Updated The Serrari Kenya KES Fixed Deposit Index, the average of each bank’s best advertised rate, is up to 6.57% across 19 banks, before the 15% withholding tax.
Fixed deposit rates (FDRs) — also called term deposit rates — at 21 Kenyan banks (19 publish a rate; the rest quote on request), compared on the 12-month rate. The highest are Kingdom Bank up to 10.00%, Victoria Commercial Bank 10.00% and Consolidated Bank of Kenya up to 9.50%. Among the large tier-1 banks, 12-month FDRs run from ABSA Kenya (up to 4.00%) to NCBA Bank (8.64%). Interest is taxed at 15% at source, so 10% becomes about 8.5% in hand. For reference, the Central Bank of Kenya reports an average commercial bank deposit rate of 6.93% for July 2026, with the Central Bank Rate at 8.75%. Rates were checked with each bank between 23 March and 15 September 2026; each bank's date is in the table.
Before locking cash away for a fixed term, compare money market funds in Kenya — they pay a variable rate you can withdraw from at any time.
Rates checked 23 Mar 2026 – 15 Sep 2026 · 21 banks tracked
| News | |||
|---|---|---|---|
| Kingdom Bank | up to10.00% | KES 50K | |
| Victoria Commercial Bank | 10.00% | KES 100K | |
| Consolidated Bank of Kenya | up to9.50% | KES 20K | |
| NCBA Bank | 8.64% | KES 100K | |
| SBM Bank Kenya | up to8.50% | KES 50K | |
| Gulf-African | up to7.00% | KES 50K | |
| Sidian Bank | up to6.55% | KES 50K | |
| KCB Bank | 6.50% | KES 50K | |
| Stanbic Bank | 6.00% | KES 20K | |
| Diamond Trust Bank | 5.75% | KES 20K | |
| Prime Bank | 5.75% | KES 100K | |
| I&M Bank | 5.70% | KES 50K | |
| Bank of Africa Kenya | up to5.50% | KES 50K | |
| ABC Bank | 5.50% | KES 100K | |
| Equity Bank | up to5.00% | KES 50K | |
| Co-operative Bank | 5.00% | KES 50K | |
| Standard Chartered | up to5.00% | KES 100K | |
| HF Group | up to5.00% | KES 50K | |
| ABSA Kenya | up to4.00% | KES 100K | |
| Family Bank | On request | KES 30K | |
| UBA Kenya | On request | KES 10K |
Up to marks the top of a tiered, ranged or negotiable rate — usually reserved for larger deposits; hover it for the bank’s own wording. After tax deducts the 15% withholding tax. Last checked is the date Serrari last verified the row with the bank, from its website or by phone. Rates change — confirm with the bank before you deposit.
Benchmark: the Central Bank of Kenya reports an average commercial bank deposit rate of 6.93% for July 2026 and a Central Bank Rate of 8.75% (centralbank.go.ke, checked 15 September 2026). How Serrari collects rates.
| Bank | 12-month rate | KES 100,000 | KES 500,000 | KES 1,000,000 |
|---|---|---|---|---|
| Kingdom Bank | up to10.00% | up toKES 8,500 | up toKES 42,500 | up toKES 85,000 |
| Victoria Commercial Bank | 10.00% | KES 8,500 | KES 42,500 | KES 85,000 |
| Consolidated Bank of Kenya | up to9.50% | up toKES 8,075 | up toKES 40,375 | up toKES 80,750 |
| NCBA Bank | 8.64% | KES 7,344 | KES 36,720 | KES 73,440 |
| SBM Bank Kenya | up to8.50% | up toKES 7,225 | up toKES 36,125 | up toKES 72,250 |
| Gulf-African | up to7.00% | up toKES 5,950 | up toKES 29,750 | up toKES 59,500 |
| Sidian Bank | up to6.55% | up toKES 5,568 | up toKES 27,838 | up toKES 55,675 |
| KCB Bank | 6.50% | KES 5,525 | KES 27,625 | KES 55,250 |
| Stanbic Bank | 6.00% | KES 5,100 | KES 25,500 | KES 51,000 |
| Diamond Trust Bank | 5.75% | KES 4,888 | KES 24,438 | KES 48,875 |
| Prime Bank | 5.75% | KES 4,888 | KES 24,438 | KES 48,875 |
| I&M Bank | 5.70% | KES 4,845 | KES 24,225 | KES 48,450 |
| ABC Bank | 5.50% | KES 4,675 | KES 23,375 | KES 46,750 |
| Bank of Africa Kenya | up to5.50% | up toKES 4,675 | up toKES 23,375 | up toKES 46,750 |
| Co-operative Bank | 5.00% | KES 4,250 | KES 21,250 | KES 42,500 |
| Equity Bank | up to5.00% | up toKES 4,250 | up toKES 21,250 | up toKES 42,500 |
| HF Group | up to5.00% | up toKES 4,250 | up toKES 21,250 | up toKES 42,500 |
| Standard Chartered | up to5.00% | up toKES 4,250 | up toKES 21,250 | up toKES 42,500 |
| ABSA Kenya | up to4.00% | up toKES 3,400 | up toKES 17,000 | up toKES 34,000 |
| Family Bank | Depends on amount you are saving | On request | On request | On request |
| UBA Kenya | Rate not published | On request | On request | On request |
Most published fixed deposit rates in Kenya are lower than the average MMF yield (~9.4%). Only Kingdom Bank (up to 10.00%), Victoria Commercial Bank (10.00%) and Consolidated Bank of Kenya (up to 9.50%) publish a rate above it, some only at the top of a tiered or negotiable range. Banks may offer higher negotiated rates for large deposits (KES 1M+), but most published retail rates still trail MMFs. Fixed deposits make sense if you need a locked commitment to avoid spending, want KDIC insurance, or can negotiate a premium rate.
Should you lock your money in a fixed deposit or put it in an MMF? This chart shows every bank's FD rate alongside the MMF market average (dashed line). Any bank below the line is paying you less than what you'd earn in an MMF — with worse liquidity. The line shows the current MMF average for comparison.
Each bank's best published FD rate ranked against the MMF market average — banks below the dashed line offer less than an MMF with worse liquidity.
Does depositing more money get you a better rate? The top-left is the sweet spot — high yield, low minimum. Bottom-right: large minimum, low yield.
Bank FD rates plotted against their minimum deposit requirements — the top-left is the sweet spot of high yield and low minimum.
Banks are grouped by the early-withdrawal penalty they state. Under a strict penalty you lose all interest earned if you break the deposit early. If you are certain you won't need the money before the term ends, that may not matter. If there's any chance you'll need early access, an MMF is safer.
Forfeit all accrued interest on early withdrawal
Same amount, same period — which earns more?
Using Kingdom Bank’s published 12-month rate of 10% (as published: “Upto 10%”).
You deposit for a fixed period — typically 1 to 12 months — at a fixed rate (set by the bank at the time of deposit) that does not change during the term.
Most FDs pay all interest as a lump sum when the term ends. Some banks offer monthly interest on larger deposits.
Most Kenyan banks forfeit all accrued interest on early withdrawal. Each bank’s stated penalty is listed in the rates-by-bank notes below — check it before you lock money away.
Deposits are insured by KDIC up to KES 500,000 per depositor per institution (as of March 2026).
I&M Bank publishes fixed deposit rates of 1 month 4.55%, 3 months 5.05%, 6 months 5.55% and 12 months 5.70%. After the 15% withholding tax the 12-month rate is about 4.84%, 12th of the 19 banks that publish a 12-month rate. The minimum deposit is KES 50,000. On early withdrawal: No Interest earned on amount saved. Last checked 15 September 2026 against the bank’s website.
Diamond Trust Bank publishes fixed deposit rates of 1 month 4.50%, 3 months 4.75%, 6 months 5.20% and 12 months 5.75%. After the 15% withholding tax the 12-month rate is about 4.89%, 10th of the 19 banks that publish a 12-month rate. The minimum deposit is KES 20,000. On early withdrawal: No Interest earned on amount saved. Last checked 10 April 2026 by phone with the bank.
KCB Bank publishes fixed deposit rates of 1 month 5.25%, 3 months 5.75%, 6 months 5.75% and 12 months 6.50%. After the 15% withholding tax the 12-month rate is about 5.52%, 8th of the 19 banks that publish a 12-month rate. The minimum deposit is KES 50,000. On early withdrawal: No interest earned on amount saved. Last checked 15 September 2026 by phone with the bank.
Equity Bank publishes a 12-month fixed deposit rate of up to 5.00% — "up to" because the rate is tiered, ranged or negotiable and depends on the amount you deposit. The minimum deposit is KES 50,000. On early withdrawal: No interest earned on amount saved. Last checked 15 September 2026 by phone with the bank.
Co-operative Bank publishes fixed deposit rates of 1 month 3.50%, 3 months 4.50%, 6 months 4.75% and 12 months 5.00%. After the 15% withholding tax the 12-month rate is about 4.25%, 15th of the 19 banks that publish a 12-month rate. The minimum deposit is KES 50,000. On early withdrawal: No Interest earned on amount saved. Last checked 15 September 2026 by phone with the bank.
NCBA Bank publishes fixed deposit rates of 3 months 7.40%, 6 months 7.83% and 12 months 8.64%. After the 15% withholding tax the 12-month rate is about 7.34%, 4th of the 19 banks that publish a 12-month rate. The minimum deposit is KES 100,000. On early withdrawal: No Interest earned on amount saved. Last checked 15 September 2026 by phone with the bank.
Stanbic Bank publishes fixed deposit rates of 1 month 4.50%, 3 months 5.00%, 6 months 5.25% and 12 months 6.00%. After the 15% withholding tax the 12-month rate is about 5.1%, 9th of the 19 banks that publish a 12-month rate. The minimum deposit is KES 20,000. On early withdrawal: No Interest earned on amount saved. Last checked 15 September 2026 by phone with the bank.
ABSA Kenya publishes fixed deposit rates of 1 month up to 1.00%, 3 months up to 3.60%, 6 months up to 3.80% and 12 months up to 4.00% — "up to" because the rate is tiered, ranged or negotiable and depends on the amount you deposit. The minimum deposit is KES 100,000. On early withdrawal: No Interest earned on amount saved. Last checked 15 September 2026 by phone with the bank.
Standard Chartered publishes fixed deposit rates of 1 month up to 1.75%, 3 months up to 3.75%, 6 months up to 4.50% and 12 months up to 5.00% — "up to" because the rate is tiered, ranged or negotiable and depends on the amount you deposit. The minimum deposit is KES 100,000. On early withdrawal: No Interest earned on amount saved and charges might apply. Last checked 15 September 2026 against the bank’s website.
Family Bank does not publish a fixed deposit rate; when we checked, the bank said the rate depends on the amount you deposit, so ask for a quote and compare it with the table above. The minimum deposit is KES 30,000. On early withdrawal: Interest portion is paid in case of pre-mature withdrawal of deposit. Last checked 8 April 2026 by phone with the bank.
Build wealth with higher-yielding alternatives — compare MMFs (avg ~9.4%), treasury bonds, and more.
A deposit locks its rate for the term; a money market fund’s rate moves daily, and both are taxed at 15%. Put two funds side by side, then set them against the bank rates above.
Source: Serrari Group (serrarigroup.com/ke/fd), Serrari Kenya KES Fixed Deposit Index: 6.57% across 19 banks, as last checked 15 September 2026.
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