Deposit interest rate in Kenya
Kenya: Deposit interest rate was 12.0% in 2024. ▲ Rising
Deposit interest rate in Kenya, 1967–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
In 2024, deposit interest rate in Kenya stood at 12.0%.
That represents a change of up 30.7% on the previous year and up 43.1% over ten years.
Over the whole period, deposit interest rate in Kenya peaked at 18.4% in 1998 and was at its lowest, 2.4%, in 2004.
That places Kenya 12th out of 152 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 56 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.5% | 3.5% | 3.5% | 3 |
| 1970s | 4.4% | 3.5% | 5.1% | 10 |
| 1980s | 10.7% | 5.8% | 13.3% | 10 |
| 1990s | 15.0% | 9.6% | 18.4% | 8 |
| 2000s | 5.3% | 2.4% | 8.1% | 10 |
| 2010s | 8.0% | 4.6% | 11.6% | 10 |
| 2020s | 8.4% | 6.7% | 12.0% | 5 |
Countries ranked near Kenya
More financial sector data for Kenya
- Domestic credit to private sector 31.8% (2023)
- Net domestic credit 7.15 trillion current LCU (2023)
- Total reserves in months of imports 4.03 (2024)
- Net foreign assets 796.06 billion current LCU (2023)
- Domestic credit to private sector by banks 29.7% (2024)
- Monetary Sector credit to private sector 31.8% (2023)
- Claims on central government, etc. 22.4% (2023)
- Broad money 37.6% (2024)
- Official exchange rate 129.3 LCU per US$, period average (2025)
- Net migration -27,330 (2025)
Frequently asked questions
- What is deposit interest rate in Kenya?
- Deposit interest rate in Kenya was 12.0% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest deposit interest rate recorded in Kenya?
- The highest recorded value was 18.4% in 1998.
- What is the lowest deposit interest rate recorded in Kenya?
- The lowest recorded value was 2.4% in 2004.
- How does Kenya rank for deposit interest rate?
- Kenya ranks 12th out of 152 countries with data for 2024.
- Is deposit interest rate rising or falling in Kenya?
- Over the last ten years it is up 43.1%. The long-run trend across the full record is rising.
- Where does this Kenya data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Deposit interest rate (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 56 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.