5 Best Savings Apps in Kenya in 2026: Interest Rates Compared

The best savings app in Kenya right now depends on how much you're starting with. KCB's M-Pesa Target and Fixed Savings pay just over 8.5% a year, Absa's Timiza Goal Savings pays a flat 6% a year, and M-Shwari's Lock Savings tops out at 6% once your balance passes KES 50,001 — all taken from each provider's own page as of October 2026. Safaricom's Ziidi, built into M-Pesa, skips a fixed number altogether: it shows you the real daily rate in the app, after its 2% management fee. This guide compares all five, what each one actually charges, and where the taxman takes his cut.

If you're choosing between these and a SACCO, it helps to also check what your own SACCO's dividends would pay on the same amount using our SACCO dividends calculator — some still beat every app on this list.

Quick comparison

*KCB marks its advertised rate with an asterisk and doesn't publish the conditions behind it, so confirm the exact figure in the KCB app before committing.

The 5 savings apps worth your time in 2026

KCB M-Pesa Target and Fixed Savings

This is the highest headline rate on this list, and it comes straight from a bank rather than a fintech wrapper. KCB runs two versions through the M-Pesa menu: Target Savings, where you set a goal above KES 1,000 and top up from as little as KES 50, and Fixed Savings, opened with a minimum of KES 500.

Both advertise "over 8.5% p.a." and both lock your money for a period you choose, between 1 and 12 months. The catch: pull out before maturity on the Fixed account and you forfeit all the interest you've earned, not just the extra. Target Savings is more forgiving since it's built around topping up toward a goal rather than a hard lock.

Best for: anyone who can genuinely leave the money untouched for a few months and wants the highest number on paper.

M-Shwari Lock Savings

M-Shwari's Lock Savings account pays interest in tiers: 3% a year on KES 1–20,000, 5% on KES 20,001–50,000, and 6% above KES 50,001. You pick a maturity date between one and six months when you open the account, interest accrues daily and pays out at maturity, and moving money in is free (balance and mini-statement checks cost KES 1 each). Pull the money out before maturity and you drop to the lower, regular M-Shwari savings rate instead.

It's the most "mobile money native" of the bank-style options — no branch visit, no paperwork, just your M-Shwari menu. The tiers reward bigger balances, so it suits someone building up a lump sum rather than someone who needs daily access.

Best for: M-Shwari users who already have a loan history there and want a low-friction way to ring-fence a specific amount for one to six months.

Absa Timiza Goal Savings

Absa's Timiza wallet (dial *848# or use the app) runs a Goal Savings account that pays 6% a year, with interest credited quarterly straight into your wallet. You don't need an existing Absa bank account to use Timiza — it's a standalone mobile wallet with savings, loans and bill payments built in.

Six percent a year, paid every three months, is a steady middle-ground rate: lower than KCB's headline figure but without a hard lock-in, and it comes from a licensed bank rather than an unregulated app.

Best for: people who want a bank-backed savings feature without opening a full bank account, and who'd rather get paid quarterly than wait for one long maturity date.

Safaricom Ziidi MMF

Ziidi is Safaricom's own money market fund, run through M-Pesa (dial *334# or open the Ziidi mini-app). Unlike the three accounts above, it doesn't pay a fixed rate — your money sits in government securities and interest-earning accounts, so the rate moves daily and shows up in the app as a net figure, already after Ziidi's 2% annual management fee.

You can start with KES 100 and withdraw as little as KES 10, straight back to your M-Pesa balance, with no transaction fees either way. There's no cap on how much you can hold, though the usual M-Pesa daily limits (KES 500,000 a day, KES 250,000 per transaction) still apply. Your money starts earning about 24 hours after it lands in the fund. One limitation worth knowing: as currently approved by the Capital Markets Authority, Ziidi is for individuals only — chamas and businesses can't open an account yet.

Because it's a money market fund and not a bank savings account, Ziidi's income is subject to Kenya's 15% withholding tax, deducted before you see the return.

Best for: anyone who wants MMF-style returns without downloading a separate fund manager's app, and who's comfortable with a rate that moves instead of a fixed number.

Chumz

Chumz is a goal-savings app built by Moneto Ventures, with your money pooled and invested by Nabo Capital, a fund manager licensed by the Capital Markets Authority. It has the lowest entry point on this list — you can start with KES 5 — and it lets you save alone or as a group, which makes it closer to a digital chama than a personal savings account.

Chumz doesn't publish a fixed or current advertised rate the way KCB, M-Shwari and Timiza do, so check the actual yield shown in your app before you judge it against the others. Because your money ends up in a money market fund, the same 15% withholding tax on MMF income applies.

Best for: very small, frequent savers and informal groups who want the chama habit with less admin than running one on paper.

What about other money market fund apps?

Ziidi and Chumz aren't the only route into a money market fund from your phone — Zimele, Nabo Capital's own app, CIC, Cytonn and several others all take mobile deposits too, and some have posted stronger returns than the bank-linked savings accounts above. Rather than repeat fund-by-fund numbers here (they move every quarter), use our comparison of Kenya's top money market funds for current returns by provider, and run your own numbers through our money market fund calculator to see what a given amount actually earns after the management fee and withholding tax.

What to watch out for

• "Over 8.5%" isn't a guarantee. KCB's own pages mark that figure with an asterisk and don't explain the conditions. Confirm the exact rate for your balance and term in the app before you lock money away for months.
• Early withdrawal can cost you everything, not just the extra. KCB's Fixed Savings forfeits all accrued interest if you break the lock early. M-Shwari is gentler — you just drop to the lower regular rate.
• A floating rate can fall as well as rise. Ziidi's daily rate tracks government securities yields. When the Central Bank cuts its base rate, MMF-linked returns tend to follow within a few months.
• Withholding tax bites MMF income, not bank savings tiers the same way. Ziidi and Chumz both deduct 15% withholding tax before you see the return. Keep that in mind when comparing a "6% MMF yield" against a "6% bank savings rate" — they're not always taxed the same way.
• Don't confuse any of these with the apps and "investment groups" promising 20%+ guaranteed monthly returns on WhatsApp or Telegram. None of the five above promise a fixed high return; if something claims it can, that's the red flag, not a selling point.

Say you're a primary school teacher in Eldoret saving KES 5,000 a month after your PAYE, NSSF, SHIF and housing levy deductions come off your pay. Split that between an M-Shwari Lock Savings account for a six-month emergency buffer and a Ziidi account you top up for everyday spare cash, and you get a locked rate you can plan around plus one you can dip into without breaking anything.

Which savings app should you pick?

• Want the highest rate and can lock your money for months: KCB M-Pesa Fixed or Target Savings.
• Already on M-Shwari and want a simple, tiered lock account: M-Shwari Lock Savings.
• Want a bank-backed option without a full bank account: Absa Timiza Goal Savings.
• Want MMF-style returns with instant access back to M-Pesa: Safaricom Ziidi.
• Saving tiny, frequent amounts alone or with a group: Chumz.

Frequently asked questions

Which savings app in Kenya pays the highest interest right now?

KCB's M-Pesa Target and Fixed Savings advertise the highest headline rate at over 8.5% a year, as of October 2026. It's a locked product, though, so you lose some or all of the interest if you withdraw before your chosen term ends.

How much tax do I pay on savings app interest in Kenya?

Money market fund apps like Ziidi and Chumz deduct a 15% withholding tax from the interest before it's credited to you, confirmed directly on Safaricom's own Ziidi FAQ page. Bank-style savings accounts such as M-Shwari, KCB M-Pesa and Timiza are also subject to interest tax; check the current rate with your provider if you're filing a return.

Can I withdraw my money anytime from Ziidi or Chumz?

Yes. Ziidi lets you withdraw to M-Pesa any time, with a minimum withdrawal of KES 10 and no transaction fee. Chumz works the same way through its own app. Neither locks your money the way KCB's Fixed Savings or M-Shwari's Lock Savings does.

Which app is best for beginners with very little money?

Chumz has the lowest minimum on this list at KES 5, which makes it the easiest to start with no real commitment. Ziidi is close behind at a KES 100 minimum investment and gives you a clearer, more established track record since it's run directly by Safaricom.

Is Ziidi or Chumz safe, or could I lose my money?

Both invest through fund managers licensed by Kenya's Capital Markets Authority, and both put your money into money market instruments rather than speculative assets, so the risk profile is far lower than a "double your money" scheme. Returns still move with the market, so the figure you see today isn't locked in, and neither is protected the way a bank deposit is.

What happens if I withdraw from KCB Fixed Savings or M-Shwari Lock Savings early?

KCB's Fixed Savings forfeits all the interest you've earned if you redeem before maturity. M-Shwari is less harsh: an early withdrawal from Lock Savings just drops your interest to the lower, regular M-Shwari savings rate instead of losing it outright.