Investing in money market funds in Kenya has become a go-to option for Kenyans seeking low-risk, high-yield investments that balance stability, liquidity, and competitive returns.

In 2025, the best money market funds in Kenya continue to attract both beginner and seasoned investors, thanks to their accessibility and ability to preserve capital while offering steady growth.

Whether you’re searching for the best MMF in Kenya 2025 or comparing CIC vs NCBA MMF, this guide ranks the top 5 money market funds in Kenya based on their performance, fees, minimum deposits, and app features.

We spotlight leading players: CIC, NCBA, Sanlam, ICEA Lion, and Old Mutual to help you make an informed investment decision.

What Are Money Market Funds in Kenya?

Money market funds (MMFs) are low-risk unit trusts managed by professional fund managers who pool investors’ money to invest in short-term, high-quality instruments like Treasury bills, fixed deposits, and commercial paper.

Regulated by the Capital Markets Authority (CMA), MMFs are ideal for risk-averse investors seeking capital preservation, liquidity, and daily compounding interest.

With minimum investments as low as KES 100 and user-friendly apps for seamless management, MMFs are a cornerstone of Kenya’s growing financial landscape, driven by the country’s leadership in mobile money transactions (62 billion in 2023, per GSMA).

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Below, we explore the top 5 MMFs in Kenya for 2025, detailing their interest rates, fees, minimum deposits, and app features.

1. CIC Money Market Fund

CIC Money Market Fund is a powerhouse in Kenya’s MMF landscape, holding the largest market share according to CMA data.

Managed by CIC Asset Management Limited, this fund is renowned for its stability, competitive returns, and robust ecosystem, including Co-op Custodial Services (custodian), KCB Bank (trustee), and PWC (auditor).

Interest Rates: As of May 2025, CIC MMF offers an effective annual yield of approximately 10%, based on recent trends (e.g., 9.89% in 2023, per, and 10% in May 2025, per). Interest is compounded daily and credited monthly, maximising returns.
Fees: An annual management fee of 2%, with no entry or exit fees. Note that withdrawals more than twice a month incur a KES 1,000 penalty.
Minimum Deposits: KES 5,000 initial investment, with KES 1,000 top-ups, making it accessible for most investors.
App Features: The CIC MMF app supports M-Pesa deposits, online withdrawals (processed within 2-4 days), and real-time portfolio tracking. The app’s user-friendly interface simplifies onboarding and transactions.
Why Choose CIC?: Ideal for investors seeking high liquidity and capital stability. Its large asset base and strong risk management make it a top choice for CIC money market fund Kenya searches.

Best For: Investors prioritising security, competitive returns, and a seamless CIC MMF app experience.

2. NCBA Money Market Fund

NCBA Money Market Fund, managed by NCBA Investment Bank, is a strong contender known for its stability and fast withdrawal processing. With a portfolio size of KES 14.89 billion as of 2022, it has shown significant yield improvements, reaching up to 11% in 2023.

Interest Rates: Recent data suggests an effective annual yield of around 10.48% (daily yield 10.48%, per), with projections for 2025 aligning at 10-11% (10% in May 2025, per). Interest is compounded daily.
Fees: 2% annual management fee, no entry or exit fees, ensuring cost efficiency.
Minimum Deposits: KES 5,000 initial investment and KES 5,000 top-ups, slightly higher than competitors but accessible.
App Features: The NCBA MMF app offers same-day withdrawals (if requested before 10 AM), M-Pesa integration, and portfolio monitoring, making it ideal for investors seeking fast liquidity.
Why Choose NCBA?: Its same-day withdrawal feature and strong backing by NCBA Group make it a top pick for those comparing CIC vs NCBA MMF.

Best For: Investors looking for quick withdrawals and consistent returns in a low-risk MMF Kenya.

3. Sanlam Money Market Fund

Sanlam Money Market Fund, managed by Sanlam Investments East Africa Limited, is a fast-growing MMF with a portfolio size of KES 50 billion as of 2025. Known for its low fees and high yields, it’s a favourite for low-risk investors.

Interest Rates: Delivers an impressive 13.03% effective annual yield in 2024 (per), with May 2025 estimates at 10.9% (per). Interest is compounded monthly and calculated daily.
Fees: A competitive 1.5% annual management fee, lower than most competitors’, with no initial fees.
Minimum Deposits: KES 2,500 initial investment and KES 1,000 top-ups, making it beginner-friendly.
App Features: The Sanlam MMF app offers self-onboarding, M-Pesa deposits, instant transaction initiation, and downloadable statements, enhancing user experience.
Why Choose Sanlam?: Its low-fee MMF structure and high-yield returns make it a top choice for Sanlam money market fund Kenya searches.

Best For: Beginners and investors seeking low fees and a user-friendly MMF app Kenya.

4. ICEA Lion Money Market Fund

ICEA Lion Money Market Fund, managed by ICEA Lion Asset Management, is backed by one of Kenya’s oldest financial institutions, offering a blend of reliability and competitive returns. Its portfolio size was KES 17.9 billion in 2024.

Interest Rates: Offers an effective annual yield of around 9.8% in May 2025 (per), with historical yields at 8.9% in 2023. Interest is compounded daily and credited monthly.
Fees: 2% annual management fee, with no entry or exit fees. Withdrawals under KES 10,000 are processed within 24 hours.
Minimum Deposits: KES 500 initial investment and KES 500 top-ups, among the lowest in the market, ideal for beginners.
App Features: The ICEA Lion MMF app supports online withdrawals (3 days for amounts over KES 10,000), M-Pesa integration, and portfolio tracking, with a focus on ease of use.
Why Choose ICEA Lion? Its low minimum deposit and strong track record make it a top pick for ICEA Lion MMF rates 2025 searches.

Best For: First-time investors seeking low-risk, high-interest portfolios with minimal entry barriers.

5. Old Mutual Money Market Fund

Old Mutual Money Market Fund, managed by Old Mutual Investment Group, is a stable option with a portfolio size of KES 12.1 billion in 2024. It appeals to investors seeking reliability and competitive returns.

Interest Rates: Yields around 9.7% annually in 2023 (per), with projections for 2025 at 9.5-10% based on market trends. Interest is compounded daily and credited monthly.
Fees:3.37% annual management fee, higher than competitors, but no initial fees.
Minimum Deposits: KES 1,000 initial investment and KES 1,000 top-ups, accessible for most investors.
App Features: The Old Mutual MMF app offers online portfolio management, M-Pesa deposits, and withdrawal requests (processed in 2-4 days), with a focus on investor convenience.
Why Choose Old Mutual?Its long-standing reputation and capital stability make it a trusted choice for Old Mutual MMF Kenya searches.

Best For: Investors prioritising brand trust and consistent returns despite higher fees.

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Comparing CIC vs NCBA MMF and Others

When choosing the best MMF in Kenya 2025, consider your financial goals and risk tolerance:

CIC vs NCBA MMF: CIC offers a larger asset base and slightly lower top-up requirements (KES 1,000 vs. KES 5,000), but NCBA excels in same-day withdrawals. Both yield around 10% in 2025.
Sanlam vs ICEA Lion: Sanlam’s lower fees (1.5%) and higher yields (10.9%) edge out ICEA Lion’s 9.8% yield and 2% fees, but ICEA Lion’s KES 500 minimum is ideal for beginners.
Old Mutual: Higher fees (3.37%) make it less cost-effective, but its reputation ensures stability for conservative investors.

Ready to grow your wealth? Explore these best MMF apps in Kenya 2025 and start investing with as little as KES 500. Stay informed by following updates from the Capital Markets Authority and fund providers to track MMF rates 2025.

Which MMF suits your goals? Share your thoughts or contact a financial advisor for personalised guidance!

Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.