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 153 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.
Deposit interest rate (%) in Kenya, year by year
| Year | % | Change |
|---|---|---|
| 1967 | 3.5% | — |
| 1968 | 3.5% | +0.0% |
| 1969 | 3.5% | +0.0% |
| 1970 | 3.5% | +0.0% |
| 1971 | 3.5% | +0.0% |
| 1972 | 3.5% | +0.0% |
| 1973 | 3.5% | +0.0% |
| 1974 | 4.3% | +23.3% |
| 1975 | 5.1% | +18.9% |
| 1976 | 5.1% | +0.0% |
| 1977 | 5.1% | +0.0% |
| 1978 | 5.1% | +0.0% |
| 1979 | 5.1% | +0.0% |
| 1980 | 5.8% | +12.2% |
| 1981 | 8.8% | +53.8% |
| 1982 | 12.2% | +37.9% |
| 1983 | 13.3% | +8.8% |
| 1984 | 11.8% | -11.3% |
| 1985 | 11.2% | -4.4% |
| 1986 | 11.2% | +0.0% |
| 1987 | 10.3% | -8.3% |
| 1988 | 10.3% | +0.2% |
| 1989 | 12.0% | +16.1% |
| 1990 | 13.7% | +13.9% |
| 1991 | 14.5% | +6.1% |
| 1994 | 15.7% | +8.4% |
| 1995 | 13.6% | -13.5% |
| 1996 | 17.6% | +29.4% |
| 1997 | 16.7% | -4.9% |
| 1998 | 18.4% | +10.0% |
| 1999 | 9.6% | -48.1% |
| 2000 | 8.1% | -15.2% |
| 2001 | 6.6% | -18.0% |
| 2002 | 5.5% | -17.4% |
| 2003 | 4.1% | -24.7% |
| 2004 | 2.4% | -41.1% |
| 2005 | 5.1% | +108.9% |
| 2006 | 5.1% | +1.1% |
| 2007 | 5.2% | +0.5% |
| 2008 | 5.3% | +2.7% |
| 2009 | 6.0% | +12.5% |
| 2010 | 4.6% | -23.6% |
| 2011 | 5.6% | +23.5% |
| 2012 | 11.6% | +105.6% |
| 2013 | 8.6% | -25.3% |
| 2014 | 8.4% | -3.1% |
| 2015 | 9.2% | +9.7% |
| 2016 | 8.7% | -5.4% |
| 2017 | 7.7% | -11.7% |
| 2018 | 8.3% | +8.1% |
| 2019 | 7.5% | -9.5% |
| 2020 | 7.0% | -7.2% |
| 2021 | 6.7% | -4.0% |
| 2022 | 7.1% | +6.9% |
| 2023 | 9.2% | +28.3% |
| 2024 | 12.0% | +30.7% |
Kenya compared with similar countries
- Kenya's 12.0% is above the median for lower middle income countries, which is 5.2%, 2.3× the median. (42 countries reporting)
- Kenya's 12.0% is above the median for Sub-Saharan Africa, which is 5.7%, 2.1× the median. (44 countries reporting)
Biggest year-on-year movements
Years where Deposit interest rate (%) in Kenya changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +108.9% | 2.4% | 5.1% |
| 2012 | +105.6% | 5.6% | 11.6% |
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
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0.3189 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.2328 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0.3189 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (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 153 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
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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.