The Central Bank of Kenya (CBK) has released updated lending and deposit rates for 38 commercial banks as of June 2026, highlighting significant disparities in borrowing costs across the sector.

Loan Rates: Wide Gap Between Most and Least Expensive Banks

Credit Bank PLC tops the list as the costliest lender, with a loan rate of 18.89%, up from 17.92% in May 2026. It is followed by Access Bank Kenya at 17.57%, Bank of Africa at 17.50%, SBM Bank Kenya at 17.38%, and Kingdom Bank at 17.02%.

On the opposite end, Citibank N.A. Kenya offers the cheapest loans at 10.49%, with Standard Chartered Bank Kenya close behind at 11.49% and Stanbic Bank Kenya at 11.50%. Other affordable lenders include Habib AG Zurich at 12.58% and HFC Limited at 13.01%.

Average Lending Rate Trends and Mid-Tier Banks

The sector-wide average lending rate declined to 14.38% in June 2026, continuing a downward trend that began in late 2024 following a series of Central Bank rate cuts. Mid-range banks cluster near this average, with Co-operative Bank at 15.08%, Equity Bank at 14.82%, KCB Bank at 14.81%, and NCBA Bank at 14.57%.

Notable Rate Changes Month-on-Month

  • Premier Bank Kenya reduced its rate sharply from 17.72% in May to 15.49% in June.
  • NCBA lowered its rate from 15.16% to 14.57%.
  • KCB Bank edged down slightly to 14.81% from 14.85%.
  • Conversely, Credit Bank increased from 17.92% to 18.89%, the steepest rise among lenders.
  • Bank of Baroda, Middle East Bank, and Kingdom Bank also recorded moderate increases.

Deposit Rates Across Banks

For depositors, Credit Bank again leads with the highest deposit interest rate at 11.05%, followed by Middle East Bank at 9.19% and Kingdom Bank at 9.08%. Standard Chartered offers the lowest deposit rate at 3.00%, while Citibank and NCBA provide 4.23% and 5.16%, respectively.

CBK Monetary Policy Impact

The CBK’s Monetary Policy Committee held the Central Bank Rate steady at 8.75% in June 2026 after a series of cuts totaling 425 basis points since early 2024. These reductions have gradually translated into lower commercial lending rates, supporting private sector credit growth, which rebounded to 9.3% in May 2026 after a prior contraction.

The CBK continues to monitor global inflationary pressures, including oil prices, and is prepared to adjust policy as needed. The next policy meeting is scheduled for August 2026.