Ksh 5,000,000 loan at ABSA Bank Kenya for 20 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 5,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 67,620. Total cost: Ksh 16,228,697 (Ksh 11,228,698 interest).
Monthly repayment
Ksh 67,620
At 15.48% · 240 payments
Total repayment
Ksh 16,228,697
3.25× the borrowed amount
Total interest
Ksh 11,228,698
Ksh 35,724 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 40,208 | Ksh 771,226 | Ksh 4,959,792 |
| Year 2 | Ksh 87,102 | Ksh 1,535,767 | Ksh 4,912,898 |
| Year 3 | Ksh 141,793 | Ksh 2,292,511 | Ksh 4,858,207 |
| Year 4 | Ksh 205,578 | Ksh 3,040,162 | Ksh 4,794,422 |
| Year 5 | Ksh 279,968 | Ksh 3,777,207 | Ksh 4,720,032 |
| Year 6 | Ksh 366,726 | Ksh 4,501,883 | Ksh 4,633,274 |
| Year 7 | Ksh 467,910 | Ksh 5,212,134 | Ksh 4,532,090 |
| Year 8 | Ksh 585,917 | Ksh 5,905,562 | Ksh 4,414,083 |
| Year 9 | Ksh 723,546 | Ksh 6,579,368 | Ksh 4,276,454 |
| Year 10 | Ksh 884,058 | Ksh 7,230,291 | Ksh 4,115,942 |
| Year 11 | Ksh 1,071,258 | Ksh 7,854,526 | Ksh 3,928,742 |
| Year 12 | Ksh 1,289,584 | Ksh 8,447,635 | Ksh 3,710,416 |
| Year 13 | Ksh 1,544,211 | Ksh 9,004,443 | Ksh 3,455,789 |
| Year 14 | Ksh 1,841,174 | Ksh 9,518,914 | Ksh 3,158,826 |
| Year 15 | Ksh 2,187,513 | Ksh 9,984,010 | Ksh 2,812,487 |
| Year 16 | Ksh 2,591,438 | Ksh 10,391,520 | Ksh 2,408,562 |
| Year 17 | Ksh 3,062,523 | Ksh 10,731,870 | Ksh 1,937,477 |
| Year 18 | Ksh 3,611,936 | Ksh 10,993,892 | Ksh 1,388,064 |
| Year 19 | Ksh 4,252,698 | Ksh 11,164,565 | Ksh 747,302 |
| Year 20 | Ksh 5,000,000 | Ksh 11,228,698 | 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 5,000,000 loan over 20 years would run about Ksh 49,450/month — saving Ksh 4,360,777 in interest. See the Citibank N.A. Kenya version →