Kenya Money Market Fund Calculator 2026: What Your Savings Earn by Fund
See how much your savings could grow in a Kenyan money market fund like CIC, Cytonn or NCBA, using each fund's own published rate rather than a guess.
Rates checked 10 Oct 2026 against official sources (listed below).
Balance after 3 years
KES 279,727
You put in
KES 230,000
Earnings (after tax)
KES 49,727
Tax withheld (15%)
KES 8,775
| Year | Balance |
|---|---|
| Year 1 | KES 118,612 |
| Year 2 | KES 194,902 |
| Year 3 | KES 279,727 |
Interest compounds daily, as most money market funds do. Rates are each fund's own published current gross return (CIC: trailing 1-year return; Cytonn: August 2026 annualised return; NCBA: average daily yield) and move with Treasury bill yields, often weekly. The 15% withholding tax is deducted automatically and is final for resident individuals. Minimums and top-ups differ by fund - check the manager's site before investing.
About this calculator
Rates move most weeks, so treat any figure as a snapshot and check the fund's latest factsheet before you invest.
How it's worked out
Enter a starting amount, a monthly top-up and a number of years, then choose a fund (or type in any other rate you've checked yourself). The calculator grows your balance daily at that fund's yearly rate, the same way these funds work out interest daily and pay it into your account once a month.
The three rates loaded by default come from each fund's own factsheet, not a comparison site:
- CIC Money Market Fund: 12.47%, the fund's trailing one-year return in its July 2026 factsheet. Minimum investment KES 5,000, KES 1,000 top-ups, 2% annual management fee.
- Cytonn Money Market Fund (KES): 11.1%, the annualised return for August 2026 in Cytonn's August 2026 factsheet. Minimum investment KES 1,000, 2% annual management fee.
- NCBA (KES) Money Market Fund: 6.70%, the average daily yield reported in NCBA's May 2026 factsheet. A newer, smaller fund (launched February 2026), minimum investment KES 1,000.
For context, the Central Bank of Kenya's benchmark rate was 8.75% for most of 2026, and the 91-day Treasury bill was trading around 8.78% in July 2026, both according to the CIC factsheet above. Money market funds mostly hold Treasury bills, bank deposits and company debt, so their returns follow that benchmark closely. If you'd rather buy Treasury bills directly and lock in a rate for a fixed term, see our guide on buying Treasury bills in Kenya on DhowCSD. If you're considering a SACCO instead, see the top SACCOs in Kenya by dividend.
The figures above are each fund's published return before tax. The calculator then takes off Kenya's standard 15% withholding tax on interest, which has applied to interest from any source paid to resident individuals since the Tax Laws (Amendment) Act 2020, and is a final tax. KRA confirms this in its qualifying interest guidance and lists the 15% rate in its withholding tax schedule. You don't declare it again on your return.
Rates in this industry change often. Market data on total fund sizes and market share comes from the Capital Markets Authority's Q2 2026 Collective Investment Schemes report.
Frequently asked questions
What is a money market fund and how does it work?
A money market fund pools investors' cash and puts it into low-risk, short-term investments, mostly Treasury bills, bank deposits and company debt. Interest is worked out daily and usually added to your account at the end of each month, so your balance keeps growing on what you've already earned.
Which money market fund in Kenya has the best returns right now?
It changes every few weeks. In their own factsheets, CIC's fund returned 12.47% over the year to July 2026 and Cytonn's KES fund returned 11.1% a year in August 2026, both ahead of NCBA's newer fund at a 6.70% daily yield in May 2026. Check each manager's latest factsheet before choosing. Bigger, older funds like CIC tend to report steadier figures than brand-new ones.
How much do I need to start a money market fund in Kenya?
CIC's minimum is KES 5,000, with KES 1,000 top-ups. Cytonn and NCBA both start at KES 1,000. Most funds let you add money anytime through M-Pesa, a bank transfer or their app.
Is money market fund interest taxed in Kenya?
Yes. Since the Tax Laws (Amendment) Act 2020, interest from any source paid to a resident individual counts as "qualifying interest", and KRA charges a final 15% withholding tax on it, taken off before the fund pays you. It's the same rate as on bank and Treasury bill interest, and this calculator takes the 15% off automatically.
Can I lose money in a money market fund?
It's rare, but it can happen. These funds aren't bank deposits and aren't covered by the Kenya Deposit Insurance Corporation, so your return depends on what the fund's Treasury bills, deposits and company debt earn. CIC and Cytonn both call their funds "low risk" in their factsheets, which describes where the money is invested, not a guarantee.
How is a money market fund different from buying Treasury bills myself?
A money market fund gives you roughly the T-bill market's return with daily access to your cash, because the fund manager handles the buying and selling for you. Buying a 91-day Treasury bill yourself through CBK's DhowCSD platform locks your money up for the full term unless you sell it on to someone else first.