Updated 16 October 2026
This investment returns calculator for Kenya compares what your money earns in every money market fund, Treasury bills, Treasury and infrastructure bonds, M-Akiba, bank fixed deposits, SACCOs, M-Shwari lock savings, NSE shares and REITs, after the right withholding tax for each.
Rates are what was last published, gross of tax. Money market funds are compounded monthly; bills, bonds, deposits and SACCO returns are worked out as simple interest. Your actual return will differ.
How to use the calculator
Pick an investment, enter your amount, the number of months and any monthly top-up. The rate and tax fields fill in automatically, but you can change both. Where we could not confirm a current rate, such as M-Shwari Lock Savings, M-Akiba, NSE dividend yields and REITs, the rate is left blank for you to fill in. The comparison table ranks every option with a known rate by net return for the same amount and period.
Withholding tax by investment type
| Investment | Withholding tax |
|---|---|
| Money market funds, fixed deposits, T-bills, bank interest | 15% |
| Treasury bonds under 10 years | 15% |
| Treasury bonds of 10 years and above | 10% |
| Infrastructure bonds and M-Akiba | 0% (exempt) |
| SACCO dividends | 5% |
| NSE share dividends (residents) | 5% |
Money market fund rates in Kenya (16 October 2026)
Effective annual yields as published, before tax. The 27 KES funds below cover every fund we found a rate for. Two dollar funds are also covered: Old Mutual Dollar MMF at 5.18% (15 October 2026) and Jubilee MMF USD at 4.91%.
| Fund | Gross yield | Net after 15% tax | Minimum | Management fee |
|---|---|---|---|---|
| Cytonn Money Market Fund | 11.01% | 9.36% | KES 1,000 | 2.00% |
| Faulu Money Market Fund | 10.80% | 9.18% | KES 1,000 | 2.00% |
| Lofty Corban Money Market Fund | 10.55% | 8.97% | KES 1,000 | 2.00% |
| Madison Money Market Fund | 10.40% | 8.84% | KES 5,000 | 2.00% |
| Nabo Africa Money Market Fund | 10.39% | 8.83% | KES 100,000 | 2.25% |
| Orient Kasha Money Market Fund | 10.35% | 8.80% | KES 1,000 | 2.00% |
| Old Mutual Money Market Fund | 10.31% | 8.76% | KES 1,000 | 2.00% |
| Kuza Money Market Fund | 10.31% | 8.76% | KES 1,000 | 2.00% |
| Arvocap Money Market Fund | 10.26% | 8.72% | KES 3,000 | 2.00% |
| Jubilee Money Market Fund | 10.19% | 8.66% | KES 5,000 | 2.00% |
| Etica Money Market Fund | 10.02% | 8.52% | KES 100 | 2.00% |
| GenAfrica Money Market Fund | 9.98% | 8.48% | KES 500,000 | 2.00% |
| Britam Money Market Fund | 9.77% | 8.30% | KES 1,000 | 2.00% |
| Sanlam Allianz Money Market Fund | 9.53% | 8.10% | KES 3,000 | 2.00% |
| KCB Money Market Fund | 9.35% | 7.95% | KES 1,000 | 2.00% |
| Dry Associates Money Market Fund | 9.17% | 7.79% | KES 1,000,000 | 2.26% |
| Hela Imara Money Market Fund | 8.88% | 7.55% | KES 500 | 2.00% |
| CIC Money Market Fund | 8.41% | 7.15% | KES 5,000 | 2.00% |
| CPF Money Market Fund | 8.37% | 7.11% | KES 1,000 | 3.00% |
| African Alliance Money Market Fund | 8.23% | 7.00% | KES 100,000 | 2.00% |
| Apollo Money Market Fund | 8.16% | 6.94% | KES 1,000 | 2.00% |
| NCBA Fixed Income Fund | 8.14% | 6.92% | KES 5,000 | 2.00% |
| Co-op Money Market Fund | 8.04% | 6.83% | KES 500 | 0.90% |
| ICEA Lion Money Market Fund | 7.86% | 6.68% | KES 500 | 2.00% |
| Ziidi Money Market Fund | 7.13% | 6.06% | KES 100 | 2.00% |
| Stanbic Money Market Fund | 5.39% | 4.58% | KES 1,000 | 2.00% |
| Equity Money Market Fund | 4.23% | 3.60% | KES 1,000 | 2.00% |
Treasury bills and bonds
At the CBK auction of 15 October 2026, the 91-day bill averaged 8.75%, the 182-day 8.86% and the 364-day 9.0383%. The reopened 30-year FXD1/2026/030 bond carries a 12.5% coupon and cleared at about 14.18%. The August 2026 infrastructure bond reopening had coupons of 11.750%, 12.667% and 12.737%. The Central Bank Rate is 8.75%.
Fixed deposits
Published 12-month rates in September 2026 ranged from up to 4.00% at Absa to 8.64% at NCBA among the big banks, and up to 10% at smaller banks such as Kingdom Bank and Victoria Commercial Bank.
SACCOs
SACCOs paid the highest headline returns for 2025, with several declaring 20% on share capital and 11% to 13% on deposits. Your money is less liquid, though, and the rate is only known after the year ends.
Calculators for each fund
Money market funds:
- Cytonn Money Market Fund
- Faulu Money Market Fund
- Lofty Corban Money Market Fund
- Madison Money Market Fund
- Nabo Africa Money Market Fund
- Orient Kasha Money Market Fund
- Old Mutual Money Market Fund
- Kuza Money Market Fund
- Arvocap Money Market Fund
- Jubilee Money Market Fund
- Etica Money Market Fund
- GenAfrica Money Market Fund
- Britam Money Market Fund
- Sanlam Allianz Money Market Fund
- KCB Money Market Fund
- Dry Associates Money Market Fund
- Hela Imara Money Market Fund
- CIC Money Market Fund
- CPF Money Market Fund
- African Alliance Money Market Fund
- Apollo Money Market Fund
- NCBA Fixed Income Fund
- Co-op Money Market Fund
- ICEA Lion Money Market Fund
- Ziidi Money Market Fund
- Stanbic Money Market Fund
- Equity Money Market Fund
- Old Mutual Dollar Money Market Fund
- Jubilee Money Market Fund USD
Government securities:
- 91-Day T-Bill Calculator
- 182-Day T-Bill Calculator
- 364-Day T-Bill Calculator
- Treasury Bond Calculator
- Infrastructure Bond Calculator
- M-Akiba Bond Calculator
Bank fixed deposits:
- NCBA Fixed Deposit Calculator
- KCB Fixed Deposit Calculator
- Stanbic Fixed Deposit Calculator
- DTB Fixed Deposit Calculator
- I&M Bank Fixed Deposit Calculator
- Co-operative Bank Fixed Deposit Calculator
- Equity Bank Fixed Deposit Calculator
- Absa Fixed Deposit Calculator
- Kingdom Bank Fixed Deposit Calculator
- Victoria Commercial Bank Fixed Deposit Calculator
- Consolidated Bank Fixed Deposit Calculator
SACCOs:
- Stima Sacco Dividend Calculator
- Kenya National Police DT Sacco Dividend Calculator
- Mwalimu National Sacco Dividend Calculator
- Harambee Sacco Dividend Calculator
- Tower Sacco Dividend Calculator
- Port DT Sacco Dividend Calculator
- Tembo Sacco Dividend Calculator
- Yetu Sacco Dividend Calculator
- Unison Sacco Dividend Calculator
- Bandari Sacco Dividend Calculator
- Ollin Sacco Dividend Calculator
- IG Sacco Dividend Calculator
- Cosmopolitan Sacco Dividend Calculator
- Gusii Mwalimu Sacco Dividend Calculator
- Nation Sacco Dividend Calculator
- Magadi Sacco Dividend Calculator
- Maisha Bora Sacco Dividend Calculator
Related guides
Ziidi Shariah money market fund on M-Pesa, how to apply for M-Shwari, M-Shwari charges and how to get a KRA PIN, which you need for any investment account.
Frequently asked questions
Which investment pays the most in Kenya right now?
Among options with published rates, SACCO dividends and long-term bonds were highest, followed by the top money market funds at about 10% to 11% gross. Each carries different risk and liquidity.
Which money market fund has the highest rate?
Cytonn Money Market Fund at 11.01% as of 16 October 2026.
What tax do I pay on money market fund interest?
15% withholding tax, deducted at source.
Are infrastructure bonds tax-free?
Yes, interest on infrastructure bonds is exempt from withholding tax.
