Banks give best returns on deposits in 5 years

DNCBK2712C

The Central Bank of Kenya in Nairobi. FILE PHOTO | NMG

Wealthy individuals and cash-rich institutions are making the best returns on bank deposits in more than five years, as Kenyan banks compete for funds.

The rising competition for funds between banks, the government and collective investment schemes have pushed the rate that lenders are paying for deposits.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.