Fixed Deposit Calculator Kenya — Interest After 15% Withholding Tax
Choose a bank or enter the rate you were quoted, pick a term, and see exactly what a Kenyan fixed deposit pays after the 15% withholding tax.
Deposit KES 100,000 for 12 months at KCB Bank's published rate of 6.50% a year and the bank credits KES 6,500 of interest, deducts KES 975 withholding tax, and pays you KES 105,525 when the term ends — about KES 460 a month after tax. Withdraw early and most banks forfeit the interest.
Bank rates are from Serrari’s fixed deposit rates table — check each bank’s date there and confirm your rate with the bank before depositing.
How Fixed Deposit Interest Is Calculated
A fixed deposit earns simple interest for its term — interest is not added to your balance until the deposit matures. The bank then deducts 15% withholding tax, so a 10% rate puts about 8.5% in your account. Rolling the deposit over at maturity is what compounds it. See the Tax on Returns Calculator for tax across products, or the Simple Interest Calculator for the raw formula.
What KES 100,000, 500,000 and 1 Million Earn in 12 Months
Net interest after the 15% withholding tax, at each bank’s published 12-month rate. Every bank in our rate sheet is listed; “up to” figures use the top of a tiered or negotiable rate.
| Bank (12-month rate) | KES 100,000 | KES 500,000 | KES 1,000,000 |
|---|---|---|---|
| Kingdom Bank (up to 10.00%) | 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 to 9.50%) | 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 to 8.50%) | up toKES 7,225 | up toKES 36,125 | up toKES 72,250 |
| Gulf-African (up to 7.00%) | up toKES 5,950 | up toKES 29,750 | up toKES 59,500 |
| Sidian Bank (up to 6.55%) | 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 to 5.50%) | 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 to 5.00%) | up toKES 4,250 | up toKES 21,250 | up toKES 42,500 |
| HF Group (up to 5.00%) | up toKES 4,250 | up toKES 21,250 | up toKES 42,500 |
| Standard Chartered (up to 5.00%) | up toKES 4,250 | up toKES 21,250 | up toKES 42,500 |
| ABSA Kenya (up to 4.00%) | 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 |
Before You Lock Money in a Fixed Deposit
A fixed deposit guarantees the rate but ties your money up: break it early and most banks keep the interest. Bank deposits are covered by KDIC deposit insurance up to its limit, which money market funds are not. If you may need the cash before the term ends, compare money market fund rates, which you can withdraw from at any time, or Treasury Bill rates.
Fixed Deposit Calculator — FAQ
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