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Compare Kenya Treasury bond yields by YTM across 85+ government securities. Infrastructure bonds, fixed coupon bonds and floating rate bonds — ranked by yield, price discount and risk.
Updated daily · 85 bonds
Each bubble shows a bond plotted by its current market price against its yield to maturity — bubbles in the top-left quadrant offer the best value.
After-tax yield for every tracked bond, colour-coded by category (Government, Infrastructure, Corporate) — infrastructure bonds are tax-exempt.
Average yield to maturity by years-to-maturity bucket for each bond category, showing whether longer durations are rewarded with higher yields.
The curve is upward-sloping: long-term bonds yield ~3.5 percentage points more than short-term. You are being rewarded for locking in longer.
Every tracked bond ranked by the Serrari composite score — a combination of yield, current price, and issuer risk.
Positive bars indicate a bond trading below par (YTM exceeds coupon), offering potential capital gain at maturity; negative bars indicate premium-priced bonds.
| Bond Name ↕ | Coupon % ↕ | YTM % ↕ | Ranking ↓ | News |
|---|---|---|---|---|
Kenya Infra Bond IFB1/2021/18YrTop | 12.67% | 13.49% | 70.0 | |
Kenya Infra Bond IFB1/2019/16Yr | 11.75% | 12.61% | 69.1 | |
Kenya Govt Bond FXD1/2026/30Yr | 12.50% | 12.85% | 66.5 | |
Kenya Govt Bond FXD1/2019/20Yr | 12.87% | 13.21% | 66.4 | |
Kenya Govt Bond FXD1/2010/25Yr | 11.25% | 11.85% | 65.7 | |
Kenya Infra Bond IFB1/2018/20Yr | 11.95% | 12.37% | 65.7 | |
Kenya Infra Bond IFB1/2020/9Yr | 10.85% | 11.97% | 65.0 | |
Kenya Infra Bond IFB1/2021/21Yr | 12.74% | 12.85% | 63.6 | |
Kenya Govt Bond FXD1/2011/20Yr | 10.00% | 10.82% | 63.6 | |
Kenya Govt Bond SDB1/2011/30Yr | 12.00% | 12.21% | 63.5 | |
Kenya Infra Bond IFB1/2022/19Yr | 12.97% | 12.96% | 62.7 | |
Kenya Govt Bond FXD1/2018/20Yr | 13.20% | 13.08% | 61.9 | |
Kenya Govt Bond FXD1/2018/25Yr | 13.40% | 13.22% | 61.3 | |
Kenya Infra Bond IFB1/2021/16Yr | 12.26% | 12.24% | 61.3 | |
Kenya Infra Bond IFB1/2019/16Yr | 11.75% | 11.77% | 60.8 | |
Kenya Infra Bond IFB1/2020/11Yr | 10.90% | 11.08% | 60.6 | |
Kenya Infra Bond IFB1/2016/15Yr | 12.00% | 11.86% | 60.0 | |
Kenya Govt Bond FXD2/2018/20Yr | 13.20% | 12.91% | 59.9 | |
Kenya Infra Bond IFB1/2021/16Yr | 12.26% | 12.08% | 59.6 | |
Kenya Infra Bond IFB1/2017/12Yr | 12.50% | 11.94% | 59.0 | |
Kenya Infra Bond IFB1/2020/11Yr | 10.90% | 10.87% | 58.9 | |
Kenya Govt Bond FXD1/2021/25Yr | 13.92% | 13.44% | 58.6 | |
Kenya Govt Bond FXD3/2019/15Yr | 12.34% | 12.00% | 58.4 | |
Kenya Govt Bond FXD1/2022/10Yr | 13.49% | 12.75% | 57.8 | |
Kenya Govt Bond FXD1/2019/20Yr | 12.87% | 12.43% | 57.7 | |
Kenya Govt Bond FXD1/2018/25Yr | 13.40% | 12.86% | 57.0 | |
Kenya Govt Bond FXD2/2018/20Yr | 13.20% | 12.62% | 56.8 | |
Kenya Infra Bond IFB1/2018/15Yr | 12.50% | 11.83% | 56.2 | |
Kenya Govt Bond FXD1/2012/20Yr | 12.00% | 11.40% | 55.9 | |
Kenya Infra Bond IFB1/2015/12Yr | 11.00% | 10.03% | 55.8 | |
Kenya Govt Bond FXD1/2019/10Yr | 12.44% | 11.14% | 55.0 | |
Kenya Infra Bond IFB1/2022/18Yr | 13.74% | 12.84% | 53.7 | |
Kenya Infra Bond IFB1/2019/25Yr | 12.20% | 11.60% | 53.7 | |
Kenya Infra Bond IFB1/2022/19Yr | 12.97% | 12.20% | 53.6 | |
Kenya Corp Bond LINZI 003 IABS FXD MEDIUM TERM NOTE | 15.04% | 17.89% | 53.2 | |
Kenya Govt Bond FXD1/2012/15Yr | 11.00% | 9.12% | 52.5 | |
Kenya Govt Bond FXD2/2019/10Yr | 12.30% | 10.61% | 52.4 | |
Kenya Govt Bond FXD1/2018/20Yr | 13.20% | 12.19% | 52.0 | |
Kenya Govt Bond FXD1/2021/5Yr | 11.28% | 8.08% | 51.8 | |
Kenya Govt Bond FXD1/2016/20Yr | 14.00% | 12.73% | 51.6 | |
Kenya Govt Bond FXD2/2013/15Yr | 12.00% | 9.74% | 51.2 | |
Kenya Infra Bond IFB1/2015/12Yr | 11.00% | 8.29% | 51.2 | |
Kenya Govt Bond FXD3/2019/10Yr | 11.52% | 9.96% | 51.1 | |
Kenya Govt Bond FXD1/2016/10Yr | 15.04% | 7.93% | 51.0 | |
Kenya Infra Bond IFB1/2022/14Yr | 13.94% | 12.60% | 50.6 | |
Kenya Govt Bond FXD1/2020/15Yr | 12.76% | 11.56% | 50.5 | |
Kenya Govt Bond FXD1/2013/15Yr | 11.25% | 8.96% | 50.3 | |
Kenya Infra Bond IFB1/2021/18Yr | 12.67% | 11.64% | 50.2 | |
Kenya Govt Bond FXD2/2019/15Yr | 12.73% | 11.41% | 49.8 | |
Kenya Govt Bond FXD1/2021/20Yr | 13.44% | 12.26% | 49.4 | |
Kenya Infra Bond IFB1/2014/12Yr | 11.00% | 6.77% | 49.2 | |
Kenya Infra Bond IFB1/2023/17Yr | 14.40% | 12.97% | 49.2 | |
Kenya Infra Bond IFB1/2021/21Yr | 12.74% | 11.68% | 49.0 | |
Kenya Govt Bond FXD2/2018/10Yr | 12.50% | 9.95% | 48.9 | |
Kenya Govt Bond FXD1/2017/10Yr | 12.97% | 8.90% | 48.8 | |
Kenya Govt Bond FXD1/2019/15Yr | 12.86% | 11.36% | 48.6 | |
Kenya Govt Bond FXD4/2019/10Yr | 12.28% | 10.07% | 48.0 | |
Kenya Govt Bond FXD1/2018/10Yr | 12.69% | 9.69% | 48.0 | |
Kenya Govt Bond FXD2/2018/15Yr | 12.75% | 11.18% | 47.9 | |
Kenya Infra Bond IFB1/2022/6Yr | 13.22% | 10.02% | 47.0 | |
Kenya Govt Bond FXD1/2022/25Yr | 14.19% | 12.73% | 46.4 | |
Kenya Infra Bond IFB1/2023/17Yr | 14.40% | 12.72% | 46.0 | |
Kenya Govt Bond FXD1/2018/15Yr | 12.65% | 10.80% | 45.5 | |
Kenya Infra Bond IFB1/2023/6.5Yr | 17.93% | 13.31% | 45.0 | |
Kenya Infra Bond IFB1/2024/8.5Yr | 18.46% | 12.69% | 45.0 | |
Kenya Infra Bond IFB1/2024/8.5Yr | 18.46% | 12.43% | 45.0 | |
Kenya Infra Bond IFB1/2023/7Yr | 15.84% | 12.28% | 45.0 | |
Kenya Corp Bond KENYA MORTGAGE REFINANCE COMPANY MEDIUM TERM NOTE | 12.50% | 12.21% | 45.0 | |
Kenya Govt Bond FXD1/2024/10Yr | 16.00% | 12.19% | 45.0 | |
Kenya Govt Bond FXD1/2022/15Yr | 13.94% | 11.91% | 45.0 | |
Kenya Infra Bond IFB1/2022/18Yr | 13.74% | 11.87% | 45.0 | |
Kenya Corp Bond EAST AFRICAN BREWERIES DOMESTIC MEDIUM TERM NOTE FXD | 11.80% | 11.76% | 45.0 | |
Kenya Corp Bond EAST AFRICAN BREWERIES DOMESTIC MEDIUM TERM NOTE FXD | 11.80% | 11.75% | 45.0 | |
Kenya Govt Bond FXD1/2023/10Yr | 14.15% | 11.59% | 45.0 | |
Kenya Infra Bond IFB1/2023/7Yr | 15.84% | 11.46% | 45.0 | |
Kenya Infra Bond IFB1/2018/15Yr | 12.50% | 10.61% | 45.0 | |
Kenya Corp Bond SAFARICOM PLC MEDIUM TERM NOTE | 10.40% | 10.44% | 45.0 | |
Kenya Corp Bond SAFARICOM PLC MEDIUM TERM NOTE | 10.40% | 10.44% | 45.0 | |
Kenya Infra Bond IFB1/2022/6Yr | 13.22% | 9.82% | 45.0 | |
Kenya Corp Bond FAMILY BANK MEDIUM TERM NOTE FXD | 13.00% | 9.68% | 45.0 | |
Kenya Govt Bond FXD1/2008/20Yr | 13.75% | 9.40% | 45.0 | |
Kenya Govt Bond FXD1/2023/5Yr | 16.84% | 9.38% | 45.0 | |
Kenya Corp Bond FAMILY BANK MEDIUM TERM NOTE FLR | 10.00% | 9.29% | 45.0 | |
Kenya Corp Bond REAL PEOPLE MEDIUM TERM NOTE | 10.00% | 9.21% | 45.0 | |
Kenya Govt Bond FXD1/2024/3Yr | 18.39% | 7.24% | 45.0 |
Illustrative only. Actual yields depend on auction results and market conditions.
| # | Bond Name | Type | Coupon | Price | Pays In | Investment Needed | Payment (after tax) |
|---|---|---|---|---|---|---|---|
| 1 | Kenya Corp Bond LINZI 003 IABS FXD MEDIUM TERM NOTE | Corp | 15.04% | 85.41 | Jul & Jan | KES 1,135,771 | KES 100,000 ×2/yr |
| 2 | Kenya Infra Bond IFB1/2024/8.5Yr | Infra | 18.46% | 124.33 | Aug & Feb | KES 1,347,021 | KES 100,000 ×2/yr |
| 3 | Kenya Infra Bond IFB1/2021/18Yr | Infra | 12.67% | 94.92 | Mar & Sep | KES 1,498,343 | KES 100,000 ×2/yr |
| 4 | Kenya Infra Bond IFB1/2022/14Yr | Infra | 13.94% | 107.66 | Oct & Apr | KES 1,544,620 | KES 100,000 ×2/yr |
| 5 | Kenya Infra Bond IFB1/2023/6.5Yr | Infra | 17.93% | 114 | May & Nov | KES 1,271,612 | KES 100,000 ×2/yr |
| 6 | Kenya Infra Bond IFB1/2023/7Yr | Infra | 15.84% | 111.16 | Jun & Dec | KES 1,403,535 | KES 100,000 ×2/yr |
| Total Investment Required | KES 8,200,901 | KES 1,200,000/yr | |||||
Bonds pay interest every 6 months (semi-annually). A 12% coupon on KES 100,000 face value pays you KES 6,000 every six months until maturity.
Bonds can be bought and sold in the secondary market. The bond will repay KES 100 at maturity. If the bond price is KES 96, you pay less than KES 100 and gain when it matures. If the price is above KES 100, you pay more than it will repay, which may reduce your overall return.
Infrastructure and corporate bonds carry slightly more risk but compensate with higher yields.
Longer maturities generally pay higher yields (the term premium). But you can sell before maturity on the secondary market — you're not locked in.
Download DhowCSD, open a CDS account, then invest in weekly auctions. Non-competitive bids follow the market rate. Minimum: KES 50,000.
Withholding tax on bond interest is tiered: 15% for bonds with original tenor under 10 years, 10% for 10-year tenor and above (as of March 2026). Infrastructure bond coupons are tax-exempt (as of March 2026, subject to legislative change), raising net yield.
Issuer risk signal — government, infrastructure, and corporate bonds carry different risk levels reflected in the score.
Total annualised return if held to maturity. Higher scores reflect a combination of yield, price, and risk factors.
Current Market Price: The price the bond is trading at now. If the price is below KES 100, it may offer more potential gain at maturity, which increases the score.
Search "DhowCSD" on Google Play or the App Store and install it.
CDS (Central Depository System) is your government bond wallet. You only do this once. Upload your ID photo and selfie, add your KRA PIN and bank details, set your M-Pesa number.
Weekly auctions for T-bills and bonds. Choose an offer and tap "Invest".
Choose your amount (minimum KES 50,000, multiples of 50K). Select Non-competitive bid: you accept the auction rate. Pay via M-Pesa Paybill 200222.
Buy at a discount (e.g. KES 92.50), receive KES 100 at maturity. The KES 7.50 difference is your tax-free return.
Receive coupon payments every 6 months (e.g. 16% x KES 50,000 / 2 = KES 4,000 semi-annually), plus face value at maturity.
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Serrari Markets provides independent financial data and educational tools. We are not fund managers and do not hold deposits. All data is provided 'as is' without warranty. Past performance does not guarantee future results. Rates and yields shown may be delayed — always verify with the fund manager. This is for informational purposes only not investment, tax, or legal advice.
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