Ksh 1,000,000 loan at ABSA Bank Kenya for 5 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 24,043. Total cost: Ksh 1,442,558 (Ksh 442,558 interest).
Monthly repayment
Ksh 24,043
At 15.48% · 60 payments
Total repayment
Ksh 1,442,558
1.44× the borrowed amount
Total interest
Ksh 442,558
Ksh 1,267 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 143,618 | Ksh 144,893 | Ksh 856,382 |
| Year 2 | Ksh 311,116 | Ksh 265,907 | Ksh 688,884 |
| Year 3 | Ksh 506,464 | Ksh 359,071 | Ksh 493,536 |
| Year 4 | Ksh 734,291 | Ksh 419,755 | Ksh 265,709 |
| Year 5 | Ksh 1,000,000 | Ksh 442,558 | 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 5 years would run about Ksh 21,425/month — saving Ksh 157,081 in interest. See the Citibank N.A. Kenya version →