Ksh 500,000 loan at ABSA Bank Kenya for 3 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,450. Total cost: Ksh 628,215 (Ksh 128,215 interest).
Monthly repayment
Ksh 17,450
At 15.48% · 36 payments
Total repayment
Ksh 628,215
1.26× the borrowed amount
Total interest
Ksh 128,215
Ksh 354 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 141,786 | Ksh 67,620 | Ksh 358,214 |
| Year 2 | Ksh 307,146 | Ksh 111,665 | Ksh 192,854 |
| Year 3 | Ksh 500,000 | Ksh 128,215 | 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 3 years would run about Ksh 16,218/month — saving Ksh 44,359 in interest. See the Citibank N.A. Kenya version →