Ksh 2,000,000 loan at ABSA Bank Kenya for 2 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 97,430. Total cost: Ksh 2,338,321 (Ksh 338,321 interest).
Monthly repayment
Ksh 97,430
At 15.48% · 24 payments
Total repayment
Ksh 2,338,321
1.17× the borrowed amount
Total interest
Ksh 338,321
Ksh 915 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 923,246 | Ksh 245,914 | Ksh 1,076,754 |
| Year 2 | Ksh 2,000,000 | Ksh 338,321 | 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 2 years would run about Ksh 92,623/month — saving Ksh 115,380 in interest. See the Citibank N.A. Kenya version →