Ksh 10,000,000 loan at ABSA Bank Kenya for 5 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 240,426. Total cost: Ksh 14,425,578 (Ksh 4,425,578 interest).
Monthly repayment
Ksh 240,426
At 15.48% · 60 payments
Total repayment
Ksh 14,425,578
1.44× the borrowed amount
Total interest
Ksh 4,425,578
Ksh 12,669 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 1,436,184 | Ksh 1,448,931 | Ksh 8,563,816 |
| Year 2 | Ksh 3,111,162 | Ksh 2,659,069 | Ksh 6,888,838 |
| Year 3 | Ksh 5,064,637 | Ksh 3,590,710 | Ksh 4,935,363 |
| Year 4 | Ksh 7,342,914 | Ksh 4,197,548 | Ksh 2,657,086 |
| Year 5 | Ksh 10,000,000 | Ksh 4,425,578 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,570,810 in interest. See the Citibank N.A. Kenya version →