Interest rate spread in Kenya
Kenya: Interest rate spread was 4.6% in 2024. ◆ Volatile
Interest rate spread in Kenya, 1971–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
In 2024, interest rate spread in Kenya stood at 4.6%.
Compared with earlier readings it is up 4.3% on the previous year and down 43.4% over ten years.
Over the whole period, interest rate spread in Kenya peaked at 20.5% in 1994 and was at its lowest, 2.3%, in 1982.
Kenya ranks 79th of 140 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Interest rate spread in Kenya, year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 1971 | 5.5% | — |
| 1972 | 5.5% | +0.0% |
| 1973 | 5.5% | +0.0% |
| 1974 | 5.2% | -5.7% |
| 1975 | 4.9% | -6.1% |
| 1976 | 4.9% | +0.0% |
| 1977 | 4.9% | +0.0% |
| 1978 | 4.9% | +0.0% |
| 1979 | 4.9% | +0.0% |
| 1980 | 4.8% | -0.8% |
| 1981 | 3.6% | -26.1% |
| 1982 | 2.3% | -35.5% |
| 1983 | 2.6% | +11.3% |
| 1984 | 2.6% | +3.2% |
| 1985 | 2.8% | +3.9% |
| 1986 | 2.8% | +0.0% |
| 1987 | 3.7% | +34.1% |
| 1988 | 4.7% | +26.6% |
| 1989 | 5.2% | +12.5% |
| 1990 | 5.1% | -3.2% |
| 1991 | 4.5% | -11.5% |
| 1994 | 20.5% | +356.3% |
| 1995 | 15.2% | -25.9% |
| 1996 | 16.2% | +6.6% |
| 1997 | 13.5% | -16.5% |
| 1998 | 11.1% | -18.0% |
| 1999 | 12.8% | +15.7% |
| 2000 | 14.2% | +11.0% |
| 2001 | 13.0% | -8.5% |
| 2002 | 13.0% | -0.5% |
| 2003 | 12.4% | -4.1% |
| 2004 | 10.1% | -18.8% |
| 2005 | 7.8% | -22.8% |
| 2006 | 8.5% | +8.9% |
| 2007 | 8.2% | -3.8% |
| 2008 | 8.7% | +6.6% |
| 2009 | 8.8% | +1.4% |
| 2010 | 9.8% | +11.1% |
| 2011 | 9.4% | -4.0% |
| 2012 | 8.2% | -13.5% |
| 2013 | 8.7% | +6.4% |
| 2014 | 8.1% | -6.1% |
| 2015 | 6.9% | -15.3% |
| 2016 | 7.9% | +14.1% |
| 2017 | 6.0% | -23.9% |
| 2018 | 4.8% | -20.4% |
| 2019 | 4.9% | +3.5% |
| 2020 | 5.0% | +1.9% |
| 2021 | 5.4% | +7.3% |
| 2022 | 5.2% | -3.8% |
| 2023 | 4.4% | -14.8% |
| 2024 | 4.6% | +4.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.1% | 4.9% | 5.5% | 9 |
| 1980s | 3.5% | 2.3% | 5.2% | 10 |
| 1990s | 12.4% | 4.5% | 20.5% | 8 |
| 2000s | 10.5% | 7.8% | 14.2% | 10 |
| 2010s | 7.5% | 4.8% | 9.8% | 10 |
| 2020s | 4.9% | 4.4% | 5.4% | 5 |
Countries ranked near Kenya
More financial sector data for Kenya
- Total reserves in months of imports, annual growth rate 28.36 % change on previous year (2024)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2024)
- Total reserves in months of imports, per capita 0 units per person (2024)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 20.02 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0657 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 155.28 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 17.24 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 157.28 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 17.25 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 157.31 SDR per person (2025)
Frequently asked questions
- What is interest rate spread in Kenya?
- Interest rate spread in Kenya was 4.6% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in Kenya?
- The highest recorded value was 20.5% in 1994.
- What is the lowest interest rate spread recorded in Kenya?
- The lowest recorded value was 2.3% in 1982.
- How does Kenya rank for interest rate spread?
- Kenya ranks 79th out of 140 countries with data for 2024.
- Is interest rate spread rising or falling in Kenya?
- Over the last ten years it is down 43.4%. The long-run trend across the full record is volatile.
- Where does this Kenya data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Interest rate spread (lending rate minus deposit rate, %). Statizoid updates them automatically from the source API.
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About this data
Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest 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.