KIBOR Rate Today in Pakistan: 1-Year Offer 12.76% on 22 October, Four Days Before the SBP Decision
KIBOR on 22 October 2026: 3-month offer 12.01%, 6-month 12.43%, 1-year 12.76%, per SBP. The overnight repo rate is 11.08% and the policy meeting is 26 October.
The 1-year KIBOR offer rate was 12.76% on 22 October 2026, the 6-month rate was 12.43% and the 3-month rate was 12.01%, according to the State Bank of Pakistan (SBP). The 6-month and 12-month offers each slipped 0.01 points from Wednesday. The overnight repo rate fell to 11.08%. The policy rate is 11.50%, and the committee meets next on 26 October.
KIBOR, the Karachi Interbank Offered Rate, is the rate banks quote to lend to each other. Most variable car, home and business loans are priced as KIBOR plus a bank's margin. We read the figures on the SBP home page late on 22 October, where they are labelled "KIBOR as on 22 Oct 26".
KIBOR on 22 October: 3 months 12.01%, 6 months 12.43%, 1 year 12.76%
SBP shows a bid and an offer for each period, and loans use the offer. On 22 October the offers were 12.01% for 3 months, 12.43% for 6 months and 12.76% for 12 months. Only the 6-month and 12-month rates changed from the day before.
| KIBOR period | Bid, 22 Oct | Offer, 22 Oct | Offer, 21 Oct | Offer, 5 Oct |
|---|---|---|---|---|
| 3 months | 11.76% | 12.01% | 12.01% | 11.97% |
| 6 months | 12.18% | 12.43% | 12.44% | 12.39% |
| 12 months | 12.26% | 12.76% | 12.77% | 12.68% |
The 21 October column comes from our KIBOR report for 21 October. The 5 October column comes from the KIBOR explainer. Against 5 October, the offers are up 0.04, 0.04 and 0.08 points, our arithmetic from SBP's two readings.
The overnight repo rate fell to 11.08%, 0.42 points under the policy rate
The weighted average overnight repo rate was 11.08% on 21 October, down from 11.17% on 20 October. It sits 0.42 points under the 11.50% policy rate and 0.58 points above the 10.50% floor of SBP's corridor. The ceiling is 12.50%.
The overnight rate is what banks pay for one night of cash in the money market. A reading under the policy rate means banks had enough cash that day. The corridor mechanics are in the explainer on the policy rate and corridor, and past decisions are in the list of every change since 2023.
The policy committee meets on 26 October, four days from now
SBP's advance calendar lists the next Monetary Policy Committee meeting for 26 October 2026. The rate is 11.50% after a hold on 14 September. We report no forecast here. The date matters because bank lending rates and KIBOR usually react to the decision.
The full calendar, with the date of the press conference and minutes, is in the report on the next policy meeting. What a rate change does to an instalment is in what the policy rate does to your loan.
A loan priced at 1-year KIBOR plus 3.5% now costs 16.26%
A loan quoted as 1-year KIBOR plus a margin has a rate that moves with the offer. At 12.76%, a margin of 3.5% gives 16.26%, and a margin of 4% gives 16.76%. These margins are examples, not any bank's offer.
| Margin over 1-year KIBOR | Loan rate on 22 Oct | Monthly instalment on Rs 1,000,000 over 5 years |
|---|---|---|
| 3% | 15.76% | About Rs 24,191 |
| 3.5% | 16.26% | About Rs 24,456 |
| 4% | 16.76% | About Rs 24,724 |
The instalments are our calculations from the standard formula for equal monthly payments. A 0.01 point fall in KIBOR changes the instalment by about Rs 5, so no borrower will feel yesterday's move.
- Find the KIBOR period your loan uses, 3 months, 6 months or 1 year.
- Find your loan's reset date in the loan papers.
- Add your margin to the offer rate on that date.
- Compare the result with your current rate.
Treasury bill yields stay between 11.5% and 12.5%
SBP's latest auction cut-off yields are 11.5003% for 1-month, 11.9999% for 3-month, 12.3989% for 6-month and 12.4999% for 12-month treasury bills, as on 14 October. Fixed-rate bond cut-offs on the page are dated 18 September.
The 12-month bill yield of 12.4999% is 0.26 points under the 12-month KIBOR offer of 12.76%. The auction itself is in the 14 October auction result. We did not read a date for the next auction.
Common questions
What is the KIBOR rate today?
On 22 October 2026 the 1-year offer was 12.76%, the 6-month 12.43% and the 3-month 12.01%, per SBP.
Did KIBOR go up or down on 22 October?
It edged down. The 6-month and 12-month offers each fell 0.01 points from 21 October, and the 3-month offer was unchanged.
Which side of KIBOR do loans use?
The offer side. SBP shows a bid and an offer, and a loan is priced off the offer.
Is KIBOR the same as the policy rate?
No. The policy rate is 11.50% and is set by SBP's committee. KIBOR is a market rate that moves daily.
When does SBP decide on the policy rate next?
On 26 October 2026, according to SBP's advance calendar for the financial year.
Will my instalment change tomorrow?
Not unless your loan resets tomorrow. Variable loans reprice on a set date in the loan papers.
How we verified this
What we checked, where we read it, and what we could not confirm.
Last checked late on 22 October 2026. The KIBOR bids and offers, policy rate, corridor, overnight repo rate and treasury bill cut-off yields come from the home page of the State Bank of Pakistan at sbp.org.pk. The 21 October and 5 October KIBOR figures come from the SBP pages our earlier reports read. The margin rates and instalments are our arithmetic, and they are examples, not bank offers. We did not read any bank's pricing page, and SBP may revise a KIBOR figure later in the day.
About the author
Senior Writer, Public Services and Technology
Shahid joined us in 2024 as an author. He is a senior contributor to Pakistan's leading technology websites. He writes detailed articles, mostly covering his expertise in the latest tech, mobiles, apps, gadgets, and step-by-step guides. His ideology is to help people understand the latest trends and explain complex methods through very easy-to-understand guides.
