The deposit interest rate in Kenya increased by two percentage points (+27.97 percent) in 2023. In total, the deposit interest rate amounted to 9.17 percent in 2023. A deposit interest rate is the percentage of profit someone earns on their money in an interest-bearing account with a financial institution. Essentially, it is the money that banks, and credit unions pay someone for keeping their money in their institutions.
The source adds the following information: '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'.
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World Bank. (June 28, 2024). Deposit interest rates in Kenya from 2013 to 2023 [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1246981/deposit-interest-rates-in-kenya/
World Bank. "Deposit interest rates in Kenya from 2013 to 2023." Chart. June 28, 2024. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1246981/deposit-interest-rates-in-kenya/
World Bank. (2024). Deposit interest rates in Kenya from 2013 to 2023. Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1246981/deposit-interest-rates-in-kenya/
World Bank. "Deposit Interest Rates in Kenya from 2013 to 2023." Statista, Statista Inc., 28 Jun 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1246981/deposit-interest-rates-in-kenya/
World Bank, Deposit interest rates in Kenya from 2013 to 2023 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1246981/deposit-interest-rates-in-kenya/ (last visited September 20, 2024)
Deposit interest rates in Kenya from 2013 to 2023 [Graph], World Bank, June 28, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1246981/deposit-interest-rates-in-kenya/