Ksh 2,000,000 loan at ABSA Bank Kenya for 20 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 2,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 27,048. Total cost: Ksh 6,491,479 (Ksh 4,491,479 interest).
Monthly repayment
Ksh 27,048
At 15.48% · 240 payments
Total repayment
Ksh 6,491,479
3.25× the borrowed amount
Total interest
Ksh 4,491,479
Ksh 14,290 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 16,083 | Ksh 308,491 | Ksh 1,983,917 |
| Year 2 | Ksh 34,841 | Ksh 614,307 | Ksh 1,965,159 |
| Year 3 | Ksh 56,717 | Ksh 917,005 | Ksh 1,943,283 |
| Year 4 | Ksh 82,231 | Ksh 1,216,065 | Ksh 1,917,769 |
| Year 5 | Ksh 111,987 | Ksh 1,510,883 | Ksh 1,888,013 |
| Year 6 | Ksh 146,690 | Ksh 1,800,753 | Ksh 1,853,310 |
| Year 7 | Ksh 187,164 | Ksh 2,084,854 | Ksh 1,812,836 |
| Year 8 | Ksh 234,367 | Ksh 2,362,225 | Ksh 1,765,633 |
| Year 9 | Ksh 289,418 | Ksh 2,631,747 | Ksh 1,710,582 |
| Year 10 | Ksh 353,623 | Ksh 2,892,116 | Ksh 1,646,377 |
| Year 11 | Ksh 428,503 | Ksh 3,141,810 | Ksh 1,571,497 |
| Year 12 | Ksh 515,834 | Ksh 3,379,054 | Ksh 1,484,166 |
| Year 13 | Ksh 617,684 | Ksh 3,601,777 | Ksh 1,382,316 |
| Year 14 | Ksh 736,470 | Ksh 3,807,566 | Ksh 1,263,530 |
| Year 15 | Ksh 875,005 | Ksh 3,993,604 | Ksh 1,124,995 |
| Year 16 | Ksh 1,036,575 | Ksh 4,156,608 | Ksh 963,425 |
| Year 17 | Ksh 1,225,009 | Ksh 4,292,748 | Ksh 774,991 |
| Year 18 | Ksh 1,444,774 | Ksh 4,397,557 | Ksh 555,226 |
| Year 19 | Ksh 1,701,079 | Ksh 4,465,826 | Ksh 298,921 |
| Year 20 | Ksh 2,000,000 | Ksh 4,491,479 | 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 20 years would run about Ksh 19,780/month — saving Ksh 1,744,311 in interest. See the Citibank N.A. Kenya version →