Deposit Rate, Percent per annum in Kenya
Kenya: Deposit Rate, Percent per annum was 11.98 in 2024. ▲ Rising
Deposit Rate, Percent per annum in Kenya, 1967–2024
Source: International Monetary Fund.
Analysis
Kenya recorded 11.98 for deposit rate, percent per annum in 2024.
Compared with earlier readings it is up 30.7% on the previous year and up 43.1% over ten years.
Over the whole period, deposit rate, percent per annum in Kenya peaked at 18.4 in 1998 and was at its lowest, 2.43, in 2004.
Kenya ranks 9th of 143 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 56 years of available data.
Deposit Rate, Percent per annum in Kenya, year by year
| Year | Value | 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 | 4.32 | +23.3% |
| 1975 | 5.13 | +18.9% |
| 1976 | 5.13 | +0.0% |
| 1977 | 5.13 | +0.0% |
| 1978 | 5.13 | +0.0% |
| 1979 | 5.13 | +0.0% |
| 1980 | 5.75 | +12.2% |
| 1981 | 8.85 | +53.8% |
| 1982 | 12.2 | +37.9% |
| 1983 | 13.27 | +8.8% |
| 1984 | 11.77 | -11.3% |
| 1985 | 11.25 | -4.4% |
| 1986 | 11.25 | +0.0% |
| 1987 | 10.31 | -8.3% |
| 1988 | 10.33 | +0.2% |
| 1989 | 12 | +16.1% |
| 1990 | 13.67 | +13.9% |
| 1991 | 14.5 | +6.1% |
| 1994 | 15.72 | +8.4% |
| 1995 | 13.6 | -13.5% |
| 1996 | 17.59 | +29.4% |
| 1997 | 16.72 | -4.9% |
| 1998 | 18.4 | +10.0% |
| 1999 | 9.55 | -48.1% |
| 2000 | 8.1 | -15.2% |
| 2001 | 6.64 | -18.0% |
| 2002 | 5.49 | -17.4% |
| 2003 | 4.13 | -24.7% |
| 2004 | 2.43 | -41.1% |
| 2005 | 5.08 | +108.9% |
| 2006 | 5.14 | +1.1% |
| 2007 | 5.16 | +0.5% |
| 2008 | 5.3 | +2.7% |
| 2009 | 5.97 | +12.5% |
| 2010 | 4.56 | -23.6% |
| 2011 | 5.63 | +23.5% |
| 2012 | 11.57 | +105.6% |
| 2013 | 8.64 | -25.3% |
| 2014 | 8.37 | -3.1% |
| 2015 | 9.19 | +9.7% |
| 2016 | 8.69 | -5.4% |
| 2017 | 7.67 | -11.7% |
| 2018 | 8.29 | +8.1% |
| 2019 | 7.51 | -9.5% |
| 2020 | 6.97 | -7.2% |
| 2021 | 6.69 | -4.0% |
| 2022 | 7.15 | +6.9% |
| 2023 | 9.17 | +28.3% |
| 2024 | 11.98 | +30.7% |
Kenya compared with similar countries
- Kenya's 11.98 is above the median for lower middle income countries, which is 5.24, 2.3× the median. (40 countries reporting)
- Kenya's 11.98 is above the median for Sub-Saharan Africa, which is 5.67, 2.1× the median. (43 countries reporting)
Biggest year-on-year movements
Years where Deposit Rate, Percent per annum 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% | 2.43 | 5.08 |
| 2012 | +105.6% | 5.63 | 11.57 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.5 | 3.5 | 3.5 | 3 |
| 1970s | 4.4 | 3.5 | 5.13 | 10 |
| 1980s | 10.7 | 5.75 | 13.27 | 10 |
| 1990s | 14.97 | 9.55 | 18.4 | 8 |
| 2000s | 5.34 | 2.43 | 8.1 | 10 |
| 2010s | 8.01 | 4.56 | 11.57 | 10 |
| 2020s | 8.39 | 6.69 | 11.98 | 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 rate, percent per annum in Kenya?
- Deposit rate, percent per annum in Kenya was 11.98 in 2024, according to International Monetary Fund.
- What is the highest deposit rate, percent per annum recorded in Kenya?
- The highest recorded value was 18.4 in 1998.
- What is the lowest deposit rate, percent per annum recorded in Kenya?
- The lowest recorded value was 2.43 in 2004.
- How does Kenya rank for deposit rate, percent per annum?
- Kenya ranks 9th out of 143 countries with data for 2024.
- Is deposit rate, percent per annum 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 Monetary Fund, published as part of Deposit Rate, Percent per annum. Statizoid updates them automatically from the source API.
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About this data
The Monetary and Financial Statistics (MFS), Interest Rates dataset presents country-specific interest rate data across sectors and instruments, based on nationally defined methodologies.