Updated Fixed Deposit Rates in Kenya

Simon Mwangi

This post will provide a list of financial institutions in Kenya that provide the best-fixed deposit rates.

Are you a new investor or just an ordinary person who wants to invest their money but doesn’t know where to start? You’ll learn more about Fixed Deposit Accounts.

Many people, especially those looking to invest, opt for fixed deposits since the rates have proven to be one of the safest ways of growing your money with fixed interest rates.

A fixed deposit account is an investment account that requires a fixed amount of money to be invested for a fixed period at a fixed rate of interest.

Best Fixed Deposit Rates in Kenya

Here is a list of banks with the best-fixed deposit rates in Kenya.

1. KCB Bank

KCB Bank has one of the most competitive fixed deposit rates for local and foreign currencies on various tenors specific to your requirements.

Money deposited in the fixed deposit rate account must remain in the account for the period signed between the bank and the client. KCB fixed deposit interest rates of up to 6% p.a. on your savings.

With the KCB fixed deposit rate account, you can determine the returns you get from your investment. Since the investment amount is not limited, you can decide the initial amount to save.

2. Cooperative Bank of Kenya

The cooperative bank of Kenya’s investment account is where a customer deposits a specified amount for a specific/fixed time.

The savings period ranges from 1 to 12 months. The customer is paid a competitive rate for the money held in the account.

3. Equity Bank


  • This account allows a minimum fixing amount of KES 20,000
  • The minimum period allowed is one (1) month
  • It provides the allowance to negotiate the interest rate


  • Premature withdrawal of deposits is allowed on this account
  • Instant loans of up to 80% of your savings at discounted rates.
  • This account offers the most competitive interest rates.
  • Enjoy access to instant loans of up to 90% of your savings at 24-hour support through 0763063000 and [email protected].


  • Individuals (singly or jointly) -Original Identification document & KRA Pin.
  • Registered entities on account opening requirements as per account opening requirements.

The minimum fixed deposit interest for Equity Bank is 6.65%. The rates were adjusted to match the Central Bank of Kenya’s 9.5%.

4. ABSA Bank

Absa Bank happens to be one of the banks with the best-fixed deposit rates.

With Absa bank fixed deposit rates, the higher the amount you save with them, the higher your interest. The minimum deposit amount for opening this account is KES 50,000. You get to invest the money for an agreed period of your choosing. one can make interest payments directly to a Barclays account.

ABSA fixed deposit account is available in Kenyan and foreign currencies. The bank account can also act as security if you plan on taking a loan from the bank.

5. National Bank of Kenya

The National Bank has two types of fixed deposits.

  • The ordinary fixed deposit account: In this particular account, the minimum you can deposit is KES 20,000. It allows investments of different durations hence serving the majority of Kenyans.
  • High-yield fixed deposit account: Individuals interested in investing from KES 1Million and above. This is hence termed for the chosen few.

Customers who desire to invest can then save between one month to 12 months; their interest rates will differ by the amount deposited for investment by the individual.

In addition, you have the choice to run the account in KES, USD, GBP, or EUR.


  • Kenyan ID/ valid Kenyan passport
  • Proof of address and photo

6. Family Bank

You can most probably earn competitive interest rates when you invest your money in their Fixed Deposit Account.


  • Flexible terms of 1, 3, 6, 9, and 12 months
  • Fast access to loans of up to 90% of the deposit amount
  • The lower interest rate on loans secured by the deposit


  • Competitive interest rates offered
  • The interest portion is paid in case of premature withdrawal of the deposit
  • Automatic roll-over upon maturity can be pre-arranged
  • No charges on fixed deposit account
  • Certificate available on the placement


  • Minimum deposit amount of KES 30,000

7. Standard Chartered

The Standard Chartered Bank fixed deposit interest rates are calculated daily and paid on maturity.

Compared to other banks, the minimum deposit you can deposit is KES 100,000, which can then be saved over a fixed duration of one, three, six, or twelve months.

The account can act as security in an overdraft, or you want a loan.

Your returns are guaranteed and can be re-invested upon your request or even earn interest per tenure. Your statements and balance information are also available on request.

8. I&M Bank

I&M Bank offers fixed deposit accounts for fixed contracted periods ranging from 1 month to 1 year.

If you are searching for attractive savings growth opportunities, I&M is an excellent choice because they offer attractive interest rates. As from 6.5% p.a.

You can open your FD account in different currencies, including Kenyan Shillings, Dollars, Euros, South African Rand, and GB Pounds.

The minimum deposit is KES. 50,000. I&M interest rates vary depending on the amount and tenor.

How does a Fixed Deposit Account work?

You lock the amount for a fixed period when you put your money to work in fixed deposits. You can earn interest on the principal sum throughout the tenure on a cumulative basis. The interest earned gets added to the principal amount after every specific interval.

Fixed deposits are not like any other bank account. You can deposit money for a short period of 7 days and up to 10 years for this one.

Since the tenures are flexible, you can manage multiple FD accounts spread across different tenures. That way, you will be able to earn more on your investments.

You cannot access the money whenever you want to until the agreed time between you and your bank elapse in a fixed deposit.

Do you know any other bank with reasonable fixed deposit interest rates in Kenya? Let us know in the comments.

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As a freelance writer with a background in banking and accounting, Simon has the financial know-how to produce quality content on various topics. His experience gives him a strong foundation in understanding complex financial concepts and communicating them in an easy-to-understand way.
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