Ksh 10,000,000 loan at ABSA Bank Kenya for 10 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 164,287. Total cost: Ksh 19,714,439 (Ksh 9,714,439 interest).
Monthly repayment
Ksh 164,287
At 15.48% · 120 payments
Total repayment
Ksh 19,714,439
1.97× the borrowed amount
Total interest
Ksh 9,714,439
Ksh 29,635 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 454,817 | Ksh 1,516,627 | Ksh 9,545,183 |
| Year 2 | Ksh 985,257 | Ksh 2,957,631 | Ksh 9,014,743 |
| Year 3 | Ksh 1,603,892 | Ksh 4,310,439 | Ksh 8,396,108 |
| Year 4 | Ksh 2,325,388 | Ksh 5,560,388 | Ksh 7,674,612 |
| Year 5 | Ksh 3,166,846 | Ksh 6,690,374 | Ksh 6,833,154 |
| Year 6 | Ksh 4,148,213 | Ksh 7,680,451 | Ksh 5,851,787 |
| Year 7 | Ksh 5,292,751 | Ksh 8,507,357 | Ksh 4,707,249 |
| Year 8 | Ksh 6,627,590 | Ksh 9,143,961 | Ksh 3,372,410 |
| Year 9 | Ksh 8,184,373 | Ksh 9,558,623 | Ksh 1,815,628 |
| Year 10 | Ksh 10,000,000 | Ksh 9,714,439 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 3,616,164 in interest. See the Citibank N.A. Kenya version →