Ksh 2,000,000 loan at ABSA Bank Kenya for 5 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 48,085. Total cost: Ksh 2,885,116 (Ksh 885,116 interest).
Monthly repayment
Ksh 48,085
At 15.48% · 60 payments
Total repayment
Ksh 2,885,116
1.44× the borrowed amount
Total interest
Ksh 885,116
Ksh 2,534 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 287,237 | Ksh 289,786 | Ksh 1,712,763 |
| Year 2 | Ksh 622,232 | Ksh 531,814 | Ksh 1,377,768 |
| Year 3 | Ksh 1,012,927 | Ksh 718,142 | Ksh 987,073 |
| Year 4 | Ksh 1,468,583 | Ksh 839,510 | Ksh 531,417 |
| Year 5 | Ksh 2,000,000 | Ksh 885,116 | 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 5 years would run about Ksh 42,849/month — saving Ksh 314,162 in interest. See the Citibank N.A. Kenya version →