Deposit Interest Rates Statistics in Kenya (2026)
Kenya recorded the average deposit interest rate of 12% in 2024, World Bank World Development Indicators data show. Up from 9.2% in 2023 to 12% in 2024 (+2.8 percentage points). Kenya ranks #3 of 27 economies in Sub-Saharan Africa on this measure, and #8 of 113 globally.
Key Statistics
- Latest value (2024)
- 12% (2024)
- Deposit Interest Rates in Kenya as of 2024, the most recent observation in World Bank World Development Indicators data.
- Change since 2023
- +2.8 pp (2024)
- Up from 9.2% in 2023 to 12% in 2024 (+2.8 percentage points).
- Earliest value in this dataset (1990)
- 13.7% (1990)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 13.7% in 1990 to 12% in 2024.
- Peak value (1998)
- 18.4% (1998)
- Highest value in the available series; the 2024 value is 12%.
- Rank in Sub-Saharan Africa
- #3 of 27 (2024)
- Kenya ranks 3 of 27 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #8 of 113 (2024)
- Kenya ranks 8 of 113 countries with data globally.
- Sub-Saharan Africa average
- 6.3% (2024)
- Kenya (12%) is above the average of 6.3% across the 27 countries in Sub-Saharan Africa with data.
- Interest rate spread (lending rate minus deposit rate, %) (2024)
- 4.6% (2024)
- Related indicator from World Bank World Development Indicators.
- Internet use in Kenya (2024)
- 35% (2024)
- 35% of the population in Kenya used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 56.4 million (2024)
- Kenya had a population of 56.4 million in 2024 (World Bank); shown for scale only.
Trend, 1990–2024
| Year | % | Change |
|---|---|---|
| 2024 | 12% | +2.8 pp |
| 2023 | 9.2% | +2.0 pp |
| 2022 | 7.1% | +0.5 pp |
| 2021 | 6.7% | −0.3 pp |
| 2020 | 7% | −0.5 pp |
| 2019 | 7.5% | −0.8 pp |
| 2018 | 8.3% | +0.6 pp |
| 2017 | 7.7% | −1.0 pp |
| 2016 | 8.7% | −0.5 pp |
| 2015 | 9.2% | +0.8 pp |
| 2014 | 8.4% | −0.3 pp |
| 2013 | 8.6% | −2.9 pp |
| 2012 | 11.6% | +5.9 pp |
| 2011 | 5.6% | +1.1 pp |
| 2010 | 4.6% | −1.4 pp |
| 2009 | 6% | +0.7 pp |
| 2008 | 5.3% | +0.1 pp |
| 2007 | 5.2% | +0.0 pp |
| 2006 | 5.1% | +0.1 pp |
| 2005 | 5.1% | +2.6 pp |
| 2004 | 2.4% | −1.7 pp |
| 2003 | 4.1% | −1.4 pp |
| 2002 | 5.5% | −1.2 pp |
| 2001 | 6.6% | −1.5 pp |
| 2000 | 8.1% | −1.4 pp |
| 1999 | 9.6% | −8.8 pp |
| 1998 | 18.4% | +1.7 pp |
| 1997 | 16.7% | −0.9 pp |
| 1996 | 17.6% | +4.0 pp |
| 1995 | 13.6% | −2.1 pp |
| 1994 | 15.7% | +1.2 pp |
| 1991 | 14.5% | +0.8 pp |
| 1990 | 13.7% | — |
Frequently asked questions
What is the latest figure for average deposit interest rate in Kenya?
The average deposit interest rate in Kenya stood at 12% in 2024, according to World Bank World Development Indicators data.
Where does Kenya rank globally on deposit interest rates?
Kenya ranks 8 of 113 countries with data globally, based on the latest World Bank World Development Indicators value for each country.
When did deposit interest rates in Kenya peak?
The highest value in the available series was 18.4% in 1998; the latest (2024) value is 12%.
Source & methodology
Source: World Bank, World Development Indicators, indicator
FR.INR.DPST, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .