KIBOR rate: today's fixings and what it means
Updated
What is the KIBOR rate today?
KIBOR (Karachi Interbank Offered Rate) is the rate banks quote each other at 11:30 am, published daily by the State Bank of Pakistan; loans priced "KIBOR + margin" use the offer side. On 21 October 2026 the 1-year KIBOR was 12.77%, 6-month 12.44% and 3-month 12.01% (offer, SBP). SBP's policy rate is 11.50%.
| Tenor | Bid | Offer (used for loans) |
|---|---|---|
| 1 week | 11.34% | 11.84% |
| 2 weeks | 11.38% | 11.88% |
| 1 month | 11.45% | 11.95% |
| 3 months | 11.76% | 12.01% |
| 6 months | 12.19% | 12.44% |
| 9 months | 12.22% | 12.72% |
| 1 year | 12.27% | 12.77% |
Official rule: KIBOR (Karachi Interbank Offered Rate): the clean (unsecured) interbank lending/borrowing rates that panel banks quote at 11:30 am; SBP publishes them daily for tenors from one week to one year. (source, checked 2026-10-21)
Not a valid document. Estimate for information only — not financial advice, not an offer of credit and not a bank document. Errors are possible. Only your bank's or finance company's official offer letter, contract and statements are binding.
What is the KIBOR rate today?
The latest fixing we have is of 21 October 2026: SBP's KIBOR file for that day. It is read automatically each working day from the State Bank of Pakistan; the table disappears from this page if the newest fixing is more than two weeks old when the site is updated.
| Fixing | 3-month KIBOR | 6-month KIBOR | 1-year KIBOR |
|---|---|---|---|
| 21 October 2026 | 12.01% | 12.44% | 12.77% |
| 20 October 2026 | 12.01% | 12.43% | 12.76% |
Offer side, % a year. Check SBP's KIBOR page for today's file.
What does KIBOR mean?
KIBOR (Karachi Interbank Offered Rate): the clean (unsecured) interbank lending/borrowing rates that panel banks quote at 11:30 am; SBP publishes them daily for tenors from one week to one year. SBP publishes the rates; it does not set them — they are an average of what panel banks quote. SBP's own decision is the policy rate: SBP policy rate: 11.50% a year (unchanged at the Monetary Policy Committee of 14 September 2026; corridor 10.50%–12.50%). Context only — not a cap on loan rates.
Which KIBOR does my loan use — bid or offer?
When a loan is priced "KIBOR + margin", SBP's 2004 rule means the offer (ask) side of KIBOR for the agreed tenor. Your offer letter must name the KIBOR tenor (for example 6-month or 1-year), the margin and how often the rate is reset.
How does KIBOR change my installment?
SBP sets no ceiling on the mark-up/profit rate of consumer financing. A fixed rate may not be raised during the tenor; a floating rate is a benchmark (KIBOR or another rate) plus a margin that may not be raised. At each reset date the bank reads the agreed KIBOR again, adds the same margin and recalculates the installment; a new repayment schedule follows. SBP publishes no official margin — the margin in our calculators is your own figure from the Key Fact Statement.
When does KIBOR change next?
KIBOR moves every working day, and mostly with SBP's policy rate. SBP's next Monetary Policy Committee meeting: 26 October 2026 (calendar subject to change).
KIBOR in Islamic financing
Islamic banks often use KIBOR as the benchmark for the profit or Ijarah rent; the contract stays a sale, lease or partnership. Ijarah (SBP): the owner of an asset transfers its usufruct (use) to another person for an agreed period and rent; ownership stays with the owner.
Where to complain
- Your bank first, in writing. It must acknowledge the complaint and resolve it within SBP's time limits (card disputes within 45 working days at most).
- SBP's complaint portal Sunwai — sunwai.sbp.org.pk — also for Roshan Digital Accounts. Your Key Fact Statement carries the link.
- Banking Mohtasib Pakistan (the banking ombudsman) if the bank has not resolved your written complaint within 30 days — how to file.
Questions people ask
What is the 1 year KIBOR rate today?
On 21 October 2026 the 1-year KIBOR (offer) was 12.77% (State Bank of Pakistan); the table at the top of this page shows all tenors. SBP publishes a new file every working day.
Who sets KIBOR?
Nobody sets it directly: panel banks quote interbank rates at 11:30 am and SBP publishes the trimmed average. SBP's own lever is the policy rate, which KIBOR usually follows.
Is KIBOR the same as the SBP policy rate?
No — the policy rate (11.50%) is SBP's decision; KIBOR is the market rate between banks for 1 week to 1 year.
Do Islamic banks use KIBOR?
In Pakistan, many do, as a benchmark for the profit rate or the Ijarah rent; the contract itself stays Shariah-compliant.