The latest data on commercial banks’ average interest rates for May 2025 reveals a varied landscape across Kenya’s commercial banks, for both lending and deposit rates. The data is from the Central Bank of Kenya (CBK).
Commercial bank lending rates in May 2025 show a spread among banks, indicating different cost structures for borrowers. Citibank N.A. Kenya consistently offered the lowest lending rate at 13.50% from December 2024 through May 2025, suggesting a stable and competitive offering for its clients. Standard Chartered Bank Kenya Limited also maintained a low and consistent lending rate of 13.00% during the same period.
On the higher end of the spectrum, several banks showed rates above the overall average. For instance, Commercial Bank of Africa (CBA) Kenya Limited, National Bank of Kenya Limited, and Middle East Bank (K) Limited had lending rates in the range of 18.00% to 18.50% in May 2025. The overall average lending interest rate across all listed banks stood at 15.44% in May 2025, showing a slight decrease from 15.89% in December 2024.
Deposit rates, which reflect the returns on savings, also varied significantly among institutions. Citibank N.A. Kenya offered a consistent 9.00% deposit rate from December 2024 to May 2025, aligning with its low lending rates. Similarly, Standard Chartered Bank Kenya Limited maintained a steady 8.70% deposit rate.
Conversely, banks with higher lending rates generally offered more attractive deposit rates. Commercial Bank of Africa (CBA) Kenya Limited, for example, had a deposit rate of 13.00% in May 2025. The overall average deposit interest rate for May 2025 was 10.74%, also showing an increase from 10.44% in December 2024. This upward movement in deposit rates could be an incentive for savers, reflecting a competitive environment for attracting deposits.