Best High-Interest Savings Accounts in Kenya 2025
Discover the best high-interest savings accounts in Kenya for 2025. Compare interest rates, features, and benefits from top banks to grow your money faster and smarter.
Do you have financial goals? If yes, do you have a plan on how you are going to achieve them? Worry not! In this guide, we are going to look at savings accounts and specifically high interest savings accounts. We believe that you know what savings are and you also understand their relevance in financial planning. Let’s now look at high interest savings accounts.
What Is a High-Interest Savings Account and Why Should You Open One?
High-interest savings accounts are those that promise higher returns on top of your savings. They are also known as high yield savings accounts. Compared to the traditional and ordinary savings accounts, high interest accounts grow savings at a higher rate. The most important feature in these accounts is the compound interest element, which makes savers earn interest on their deposits and previously earned interest.
Top Features to Consider in a High-Interest Savings Account
Apart from interest rates, there are other factors to consider when selecting your savings account. We have discussed some of the factors as below:
- Monthly Fees: These are charges by the bank for maintaing users accounts. These charges reduce the value of your savings by the value charged in percentage. However, not all banks charge monthly fees and it is good to save with such like banks to earn more from your savings.
- Online and Mobile Access: Online savings accounts are more convenient than traditional savings accounts. If you prefer online savings, look for features like mobile friendly interface for easy navigation and making transactions.
- Customer Support: If you are operating an online savings account, customer support is very important when it comes to addressing system challenges such as failures, errors, wrong transactions or general interface and system challenges.
- Minimum Balance Requirements: This is the amount set by the bank and users are required to deposit it into their banks before they start saving money. Look for this feature and make sure you afford or you are comfortable with the set minimum balance.
- Accessibility and Withdrawal Options: Withdrawal rules vary from bank to bank. Some banks may allow instant withdrawals while others have waiting periods of some days or even weeks for the withdrawn savings to be processed.
Top 10 High-Interest Savings Accounts in Kenya (2025): Full Review and Comparison
Now that we have identified the key features to look for in a savings account, let us move with speed and look at the top high interest savings accounts in Kenya in 2025. Please note that we made our judgements basing on the interest rates, account features, ease of access and best use cases for each account.
1. Umba Savings Account – Best Overall for High Returns
- Interest Rate: Up to 10% per annum
- Platform: App-based
- Best For: High-interest savings with no fees
In our findings, Umba tops the list of high interest savings accounts at an annual interest rate of 10%. The platform is designed mainly for mobile phone users, accessed through a mobile app. Apart from the user-friendly app, this platform does not charge monthly fees on savings. If you prefer online savings accounts with high interest, Umba is your best choice.
2. Equity Bank – Eazzy Savings Account – Most Beginner Friendly
- Interest Rate: Up to 7%
- Access: Mobile app, USSD, and branches
- Best For: New savers and mobile users
The Equity bank’s savings account is known as the Eazzy Savings Account. The account is flexible and can easily accessed through the mobile app, USSD code or through the equitel, Equity bank’s sim card. Equity Bank’s Eazzy Savings Account offers competitive interest rates to users. The minimum amount to start saving with Eazzy Savings Account is just ksh 50. The account is integrated with Equity’s mobile banking services to enable users easily save money, check their account balances and make withdrawals.
3. Absa Digital Savings Account – Best for Tech-Savvy Users
- Interest Rate: Up to 7%
- Access: Online and app
- Best for: People who prefer digital banking
Absa’s Digital Savings Account is a high also a high return savings platform with interest rates of up to 7%. The account charges zero monthly maintenance fees and can be fully accessed through the Absa mobile app.
4. Absa Timiza Savings Account – Ideal for Micro-Savers
- Interest Rate: Up to 7%
- Access: Timiza app
- Best for: Low-income earners and side hustlers
This account targets passionate savers, who can make small savings but consistently. Consistent savers receive bonus and even improved saving rates. All services are available via the Timiza app, which also provides short-term emergency loans to eligible borrowers.
5. Family Bank – Tujenge Savings Account – Perfect for Goal-Based Saving
- Interest Rate: Up to 6.5%
- Best For: Personal projects and planned savings
Tujenge Savings Account is a development focused savings plan. This savings account targets developmental goals such as school fees, a wedding or business projects. Is a good savings accounts that supports various financial goals. The also offers competitive interest rates and it encourages regular deposits.
6. NCBA Bank – Gold Savings Account – Best for Long-Term Savers
- Interest Rate: Up to 6%
- Access: Online, app, and branches
- Best For: Medium to high savers
NCBA’s Gold Savings Account is suitable for people saving larger amounts of money over longer periods. The account encourages consistent savings with rewards to disciplined savers. Since it is a long-term savings account, it has limited withdrawal options.
7. Cooperative Bank – Hekima Savings Account – Best for Disciplined Savers
- Interest Rate: Up to 6%
- Access: Branches and mobile banking
- Best For: Structured saving goals
Just like the other savings accounts we have looked at, Hekima also encourages consistent savings and it supports various savings goals. The account has no monthly fees.
8. KCB Bank – Simba Savings Account – Best for Traditional Banking
- Interest Rate: Up to 5.5%
- Best For: People who prefer both in-branch and digital access
This account is suitable for both digital and traditional users who can access the services either online or by visiting their branches. Simba Savings Account charges small monthly fees on savings with average saving interest rates of about 6%.
9. Hazina Sacco – Ordinary Savings Account – Best SACCO Option
- Interest Rate: 4%–6% (dividends)
- Best For: Long-term savers and SACCO members
If you prefer saving money with SACCOs, Hazina SACCO is a good choice for you. It encourages consistent and long-term savings with rewards to savers such as dividends, loans, interests of 4-6% and membership services. While interest is earned as a dividend annually, it’s ideal for those committed to long-term saving.
How to Open a High-Interest Savings Account in Kenya?
So far, we have looked at the top high interest savings accounts in Kenya. Below process can guide you on how to join any of the platforms and open your savings account.
- Choose your preferred bank or digital platform based on your goals.
- Gather your documents, such as your national ID, KRA PIN, and proof of residence.
- Visit a branch or use an app to register. For most digital banks, the entire process takes under 10 minutes.
- Make your first deposit to activate your account. Some banks require as little as Ksh 100, while others have no minimum.
Once your account is active, start saving regularly to achieve your savings goals.
Why It’s Important to Regularly Review Your Savings Account
The benefits of a savings account depend on the interest rates and absence of charges such as monthly fees among others. Is good to note that interest rates on savings accounts keep on changing and is advisable to review your account regularly.
When interest rates drop, your savings will reduce and vice versa. Reviewing the account can also enable you notice when hidden charges have been introduced on your account. Is good to also look at the overall performance of your bank or platform in relation to other platforms to notice if it is growing or declining.
When you notice that other savings platforms are doing better or your bank has dropped in the overall performance, you can switch to more profitable platforms to ensure the success of your savings goals. It is recommended to review your account at least once every month.
Conclusion: Choose the Best Savings Account and Start Growing Your Money
As we wind our discussion, savings play a great role in anyone’s financial growth. While saving money is a good practice, high interest savings accounts accelerate the growth of your savings. Remember that inflation is always rising and when you leave your money in low interest savings accounts, you lose the value of your savings to inflation.
Having a high interest savings account is the only solution to rising inflation levels. Now, review your account to see how it is growing, join a high interest savings account for faster growth of your savings.