How METRIKA calculates this
For each option METRIKA applies the rate you enter, minus withholding tax: 15% for bank interest, money market funds and Treasury bills, and the SACCO rate you set (5% by default).
- Bank, money market fund and T-bills: the net rate compounds monthly, and your monthly saving is added at the end of each month. T-bills are treated as rolled over continuously at the same rate.
- SACCO: interest is paid once a year on your average monthly deposit balance, which is how most SACCOs calculate interest on deposits.
Today's money divides the final balance by (1 + inflation) to the power of the number of years. Fund fees are assumed to be already reflected in the yield you enter.
What to know in Kenya
In autumn 2026 the average bank savings rate (3.53% in September) sat well below inflation (7.3% in October), while the 91-day T-bill paid about 8.75% and leading money market funds were yielding roughly 8.5% to 11.4% before tax.
SACCO deposit interest and share dividends are declared once a year after the annual general meeting, so the rate changes year to year. SASRA regulates deposit-taking SACCOs: check that yours is licensed. Money market funds are regulated by the Capital Markets Authority, and T-bills are bought through the CBK DhowCSD platform.
Frequently asked questions
Is a money market fund better than a SACCO?
A money market fund is usually easier to withdraw from. A SACCO often pays a higher rate and lets you borrow against your deposits, but you usually can't take deposits out while you're a member.
Why does my bank savings account lose money?
After 15% withholding tax, a 3.5% savings rate earns about 3% a year. With inflation above 6%, that money buys less each year.
Are these returns guaranteed?
No. Money market yields change weekly, T-bill rates change at each auction, and SACCOs declare rates once a year.
What about SACCO share capital dividends?
Share capital earns a dividend, often higher than deposit interest, but it is not refundable in most SACCOs. This tool models deposits only.
How do I buy Treasury bills in Kenya?
Open an account on the Central Bank of Kenya's DhowCSD platform, online or through the app, then bid at the weekly auction. T-bills are offered in 91-day, 182-day and 364-day terms.
What is the current Treasury bill rate in Kenya?
The 91-day T-bill paid about 8.75% in early November 2026. Rates change at each weekly auction, so check the latest CBK results.
Can foreigners or Kenyans abroad invest in money market funds?
Many Kenyan money market funds accept foreign residents and Kenyans in the diaspora. They usually need a passport or ID, a KRA PIN and a bank account. Check each fund's requirements.
Can foreigners join a SACCO in Kenya?
It depends on the SACCO. Many are limited to people in one employer, profession or community, while others open membership to anyone living in Kenya. Read the SACCO's membership rules.
Which is the safest place to keep money in Kenya?
Treasury bills are backed by the government. Bank deposits have limited insurance from the Kenya Deposit Insurance Corporation. Money market funds and SACCOs are regulated by the CMA and SASRA respectively but aren't guaranteed.
Sources
- Central Bank of Kenya — Interest rate statistics (lending, savings and T-bill rates)
- Central Bank of Kenya — Treasury bills
- Capital Markets Authority — regulator of money market funds
- Business Today — Top money market fund yields in Kenya (15 March 2026)
- SASRA — SACCO Societies Regulatory Authority
- Kenya Revenue Authority — Withholding tax rates
Links are for reference only. METRIKA is independent and not affiliated with or endorsed by these organisations.
Rates checked 6 Nov 2026. METRIKA gives estimates, not financial or tax advice.