Ksh 1,000,000 loan at ABSA Bank Kenya for 3 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,901. Total cost: Ksh 1,256,431 (Ksh 256,431 interest).
Monthly repayment
Ksh 34,901
At 15.48% · 36 payments
Total repayment
Ksh 1,256,431
1.26× the borrowed amount
Total interest
Ksh 256,431
Ksh 708 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 283,571 | Ksh 135,239 | Ksh 716,429 |
| Year 2 | Ksh 614,291 | Ksh 223,329 | Ksh 385,709 |
| Year 3 | Ksh 1,000,000 | Ksh 256,431 | 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 3 years would run about Ksh 32,436/month — saving Ksh 88,718 in interest. See the Citibank N.A. Kenya version →