Ksh 500,000 loan at ABSA Bank Kenya for 20 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 6,762. Total cost: Ksh 1,622,870 (Ksh 1,122,870 interest).
Monthly repayment
Ksh 6,762
At 15.48% · 240 payments
Total repayment
Ksh 1,622,870
3.25× the borrowed amount
Total interest
Ksh 1,122,870
Ksh 3,572 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 4,021 | Ksh 77,123 | Ksh 495,979 |
| Year 2 | Ksh 8,710 | Ksh 153,577 | Ksh 491,290 |
| Year 3 | Ksh 14,179 | Ksh 229,251 | Ksh 485,821 |
| Year 4 | Ksh 20,558 | Ksh 304,016 | Ksh 479,442 |
| Year 5 | Ksh 27,997 | Ksh 377,721 | Ksh 472,003 |
| Year 6 | Ksh 36,673 | Ksh 450,188 | Ksh 463,327 |
| Year 7 | Ksh 46,791 | Ksh 521,213 | Ksh 453,209 |
| Year 8 | Ksh 58,592 | Ksh 590,556 | Ksh 441,408 |
| Year 9 | Ksh 72,355 | Ksh 657,937 | Ksh 427,645 |
| Year 10 | Ksh 88,406 | Ksh 723,029 | Ksh 411,594 |
| Year 11 | Ksh 107,126 | Ksh 785,453 | Ksh 392,874 |
| Year 12 | Ksh 128,958 | Ksh 844,763 | Ksh 371,042 |
| Year 13 | Ksh 154,421 | Ksh 900,444 | Ksh 345,579 |
| Year 14 | Ksh 184,117 | Ksh 951,891 | Ksh 315,883 |
| Year 15 | Ksh 218,751 | Ksh 998,401 | Ksh 281,249 |
| Year 16 | Ksh 259,144 | Ksh 1,039,152 | Ksh 240,856 |
| Year 17 | Ksh 306,252 | Ksh 1,073,187 | Ksh 193,748 |
| Year 18 | Ksh 361,194 | Ksh 1,099,389 | Ksh 138,806 |
| Year 19 | Ksh 425,270 | Ksh 1,116,456 | Ksh 74,730 |
| Year 20 | Ksh 500,000 | Ksh 1,122,870 | 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 20 years would run about Ksh 4,945/month — saving Ksh 436,078 in interest. See the Citibank N.A. Kenya version →