Stanbic Bank Kenya has taken a bold step to make homeownership more affordable by launching a limited-time mortgage offer at a fixed interest rate of 8.99% per annum — currently the lowest mortgage rate in Kenya.
The offer, available from November 15, 2025 to February 15, 2026, aims to ease the financial burden on aspiring homeowners, many of whom struggle with high lending rates and restrictive mortgage requirements.
Kenya’s mortgage sector remains significantly underdeveloped, with only 26,000 active mortgage accounts, according to the Central Bank of Kenya’s 2023 Bank Supervision Report. With average interest rates hovering around 14.3%, most middle-income earners find homeownership out of reach.
Stanbic’s new product targets this gap, offering financing for homes valued up to KES 10.5 million, with repayment periods extending to 20 years.
Speaking during the launch, Mwaura Mwangi, Head of Products at Stanbic Bank Kenya, emphasized the bank’s commitment to empowering Kenyans to achieve long-term financial stability.
“We believe homeownership is a key milestone tied to financial security and personal achievement for every Kenyan professional. Our 8.99% p.a. home loan is a decisive, market-leading offer that makes the dream of owning a home attainable,” he said. “This product delivers both emotional security and the practical benefit of affordable financing to the growing middle class.”
The initiative aligns with national efforts to expand access to dignified housing, with Stanbic projecting that over 1,000 aspiring homeowners will benefit from the special-rate mortgage.