Ksh 10,000,000 loan at ABSA Bank Kenya for 20 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 10,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 135,239. Total cost: Ksh 32,457,396 (Ksh 22,457,396 interest).
Monthly repayment
Ksh 135,239
At 15.48% · 240 payments
Total repayment
Ksh 32,457,396
3.25× the borrowed amount
Total interest
Ksh 22,457,396
Ksh 71,449 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 80,417 | Ksh 1,542,453 | Ksh 9,919,583 |
| Year 2 | Ksh 174,205 | Ksh 3,071,535 | Ksh 9,825,795 |
| Year 3 | Ksh 283,587 | Ksh 4,585,023 | Ksh 9,716,413 |
| Year 4 | Ksh 411,156 | Ksh 6,080,324 | Ksh 9,588,844 |
| Year 5 | Ksh 559,935 | Ksh 7,554,414 | Ksh 9,440,065 |
| Year 6 | Ksh 733,452 | Ksh 9,003,767 | Ksh 9,266,548 |
| Year 7 | Ksh 935,820 | Ksh 10,424,269 | Ksh 9,064,180 |
| Year 8 | Ksh 1,171,835 | Ksh 11,811,124 | Ksh 8,828,165 |
| Year 9 | Ksh 1,447,092 | Ksh 13,158,736 | Ksh 8,552,908 |
| Year 10 | Ksh 1,768,116 | Ksh 14,460,582 | Ksh 8,231,884 |
| Year 11 | Ksh 2,142,516 | Ksh 15,709,051 | Ksh 7,857,484 |
| Year 12 | Ksh 2,579,168 | Ksh 16,895,269 | Ksh 7,420,832 |
| Year 13 | Ksh 3,088,421 | Ksh 18,008,886 | Ksh 6,911,579 |
| Year 14 | Ksh 3,682,348 | Ksh 19,037,829 | Ksh 6,317,652 |
| Year 15 | Ksh 4,375,027 | Ksh 19,968,020 | Ksh 5,624,973 |
| Year 16 | Ksh 5,182,877 | Ksh 20,783,040 | Ksh 4,817,124 |
| Year 17 | Ksh 6,125,047 | Ksh 21,463,740 | Ksh 3,874,953 |
| Year 18 | Ksh 7,223,871 | Ksh 21,987,785 | Ksh 2,776,129 |
| Year 19 | Ksh 8,505,396 | Ksh 22,329,130 | Ksh 1,494,604 |
| Year 20 | Ksh 10,000,000 | Ksh 22,457,396 | 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 20 years would run about Ksh 98,899/month — saving Ksh 8,721,553 in interest. See the Citibank N.A. Kenya version →