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Central Bank of Kenya

Treasury Bill, 91 days

Treasury bill · Regulated by the CBK

What is this?

You lend money to the Kenyan government for about three months. You pay less than the full amount now and are paid the full amount at the end. The gap is your interest.

If you lend KES 50,000

It pays you a year
KES 4,385
Tax takes
KES 658
You keep, a year
KES 3,727
Over the whole term

The interest pays you KES 932 in total, and your KES 50,000 comes back at the end.

  • · Based on lending KES 50,000, the smallest amount accepted, for 3 months.
  • · 15% tax is taken off the interest before it reaches you.
  • · Nothing is paid to you during the term. You pay less than the full amount at the start and are paid the full amount at the end.
  • · Your money comes back in full at the end of the term.
  • · Worked out from the issuer's own published terms.

The details that matter for this kind of plan

Tax on the interest15% withholding tax
Who you are lending toThe Republic of Kenya, through the Central Bank
How to buy itBought at the weekly auction through CBK's DhowCSD portal, or through a bank.

What does it cost you?

Taken off each payment you makeNothing
Admin chargeNothing
Charge for taking money outNothing

What if you stop paying?

There is nothing to keep paying. You lend once and wait.

What if you need the money early?

You cannot ask for it back early. You can sell it to somebody else, and the price you get depends on the market that day.

Who this suits

It could work for you if

You have a lump sum you will need again soon and you want it safe and earning.

Think twice if

You have less than KES 50,000, or you might need the money before the three months are up.

How openly does this company explain its charges?

ATells you what it costs9 of 9 answered
  • What do they charge you every year?
    This kind of charge does not exist on this product.
  • What is taken off the money you pay in?
    Nothing. They state there is no charge here.
  • What does it cost to get out early?
    There is nothing to cash out, so there is no exit charge.
  • What is the smallest amount you can start with?
    KES 50,000.
  • How long is your money tied up?
    Not at all. You can take it out whenever you want.
  • Is the advertised return before or after their charges?
    Before charges. Their fees still come off this.
  • Do they warn you the return is not guaranteed?
    This kind of product does not advertise a return.
  • Do they tell you what you get back if you stop early?
    You get whatever your money is worth on the day. There is no schedule.
  • Do they list what is not covered?
    This is not insurance, so there is nothing to exclude.
  • Are all their charges published?
    Yes, every charge they mention has a figure against it.
  • Do they say who regulates them?
    Yes — the CBK. That is who you complain to.

This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.

Things to know before you sign

  • · The smallest bid is KES 50,000 of face value, and bids go up in multiples of KES 50,000.
  • · You need a CSD account with the Central Bank. Opening one is free and is done through the DhowCSD app or portal.

Talk to them

Compared with the others

There are 2 other plans of this kind on the board. See all 3 side by side — what each one leaves you with, and which of them will not say.

How current is this rate?

The 8.77% on this page is the rate Central Bank of Kenya last declared, as at 2026-08-22 — current.

the average rate bidders accepted at the last weekly auction.

Where we got this