Ksh 500,000 loan at ABSA Bank Kenya for 15 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 7,163. Total cost: Ksh 1,289,347 (Ksh 789,347 interest).
Monthly repayment
Ksh 7,163
At 15.48% · 180 payments
Total repayment
Ksh 1,289,347
2.58× the borrowed amount
Total interest
Ksh 789,347
Ksh 2,486 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 9,190 | Ksh 76,766 | Ksh 490,810 |
| Year 2 | Ksh 19,909 | Ksh 152,004 | Ksh 480,091 |
| Year 3 | Ksh 32,410 | Ksh 225,460 | Ksh 467,590 |
| Year 4 | Ksh 46,989 | Ksh 296,837 | Ksh 453,011 |
| Year 5 | Ksh 63,992 | Ksh 365,790 | Ksh 436,008 |
| Year 6 | Ksh 83,823 | Ksh 431,916 | Ksh 416,177 |
| Year 7 | Ksh 106,950 | Ksh 494,745 | Ksh 393,050 |
| Year 8 | Ksh 133,923 | Ksh 553,729 | Ksh 366,077 |
| Year 9 | Ksh 165,381 | Ksh 608,228 | Ksh 334,619 |
| Year 10 | Ksh 202,069 | Ksh 657,496 | Ksh 297,931 |
| Year 11 | Ksh 244,858 | Ksh 700,664 | Ksh 255,143 |
| Year 12 | Ksh 294,760 | Ksh 736,718 | Ksh 205,240 |
| Year 13 | Ksh 352,960 | Ksh 764,474 | Ksh 147,040 |
| Year 14 | Ksh 420,837 | Ksh 782,554 | Ksh 79,163 |
| Year 15 | Ksh 500,000 | Ksh 789,347 | 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 500,000 loan over 15 years would run about Ksh 5,484/month — saving Ksh 302,285 in interest. See the Citibank N.A. Kenya version →