Most Kenyans in Kenya prefer saving in fixed deposit accounts because they have the best interest rates. Among the best banks to save include:
- CBA
- KCB
- Standard Chartered Bank
- Equity Bank
- Cooperative Bank of Kenya
- Barclays Bank
- CFC Stanbic Bank
- Family Bank
- Bank of Africa
When saving your money in a bank, there are several things to consider, such as stability of the bank, profitability and ownership.
When it comes to interest rates, every bank would like to attract customers by giving out attractive rates, but they all depend on the company’s investment strategies. If a bank invests wisely, it will have the best interest rates.
The interest rates are also determined that Central Bank policies like interest rates cap, the amount of money one saves periodically and how well a customer negotiates with the bank.
Based on customers’ reviews, here are the banks with the best and worst fixed deposit account interest rates:
| BANK NAME | FIXED DEPOSIT INTEREST RATE(%) |
| African Banking Corp. Ltd | N/A |
| Bank of Africa Kenya Ltd. | 3-6 |
| Bank of India | 3-5 |
| Bank of Baroda (K) Ltd | 3-5 |
| Barclays Bank of Kenya Ltd | 4-8 |
| CfC Stanbic Bank Ltd | 4-9 |
| Chase Bank (K) Ltd. | 3-6 |
| Citibank N.A. | N/A |
| Commercial Bank of Africa Ltd | 5-9 |
| Consolidated Bank of Kenya Ltd | 2-5 |
| Co-operative Bank of Kenya Ltd | 3-7 |
| Credit Bank Ltd | 3-6 |
| Development Bank (K) Ltd | N/A |
| Diamond Trust Bank (K) Ltd | 3-8 |
| Dubai Bank Ltd | 3-5 |
| Ecobank Limited | 4-8 |
| Equatorial Commercial Bank Ltd | 4-7 |
| Equity Bank Ltd | 2-6 |
| Family Bank Ltd | 3-7 |
| Faulu Bank | 4-8 |
| Fidelity Commercial Bank Ltd | 2-5 |
| Fina Bank Ltd | 3-6 |
| First Community Bank Ltd | 3-6 |
| Guardian Bank Ltd | 2-4 |
| Gulf African Bank Ltd | 3-7 |
| Habib Bank A.G. Zurich | 3-6 |
| Habib Bank Ltd | 3-6 |
| I & M Bank Ltd. | 4-8 |
| Jamii Bora Bank Ltd | 2-6 |
| K-Rep Bank Ltd | 2-5 |
| Kenya Commercial Bank Ltd | 3-7 |
| Middle East Bank (K) Ltd | 3-6 |
| National Bank of Kenya Ltd | 2-6 |
| NIC Bank Ltd | 4-9 |
| Oriental Bank Ltd | 3-5 |
| Paramount Universal Bank Ltd | 3-5 |
| Prime Bank Ltd. | 2-5 |
| Postbank | 1-4 |
| Standard Chartered Bank (K) Ltd | 4-9 |
| Transnational Bank Ltd | 2-5 |
| UBA Kenya Bank Ltd | 3-5 |
| Victoria Commercial Bank Ltd | 3-6 |
Some of the most attractive banks in terms of fixed deposit accounts are:
- NIC
- Commerical Bank of Africa
- Barclays Bank
- Standard Chartered Bank
- CFC Stanbic Bank
If you negotiate well,you can get interest rate of up to 9%.
