Bank Lending Rates in Kenya

The Central Bank of Kenya (CBK) made a move in August by reducing its benchmark interest rate from 13% to 12.75%. This decision was a response to the ongoing efforts to stabilize both inflation and the country’s exchange rate.

Several Kenyan banks followed suit by adjusting their own loan rates in response to the CBK’s rate cut.

These fluctuations in loan rates have a direct impact on the financial landscape of Kenya. They influence how much individuals and businesses can borrow, which, in turn, affects their spending, saving, and investment decisions.

Lower loan rates often encourage increased borrowing, especially for larger amounts, providing valuable capital for individuals and businesses to start or expand their ventures.

Below is a list of Kenyan banks and the loan rates they currently charge:

Lowest Interest Rates

1. Premier Bank loan interest rate: 9%
2. Access Bank loan interest rate: 11.37%
3. Diamond Trust Bank loan interest rate: 12.39%
4. Consolidated Bank loan interest rate: 13.39%
5. Kingdom Bank loan interest rate: 14.2%
6. Guardian Bank loan interest rate: 14.67%
7. Ecobank loan interest rate: 14.72%
8. Bank of India loan interest rate: 14.94%
9. Co-op Bank loan interest rate: 15.18%
10. Paramount Bank loan interest rate: 15.35%

Moderate Interest Rates

1. Habib Bank loan interest rate: 15.38%
2. UBA Kenya loan interest rate: 15.55%
3. Gulf African Bank loan interest rate: 15.68%
4. Equity Bank loan interest rate: 16.02%
5. Family Bank loan interest rate: 16.13%
6. DIB Bank loan interest rate: 16.27%
7. KCB Bank loan interest rate: 16.4%
8. Development Bank loan interest rate: 16.46%
9. National Bank loan interest rate: 16.82%
10. Guaranty Trust Bank loan interest rate: 16.85%
11. Prime Bank loan interest rate: 16.85%

Highest Interest Rates

1. I&M Bank loan interest rate: 18.48%
2. Bank of Africa loan interest rate: 18.51%
3. Victoria Commercial Bank loan interest rate: 18.75%
4. NCBA Bank loan interest rate: 19.12%
5. Commercial International Bank (CIB) loan interest rate: 19.2%
6. Sidian Bank loan interest rate: 19.74%
7. ABSA Bank loan interest rate: 19.82%
8. SBM Bank loan interest rate: 19.91%
9. HFC Bank loan interest rate: 20.12%
10. Credit Bank loan interest rate: 20.32%
11. Middle East Bank loan interest rate: 20.96%