Kenya | Deposit interest rate (%)

Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. Development relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy. Limitations and exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm. Statistical concept and methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.
Publisher
The World Bank
Origin
Republic of Kenya
Records
63
Source
Kenya | Deposit interest rate (%)
1960
1961
1962
1963
1964
1965
1966
1967 3.5
1968 3.5
1969 3.5
1970 3.5
1971 3.5
1972 3.5
1973 3.5
1974 4.315
1975 5.13
1976 5.13
1977 5.13
1978 5.13
1979 5.13
1980 5.75333333
1981 8.84666667
1982 12.1975
1983 13.27
1984 11.77083333
1985 11.25
1986 11.25
1987 10.3125
1988 10.33333333
1989 12
1990 13.66666667
1991 14.5
1992
1993
1994 15.72
1995 13.5975
1996 17.59083333
1997 16.72166667
1998 18.40083333
1999 9.55083333
2000 8.10083333
2001 6.63916667
2002 5.48666667
2003 4.13333333
2004 2.43333333
2005 5.0825
2006 5.13870295
2007 5.16225105
2008 5.30213063
2009 5.96701675
2010 4.55736667
2011 5.6285634
2012 11.57214466
2013 8.64176967
2014 8.37337961
2015 9.18894521
2016 8.68862557
2017 7.67412326
2018 8.29270022
2019 7.50607031
2020 6.96870329
2021 6.68697379
2022 7.1451755

Kenya | Deposit interest rate (%)

Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. Development relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy. Limitations and exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm. Statistical concept and methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.
Publisher
The World Bank
Origin
Republic of Kenya
Records
63
Source