Ksh 5,000,000 loan at ABSA Bank Kenya for 3 years.
At ABSA Bank Kenya's current lending rate of 15.48%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 174,504. Total cost: Ksh 6,282,153 (Ksh 1,282,153 interest).
Monthly repayment
Ksh 174,504
At 15.48% · 36 payments
Total repayment
Ksh 6,282,153
1.26× the borrowed amount
Total interest
Ksh 1,282,153
Ksh 3,539 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 1,417,855 | Ksh 676,196 | Ksh 3,582,145 |
| Year 2 | Ksh 3,071,456 | Ksh 1,116,646 | Ksh 1,928,544 |
| Year 3 | Ksh 5,000,000 | Ksh 1,282,153 | 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 3 years would run about Ksh 162,182/month — saving Ksh 443,588 in interest. See the Citibank N.A. Kenya version →