Ksh 2,000,000 loan at ABSA Bank Kenya for 15 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 28,652. Total cost: Ksh 5,157,389 (Ksh 3,157,390 interest).
Monthly repayment
Ksh 28,652
At 15.48% · 180 payments
Total repayment
Ksh 5,157,389
2.58× the borrowed amount
Total interest
Ksh 3,157,390
Ksh 9,946 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 36,762 | Ksh 307,064 | Ksh 1,963,238 |
| Year 2 | Ksh 79,636 | Ksh 608,016 | Ksh 1,920,364 |
| Year 3 | Ksh 129,639 | Ksh 901,839 | Ksh 1,870,361 |
| Year 4 | Ksh 187,956 | Ksh 1,187,348 | Ksh 1,812,044 |
| Year 5 | Ksh 255,969 | Ksh 1,463,161 | Ksh 1,744,031 |
| Year 6 | Ksh 335,290 | Ksh 1,727,666 | Ksh 1,664,710 |
| Year 7 | Ksh 427,801 | Ksh 1,978,981 | Ksh 1,572,199 |
| Year 8 | Ksh 535,693 | Ksh 2,214,915 | Ksh 1,464,307 |
| Year 9 | Ksh 661,524 | Ksh 2,432,910 | Ksh 1,338,476 |
| Year 10 | Ksh 808,277 | Ksh 2,629,983 | Ksh 1,191,723 |
| Year 11 | Ksh 979,430 | Ksh 2,802,656 | Ksh 1,020,570 |
| Year 12 | Ksh 1,179,041 | Ksh 2,946,871 | Ksh 820,959 |
| Year 13 | Ksh 1,411,841 | Ksh 3,057,897 | Ksh 588,159 |
| Year 14 | Ksh 1,683,349 | Ksh 3,130,215 | Ksh 316,651 |
| Year 15 | Ksh 2,000,000 | Ksh 3,157,390 | 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 15 years would run about Ksh 21,935/month — saving Ksh 1,209,142 in interest. See the Citibank N.A. Kenya version →