The Central Bank of Kenya (CBK) has published the interest rates for all banks across the country after it lowered the base lending rates to 12 per cent.
According to data shared on Friday, November 29, the majority of commercial banks in the country have increased overall lending rates in the three months to October.
The review showed that Premier Bank stands out as the financial institution with the lowest interest rate set at nine per cent for overall loans and personal, business and corporate loans spanning a repayment duration of one to five years and loans above five years.
Access Bank follows closely with an interest rate of 11.43 per cent, Diamond Trust Bank (DTB) at 12. 44 per cent, Consolidated Bank at 13.46 per cent, and Kingdom Bank at 14.13 per cent.
Also Read: Kenyans to Enjoy Cheap Loans as CBK Lowers Interest Rates
The Guardian Bank, Paramount Bank Kenya, Habib Bank AC Zurich, UBA Kenya and Bank of India, have an overall interest rate of 14.49, 14.86, 15.22, 15.47,15.50 per cent respectively.
Eco bank, Gulf Africa, Equity Bank and DIB Bank offer loans at interest rates of 15.52%, 15.82%, 16.18% and 16.41 per cent respectively.
Top 10 Lowest Bank Loans
| BANK | OVERALL INTEREST RATES (%) |
| Premier Bank | 9 |
| Access Bank | 11.43 |
| Diamond Trust Bank | 12.44 |
| Consolidated Bank | 13.46 |
| Kingdom Bank | 14.13 |
| Guardian Bank | 14.49 |
| Habib Bank Kenya | 15.22 |
| UBA Bank | 15.47 |
| Bank of India | 15.50 |
| Ecobank | 15.52 |
Guaranty Trust Bank offers a rate of 16.47 per cent, while National Bank of Kenya stands at 16.55 per cent.
Family Bank Limited has an overall rate of 16.64 per cent, followed by Bank of Baroda Kenya at 16.74 per cent, KCB Bank at 16.76 per cent and Co-operative bank at 16.90 percent.
Development Bank of Kenya Limited stands at 17.11 per cent, Standard Chartered Bank at 17.37 percent, while Stanbic Bank offers interest rate of 17.44 per cent.
Prime Bank Limited follows closely at 17.59 per cent, African Bank Corporation at 17.61 per cent, Citibank N.A Kenya at 18.34 per cent and M-Oriental Bank at 18.37per cent.
Other Banks include I&M Bank with an interest rate of 18.48 per cent, Bank of Africa at 18.77 per cent, NCBA Bank Kenya PLC stands at 19.15 per cent, while Victoria Commercial Bank PLC offers 19.38 per cent.
Additionally, ABSA Bank Kenya PLC has an overall loan interest of 19.80 per cent, followed by Sidian Bank at 19.94 percent and SBM Bank Kenya Limited at 19.99 per cent.
Banks with an overall interest rate above 20 percent include Credit Bank at 20.16 per cent, Commercial International Bank (CIB) at 20.20 per cent, HFC Bank at 20.49 per cent, and Middle East Bank at 21.19 per cent.
Also Read: Equity Bank Announces Cheaper Loans
Top 10 Banks with The Highest Interest Rates
| BANK | OVERALL INTEREST RATES (%) |
| Middle East Bank | 21.19 |
| HFC Limited | 20.49 |
| Commercial International Bank | 20.20 |
| Credit Bank | 20.16 |
| SBM Bank | 19.99 |
| Sidian Bank | 19.94 |
| Absa Bank | 19.80 |
| Victoria Bank | 19.38 |
| NCBA Bank | 19.15 |
| Bank of Africa | 18.77 |
Banks with the Least Interest Rates for 1-5 Year Loans
Ecobank offers an interest rate of 11.06 per cent, while Access Bank offers 11.33 per cent for a period of one to five years.
Diamond Trust Bank (DTB) has set its interest rate at 11.47 per cent, while Consolidated Bank offers a slightly higher rate of 12.00 per cent.
Kingdom Bank offers an interest rate of 13 per cent, followed by Ecobank and Gulf African Bank with interest rates of 14.10 per cent and 14.65 per cent, respectively.
Bank of India, Guardian Bank, and DIB Bank of Kenya have interest rates of 15.70 per cent, 15.79 per cent, and 15.83 per cent, respectively.
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