List of Banks With Highest & Lowest Loan Rates

The Central Bank of Kenya (CBK) has released an updated list of interest rates for loans offered by banks across the country, highlighting significant differences in loan pricing.

According to the report, Premier Bank stands out as the most affordable lender, offering the lowest interest rate of 9% on personal and overall loans with repayment periods of one to five years.

Close contenders include Access Bank at 11.37%, Diamond Trust Bank (DTB) at 12.39%, Consolidated Bank at 13.39%, and Kingdom Bank at 14.20%.

Guardian Bank follows with a rate of 14.67%, while Ecobank Kenya offers loans at 14.72%.

On the other end of the spectrum, Middle East Bank tops the list of banks with the highest loan interest rates, charging 20.96%.

Credit Bank follows closely at 20.32%, with HFC Limited offering loans at 20.12%. SBM Bank Kenya Limited and Absa Bank Kenya PLC charge 19.91% and 19.82%, respectively.

For borrowers looking to secure loans with lower interest rates over shorter durations of one to five years, Premier Bank, Ecobank, and Access Bank offer some of the best options.

However, the landscape changes for loans priced above 16%, with Prime Bank, Equity Bank, and KCB Bank featuring prominently.

CBK’s report provides vital information for consumers looking to secure loans, with wide-ranging interest rates that may influence borrowing decisions across the country.

Understanding these rates is critical as it impacts loan affordability, particularly in an economy where credit access plays a key role in driving growth and development.