YouTube KE · KES
METRIKA/Compare/metrika.co.ke/comparisons/sacco-bank-mmf/

Compare your choices

SACCO vs bank vs money market fund

Put the same savings into a bank account, a money market fund, Treasury bills and a SACCO. See what each leaves you after tax and inflation, and how quickly you can get your money back.

Updated 26 Sep 2026Kenya · KESFree · no sign-up

Your numbers

Filled with example figures. Change them to yours.

KES
KES
years
% / yr
Kenyan banks' average savings rate was 3.53% in Sept 2026 (CBK).
% / yr
Median across licensed funds about 9.2%; top funds about 11% (Sept 2026).
% / yr
91-day T-bill: 8.78% (Sept 2026).
% / yr
Large SACCOs commonly pay about 8–13% on deposits. Use your SACCO's last declared rate.
%
SACCOs withhold 5% on dividends for residents. Check your statement for deposit interest.
% / yr
Kenya's latest reading was 6.6%.
Your resultMETRIKA
KES 920,104 in sacco deposits

After 5 years, SACCO deposits leaves you KES 158,026 more than a bank savings account.

+2.7%real return / yr
Bank savings
KES 762,078
Money market fund
KES 878,990
Treasury bills
KES 869,637
SACCO deposits
KES 920,104
Savings compared · Kenyametrika.co.ke · 26 Sep 2026

What does it mean?

You put in KES 700,000 in total. After tax, sacco deposits grows it to KES 920,104, worth KES 668,422 in today's money after 6.6% inflation.

bank savings earns less than inflation after tax, so the money buys less each year.

Returns are only part of the choice. SACCO deposits usually can't be withdrawn while you're a member, but they let you borrow, often up to three times your deposits. Money market funds pay out in a few days, and bank savings are instant. Keep your emergency fund where you can reach it.

Your balance, year by year

After withholding tax, before inflation

0250K500K750K1.00MY0Y1Y2Y3Y4Y5
Bank savingsMoney market fundTreasury billsSACCO deposits
OptionRateTaxNet / yrAfter 5 yrsToday's moneyAccess
Bank savings3.5%15%2.98%KES 762,078KES 553,622Anytime
Money market fund9.2%15%7.82%KES 878,990KES 638,554About 2–3 working days
Treasury bills8.78%15%7.46%KES 869,637KES 631,760At maturity (91 days)
SACCO deposits10%5%9.50%KES 920,104KES 668,422Usually only on leaving

Watch it explained. Short METRIKA videos on money, tax and big decisions in Kenya.

Watch on YouTubeSubscribe
Share your result

Show your number

Instagram, TikTok and Snapchat don't accept links from websites. Tap one to copy your result, then paste it into your post, story or bio.

Challenge a friend

Think they'll beat you?

Is your money in the right place? I ran SACCO vs bank vs MMF. Run yours and see who's earning more:

Compare results

You vs them

Enter their score to compare.

Save results to track changes over time.

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 September 2026 the average bank savings rate (3.53%) sat well below inflation (6.6%), while the 91-day T-bill paid 8.78% and the median money market fund about 9.2%. Top funds were paying about 11%.

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.

Sources

Rates checked 26 Sep 2026. METRIKA gives estimates, not financial or tax advice.