Ksh 2,000,000 loan at ABSA Bank Kenya for 10 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 32,857. Total cost: Ksh 3,942,888 (Ksh 1,942,888 interest).
Monthly repayment
Ksh 32,857
At 15.48% · 120 payments
Total repayment
Ksh 3,942,888
1.97× the borrowed amount
Total interest
Ksh 1,942,888
Ksh 5,927 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 90,963 | Ksh 303,325 | Ksh 1,909,037 |
| Year 2 | Ksh 197,051 | Ksh 591,526 | Ksh 1,802,949 |
| Year 3 | Ksh 320,778 | Ksh 862,088 | Ksh 1,679,222 |
| Year 4 | Ksh 465,078 | Ksh 1,112,078 | Ksh 1,534,922 |
| Year 5 | Ksh 633,369 | Ksh 1,338,075 | Ksh 1,366,631 |
| Year 6 | Ksh 829,643 | Ksh 1,536,090 | Ksh 1,170,357 |
| Year 7 | Ksh 1,058,550 | Ksh 1,701,471 | Ksh 941,450 |
| Year 8 | Ksh 1,325,518 | Ksh 1,828,792 | Ksh 674,482 |
| Year 9 | Ksh 1,636,875 | Ksh 1,911,725 | Ksh 363,126 |
| Year 10 | Ksh 2,000,000 | Ksh 1,942,888 | 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 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 723,233 in interest. See the Citibank N.A. Kenya version →