The Central Bank of Kenya (CBK) has announced the average commercial bank lending rates for December 2024.
In an update on January 29, CBK said the average lending rate is 16.89 compared to 17.22 in November 2024.
The Access Bank (Kenya) PLC has the lowest lending rate of 11.46 followed by Premier Bank Kenya Limited at 12.43.
The Consolidated Bank of Kenya Limited and Kingdom Bank Limited lending rates are 13.46 and 14.11 respectively.
Guardian Bank Limited has a lending rate of 14.55 followed by UBA Kenya Bank Limited (14.69) and Paramount Bank Limited (14.82).
Ecobank Kenya Limited and Standard Chartered Bank Kenya Limited come in next with 15.13 and 15.28 respectively.
Other banks with a lending slightly above 15 include Citibank N.A Kenya (15.33), Stanbic Bank Kenya Limited (15.36), Bank of India (15.40), Gulf African Bank Limited (15.67) and Habib Bank A.G Zurich (15.92).
National Bank of Kenya Limited and Equity Bank Kenya Limited have rates of 16.03 and 16.07 respectively.
The DIB Bank Kenya Limited has a lending rate of 16.51 followed by Guaranty Trust Bank (K) Ltd (16.64), Bank of Baroda (Kenya) Limited (16.68) and Development Bank of Kenya Limited (16.79).
Diamond Trust Bank Kenya Limited, Family Bank Limited and KCB Bank Kenya Limited have lending rates of 16.80, 16.83 and 16.86 respectively.
Besides, Co-operative Bank of Kenya Limited rates stand at 16.90 followed by African Banking Corporation Limited at 17.28.
Other banks with lending rates between 17 and 18 include Prime Bank Limited (17.50), Victoria Commercial Bank PLC (17.67), I&M Bank Limited (17.86) and M-Oriental Bank Limited (17.93).
Additionally, NCBA Bank Kenya PLC’s rate is 18.04, Bank of Africa Kenya Limited’s rate is 18.90, and ABSA Bank Kenya PLC’s rate is 18.95.
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Bank with High Lending Rates
SBM Bank Kenya Limited and Sidian Bank Limited are among the commercial banks with the highest lending rates, at 19.44 and 19.95, respectively.
Banks with lending rates above 20 include HFC Limited (20.17), Commercial International Bank (CIB) Kenya Limited (20.20) and Credit Bank PLC (20.41).
CBK listed Middle East Bank (K) Limited as the bank with highest lending rate at 22.00.
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CBK-Deposit Rates
When it comes to deposit rates, Standard Chartered Bank Kenya Limited offers the lowest rate at 3.00, followed by Premier Bank Kenya Limited at 3.99 and Access Bank (Kenya) PLC at 6.79.
The Consolidated Bank of Kenya offers a rate of 7.32, while Co-operative Bank of Kenya stands at 7.77. Family Bank and Sidian Bank have deposit rates of 7.21 and 7.71, respectively.
On the higher end, Kingdom Bank Limited offers the highest deposit rate at 14.39, followed closely by African Banking Corporation Limited at 14.78. Victoria Commercial Bank PLC also reports a competitive rate of 13.48.
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