Best Savings Accounts in Kenya 2026
Compare savings account interest rates, fees, and features from Kenya's top banks. Most bank savings accounts pay 3-5.5% — but money market funds pay 8-11%.
Consider money market funds instead.Bank savings accounts pay 3-5.5%, while MMFs pay 8-11% with similar liquidity. For KES 100,000, that's the difference between KES 5,500 and KES 9,000 in annual interest. Compare MMFs →
| Bank / Product | Interest Rate | Min Balance |
|---|---|---|
M-Shwari (NCBA/Safaricom) M-Shwari Lock Savings | 6.3% | KES 0 |
Family Bank Family Bank Savings | 5.5% | KES 0 |
KCB Bank KCB Goal Savings | 5% | KES 0 |
NCBA Bank NCBA Now Account | 5% | KES 0 |
Absa Kenya Absa Savings Account | 4.5% | KES 1,000 |
I&M Bank I&M Savings Account | 4.5% | KES 2,000 |
Equity Bank Equity Savings Account | 4% | KES 0 |
Stanbic Bank Stanbic PureSave | 4% | KES 1,000 |
Co-operative Bank MCo-op Cash Savings | 3.5% | KES 0 |
Standard Chartered SC Savings Account | 3% | KES 5,000 |
Bank Savings vs Money Market Funds
| Bank Savings | Money Market Funds | |
|---|---|---|
| Interest rate | 3-5.5% p.a. | 8-11% p.a. |
| KES 100K earns/year | KES 3,000-5,500 | KES 8,000-11,000 |
| Withdrawal speed | Instant | 1-2 business days |
| Minimum | KES 0-5,000 | KES 100-5,000 |
| Risk | Deposit-protected | Very low (not zero) |
| Tax | 15% WHT | 15% WHT |