A KCB (Kenya Commercial Bank) Fixed Deposit account allows you to lock away a specific amount of money for a predetermined period at a guaranteed interest rate. This calculator helps you estimate the return on your investment by accounting for the gross interest and the mandatory withholding tax applied in Kenya.
Withholding Tax: In Kenya, a 15% tax is deducted from the interest earned before it is paid out to you.
Tenure: KCB offers flexible periods, typically starting from 1 month to 12 months or even longer for large amounts.
Example Calculation:
If you invest KES 100,000 for 12 months at an annual rate of 9%:
Gross Interest: KES 100,000 × 0.09 = KES 9,000
Withholding Tax (15%): 0.15 × KES 9,000 = KES 1,350
Net Interest: KES 9,000 – KES 1,350 = KES 7,650
Maturity Value: KES 100,000 + KES 7,650 = KES 107,650
KCB Fixed Deposit Requirements
To open a fixed deposit account with KCB, you generally need a minimum deposit amount (usually KES 50,000 for standard accounts), a valid ID/Passport, and an existing KCB transactional account. Rates are often negotiable for amounts exceeding KES 1,000,000.
function calculateKCBInvestment() {
var principal = parseFloat(document.getElementById("kcb_principal").value);
var rate = parseFloat(document.getElementById("kcb_rate").value);
var tenure = parseFloat(document.getElementById("kcb_tenure").value);
var tenureType = document.getElementById("kcb_tenure_type").value;
if (isNaN(principal) || isNaN(rate) || isNaN(tenure) || principal <= 0 || rate <= 0 || tenure <= 0) {
alert("Please enter valid positive numbers for all fields.");
return;
}
var timeInYears = 0;
if (tenureType === "months") {
timeInYears = tenure / 12;
} else {
timeInYears = tenure / 365;
}
var grossInterest = principal * (rate / 100) * timeInYears;
var withholdingTax = grossInterest * 0.15;
var netInterest = grossInterest – withholdingTax;
var totalMaturity = principal + netInterest;
document.getElementById("res_gross").innerText = "KES " + grossInterest.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("res_tax").innerText = "KES " + withholdingTax.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("res_net_interest").innerText = "KES " + netInterest.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("res_total").innerText = "KES " + totalMaturity.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById("kcb_results").style.display = "block";
}