,058 | Ksh 823,188 |
| Year 11 | Ksh 214,252 | Ksh 1,570,905 | Ksh 785,748 |
| Year 12 | Ksh 257,917 | Ksh 1,689,527 | Ksh 742,083 |
| Year 13 | Ksh 308,842 | Ksh 1,800,889 | Ksh 691,158 |
| Year 14 | Ksh 368,235 | Ksh 1,903,783 | Ksh 631,765 |
| Year 15 | Ksh 437,503 | Ksh 1,996,802 | Ksh 562,497 |
| Year 16 | Ksh 518,288 | Ksh 2,078,304 | Ksh 481,712 |
| Year 17 | Ksh 612,505 | Ksh 2,146,374 | Ksh 387,495 |
| Year 18 | Ksh 722,387 | Ksh 2,198,778 | Ksh 277,613 |
| Year 19 | Ksh 850,540 | Ksh 2,232,913 | Ksh 149,460 |
| Year 20 | Ksh 1,000,000 | Ksh 2,245,740 | 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 20 years would run about Ksh 9,890/month — saving Ksh 872,155 in interest. See the Citibank N.A. Kenya version →