Lending interest rate in Kenya
Kenya: Lending interest rate was 16.6% in 2024. ▲ Rising
Lending interest rate in Kenya, 1971–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
Kenya recorded 16.6% for lending interest rate in 2024.
That represents a change of up 22.1% on the previous year and up 0.5% over ten years.
Over the whole period, lending interest rate in Kenya peaked at 36.2% in 1994 and was at its lowest, 9.0%, in 1971.
That places Kenya 27th out of 149 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 54 years of available data.
Lending interest rate in Kenya, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 9.0% | — |
| 1972 | 9.0% | +0.0% |
| 1973 | 9.0% | +0.0% |
| 1974 | 9.5% | +5.6% |
| 1975 | 10.0% | +5.3% |
| 1976 | 10.0% | +0.0% |
| 1977 | 10.0% | +0.0% |
| 1978 | 10.0% | +0.0% |
| 1979 | 10.0% | +0.0% |
| 1980 | 10.6% | +5.8% |
| 1981 | 12.4% | +17.3% |
| 1982 | 14.5% | +16.8% |
| 1983 | 15.8% | +9.2% |
| 1984 | 14.4% | -8.9% |
| 1985 | 14.0% | -2.9% |
| 1986 | 14.0% | +0.0% |
| 1987 | 14.0% | +0.0% |
| 1988 | 15.0% | +7.1% |
| 1989 | 17.2% | +15.0% |
| 1990 | 18.8% | +8.7% |
| 1991 | 19.0% | +1.3% |
| 1992 | 21.1% | +10.9% |
| 1993 | 30.0% | +42.3% |
| 1994 | 36.2% | +20.8% |
| 1995 | 28.8% | -20.5% |
| 1996 | 33.8% | +17.3% |
| 1997 | 30.2% | -10.5% |
| 1998 | 29.5% | -2.5% |
| 1999 | 22.4% | -24.1% |
| 2000 | 22.3% | -0.2% |
| 2001 | 19.7% | -12.0% |
| 2002 | 18.5% | -6.2% |
| 2003 | 16.6% | -10.2% |
| 2004 | 12.5% | -24.4% |
| 2005 | 12.9% | +2.8% |
| 2006 | 13.6% | +5.8% |
| 2007 | 13.3% | -2.2% |
| 2008 | 14.0% | +5.1% |
| 2009 | 14.8% | +5.6% |
| 2010 | 14.4% | -2.9% |
| 2011 | 15.0% | +4.7% |
| 2012 | 19.7% | +31.1% |
| 2013 | 17.3% | -12.2% |
| 2014 | 16.5% | -4.6% |
| 2015 | 16.1% | -2.6% |
| 2016 | 16.6% | +2.9% |
| 2017 | 13.7% | -17.5% |
| 2018 | 13.1% | -4.4% |
| 2019 | 12.4% | -4.7% |
| 2020 | 12.0% | -3.6% |
| 2021 | 12.1% | +0.7% |
| 2022 | 12.3% | +2.1% |
| 2023 | 13.6% | +10.2% |
| 2024 | 16.6% | +22.1% |
Kenya compared with similar countries
- Kenya's 16.6% is above the median for lower middle income countries, which is 11.1%, 1.5× the median. (38 countries reporting)
- Kenya's 16.6% is above the median for Sub-Saharan Africa, which is 12.4%, 1.3× the median. (39 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 9.6% | 9.0% | 10.0% | 9 |
| 1980s | 14.2% | 10.6% | 17.2% | 10 |
| 1990s | 27.0% | 18.8% | 36.2% | 10 |
| 2000s | 15.8% | 12.5% | 22.3% | 10 |
| 2010s | 15.5% | 12.4% | 19.7% | 10 |
| 2020s | 13.3% | 12.0% | 16.6% | 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 lending interest rate in Kenya?
- Lending interest rate in Kenya was 16.6% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest lending interest rate recorded in Kenya?
- The highest recorded value was 36.2% in 1994.
- What is the lowest lending interest rate recorded in Kenya?
- The lowest recorded value was 9.0% in 1971.
- How does Kenya rank for lending interest rate?
- Kenya ranks 27th out of 149 countries with data for 2024.
- Is lending interest rate rising or falling in Kenya?
- Over the last ten years it is up 0.5%. 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 Lending interest rate (%). Statizoid updates them automatically from the source API.
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About this data
Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.