The Central Bank of Kenya (CBK) has released the weighted average loan rates for various commercial banks as of July 2024.
The loan data provides a snapshot of the lending environment for individuals and businesses across different banks in Kenya for the month of July. The data is categorized by loan type (Personal, Business, Corporate) and loan maturity (Overdraft, 1-5 Years, Over 5 Years).
The loan rates in the period in question vary across banks and loan categories, with overall rates ranging between 9.00% and 23.94%. The summary of the loan rates for month of July as released by CBK is as follows:
– Lowest Overall loan Rate: Premier Bank Kenya Limited at 9.00%.
– Highest Overall loan Rate: Middle East Bank (K) Limited at 23.94%.
– Personal Loans: Interest rates generally range between 9.00% and 21.48%.
– Business Loans: Rates are mostly within 9.00% to 22.85%.
– Corporate Loans: Interest rates range between 9.00% and 27.00%.
