The Central Bank of Kenya (CBK) has published the interest rates of all banks across the country, providing a comprehensive overview of the loan rates offered by various financial institutions. The report indicates a wide range of interest rates, from the most affordable to the highest, for both overall loans and personal loans spanning repayment periods of one to five years.
Banks with the Lowest Interest Rates
Premier Bank leads the list of banks with the lowest interest rates, offering a highly competitive rate of 9 percent for both overall and personal loans. Access Bank follows closely with an interest rate of 11.37 percent.
Other banks with relatively low rates include Diamond Trust Bank (DTB) at 12.39 percent, Consolidated Bank at 13.39 percent, Kingdom Bank at 14.20 percent, and Guardian Bank at 14.67 percent.
Ecobank Kenya Limited offers an overall rate of 14.72 percent, while Bank of India provides a slightly higher rate of 14.94 percent. Cooperative Bank of Kenya’s rate stands at 15.18 percent, with Paramount Bank Limited offering 15.35 percent.
Moderate Interest Rates
Several banks fall within the mid-range of interest rates. Habib Bank A.G Zurich, UBA Kenya Bank, Gulf African Bank, and Equity Bank have rates of 15.38 percent, 15.55 percent, 15.68 percent, and 16.02 percent, respectively.
Family Bank Limited offers a rate of 16.13 percent, followed by DIB Bank Kenya Limited at 16.27 percent and KCB Bank at 16.40 percent.
Development Bank of Kenya Limited’s rate is set at 16.46 percent, and National Bank follows closely at 16.82 percent. Both Guaranty Trust Bank and Prime Bank provide interest rates of 16.85 percent.
Banks with Interest Rates Above 17%
Some banks offer interest rates exceeding 17 percent, marking them as relatively high compared to others. African Banking Corporation Limited offers a rate of 17.19 percent. Standard Chartered Bank and Stanbic Bank set their rates at 17.32 percent and 17.49 percent, respectively. M-Oriental Bank Limited comes in at 17.58 percent, with Bank of Baroda (Kenya) Limited offering 17.73 percent and Citibank N.A Kenya at 17.98 percent.
High-Interest Rate Banks
A few banks offer rates that are notably higher, making borrowing costs more significant for customers. I&M Bank has an interest rate of 18.48 percent, and Bank of Africa follows closely at 18.51 percent. Victoria Commercial Bank PLC provides a rate of 18.75 percent, while NCBA Bank Kenya PLC stands at 19.12 percent.
Commercial International Bank (CIB) offers a rate of 19.20 percent, Sidian Bank stands at 19.74 percent, ABSA Bank Kenya PLC at 19.82 percent, and SBM Bank Kenya Limited at 19.91 percent. HFC Limited’s rate is set at 20.12 percent, with Credit Bank PLC at 20.32 percent and Middle East Bank at 20.96 percent.
Banks with the Highest Interest Rates
Among the banks with the highest interest rates, Credit Bank leads with an interest rate of 23.22 percent for loans with a repayment period of one to five years. SBM Bank and Middle East Bank follow, offering rates of 21.82 percent and 21.44 percent, respectively.
ABSA Bank offers a rate of 21.19 percent, NCBA Bank at 21.14 percent, I&M Bank at 20.78 percent, and Guaranty Trust Bank at 20.77 percent. Sidian Bank provides a rate of 20.58 percent, Commercial International Bank (CIB) stands at 20.57 percent, HFC Bank at 20.42 percent, and Bank of Africa at 19.82 percent.
