Compare savings & fixed deposit rates in Kenya

By the Rateweb editorial team · How we rate · Product details checked 26 Jul 2026

Compare where Kenyan shillings actually earn. Treasury bills — set at the Central Bank's weekly auction and buyable yourself on DhowCSD — are the benchmark every savings rate should beat. Money market funds pay a variable, daily-accruing yield and are the mainstream step up from a bank account; SACCOs reward long-term members with dividends and cheap loans. MMF and T-bill yields move constantly and are taxed (15% withholding), so we don't freeze a number here — check the live rate on each provider. Bank deposits are KDIC-insured up to KSh 500,000 per depositor; MMFs and SACCOs are protected differently, not by KDIC. Only deal with CBK/CMA/SASRA-licensed institutions.

⭐ Ratings & awards are Rateweb's independent editorial opinion — how we rate.

🎯 Not sure which is right for you? Get a personalised plan ranked for your situation. Get my plan →
Filter & sort
5 results
Government benchmark

Treasury Bills (91 / 182 / 364-day)

A direct obligation of the Government of Kenya, auctioned weekly by the Central Bank and buyable yourself — no broker — through the DhowCSD portal. The benchmark every shilling savings rate should be measured against.
★★★★★
4.6/5 · How we rate
91, 182 and 364 days (weekly auction)
Tenors
Set at the weekly CBK auction — check the current rate at centralbank.go.ke
Yield
KSh 50,000 (non-competitive bid), in multiples of KSh 50,000
Minimum
Open a free CSD account on DhowCSD (dhowcsd.centralbank.go.ke)
How To Buy
15% withholding tax on the interest
Tax
Government of Kenya — lowest-risk shilling investment (not a bank deposit; not KDIC)
Risk
fixed
Access
Pros
  • Government risk — the cleanest shilling benchmark
  • Buy directly on DhowCSD, no intermediary
  • Known return if held to maturity
Cons
  • KSh 50,000 minimum, in 50k steps
  • Locked for the tenor — not instant-access like an MMF
  • Rate changes every week
Current rates at the Central Bank Full details & review →
Largest MMF

Sanlam Money Market Fund

Kenya's largest money market fund by assets, CMA-regulated and one of the easiest to join — fund it straight from M-Pesa with a low minimum. A conservative, mainstream home for goal money and emergency funds.
★★★★★
4.5/5 · How we rate
CMA-licensed collective investment scheme (Sanlam)
Regulator
About KSh 2,500 to open; top-ups from ~KSh 1,000
Minimum
Direct via M-Pesa paybill
Funding
Variable, accrues daily — check the current net rate (moves weekly; 15% WHT applies)
Yield
Withdraw in a couple of business days
Access
Manager / independent trustee / custodian structure — not KDIC-insured
Protection
Pros
  • Largest fund by AUM, long track record
  • Low entry and M-Pesa funding
  • Daily interest, accessible within days
Cons
  • Yield is around the industry average, not the top
  • Not KDIC-insured (structural protection instead)
  • Returns vary with market rates
Read our Sanlam MMF review Full details & review →

CIC Money Market Fund

One of Kenya's largest and longest-running money market funds, run by CIC Asset Management and CMA-regulated. A solid, conservative, mainstream option for savers who want a big-name manager.
★★★★☆
4.4/5 · How we rate
CMA-licensed collective investment scheme (CIC Asset Management)
Regulator
About KSh 5,000 to open; top-ups from ~KSh 1,000
Minimum
Variable, accrues daily — check the current net rate (moves weekly; 15% WHT applies)
Yield
Withdrawals typically settle in ~2 business days (T+2)
Access
Manager / independent trustee / custodian structure — not KDIC-insured
Protection
Pros
  • Large, established fund and manager
  • Daily interest, a real step up from a bank account
  • CMA three-party protection structure
Cons
  • Typically mid-pack on yield
  • Higher minimum than some rivals
  • Not KDIC-insured
Read our CIC MMF review Full details & review →
Best for borrowing power

Stima Sacco

One of Kenya's largest deposit-taking SACCOs (SASRA-regulated, 177,000+ members, assets over KSh 75bn). Rewards long-term members with dividends that beat banks and cheap loans at a multiple of deposits.
★★★★☆
4.3/5 · How we rate
SASRA-licensed deposit-taking SACCO
Regulator
FY2024: 16% dividend on shares, 11% rebate on deposits (declared annually — varies)
Returns
Loans up to ~3x your deposits, at rates below most banks
Borrowing
Share capital is locked while you are a member — long-term money
Commitment
SASRA framework (deposit-guarantee scheme developing) — not KDIC-insured
Protection
fixed
Access
Pros
  • Returns and borrowing power banks can't match
  • Large, strong, SASRA-regulated
  • Cheap member loans at a multiple of savings
Cons
  • Share capital is illiquid
  • No KDIC cover
  • Rewards disciplined, long-term saving
Read our Stima Sacco review Full details & review →
Instant access

M-Shwari (savings)

The savings account inside M-Pesa, from NCBA and Safaricom. Instant to move money in and out, plus a Lock Savings option — safe and convenient, but the yield is convenience-priced, not growth-priced.
★★★★☆
4.0/5 · How we rate
NCBA (CBK-licensed bank) × Safaricom
Provider
Instant, inside the M-Pesa menu (*334#)
Access
Modest annual interest (mid-single digits) — below an MMF
Yield
Lock Savings commits funds for a fixed term
Extra
NCBA deposit — KDIC-insured up to KSh 500,000
Protection
Pros
  • Instant, inside M-Pesa, no app needed
  • A regulated bank product (KDIC-covered)
  • Lock Savings enforces discipline
Cons
  • Low yield — a buffer, not a growth home
  • Safaricom line required
  • An MMF or SACCO pays far more
Read our M-Shwari review Full details & review →

Ratings are Rateweb's editorial opinion. Product details can change — always confirm with the provider before applying. Rateweb may earn a commission on some applications. This is general information, not financial advice.

People also compare

Bank accounts 5 options →