KCB Bank Kenya has announced a reduction in its base lending rate from 14.6 percent to 13.85 percent per annum, becoming the first lender to adjust its rates following the Central Bank of Kenya’s recent 75 basis point cut to the benchmark Central Bank Rate (CBR).
In a statement, KCB said the new rate will take effect from April 11, 2025 for new loans, while existing loans will be adjusted beginning May 11, 2025.
The bank said the revised base lending rate is part of efforts to align with CBK’s monetary policy direction and offer more affordable credit.
“This reduction aims to provide more affordable credit and stimulate economic activity across the country,” the bank stated.
The final lending rate for borrowers will be determined based on individual credit profiles, under KCB’s Risk-Based Credit Pricing Model, and will only apply to Kenya Shilling-denominated facilities.
Customers are encouraged to contact their relationship managers or visit any KCB branch for further details.
