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Recommended interest rates on bank deposits


The following maximum interest rates for newly accepted bank deposits of individuals (as recommended by KDIF) and maximum floating rate spreads for national currency deposits commencing are established to take effect in September, 2019:

The Maximum Annual Fixed Interest Rate
  Fixed interest deposit category Market interest rate /Base rate, % Spread, percentage point Maximum Interest Rate, % Value of the right to replenish, percentage point

Maximum 
Interest Rate including value of the right to replenish, %

  (1) (2) (3) (4) = (2) + (3) (5) (6) = (4) – (5)

1

Deposits denominated in national currency

         
1.1. Non-time deposits  9.5 0.5 9.5   9.5
1.2. Time deposits:          
  3 month 9.0 1.0

10.0

0.0  10.0
  6 month 9.3 1.0 10.3 0.0 10.3
  12 month 10.8 1.0 11.8 0.5 11.3
  24 month 10.9 1.0 11.9 1.1 10.8
1.3. Savings deposits          
  3 month 11.4 1.0 12.4 0.0  12.4
  6 month 12.3 1.0 13.3 0.0 13.3
  12 month 12.5 1.0 13.5 1.1 12.4
  24 month 13.2 1.0 14.2 1.9 12.3
2. Deposits denominated in foreign currency          
 2.1  Non-time deposits      1.0   1.0
2.2.  Time deposits           
   Above 12 month     1.0   1.0
  Beyond 12 month     2.0   2.0
2.3. Savings deposits          
  Above 12 month     1.0   1.0
  Beyond 12 month     2.0   2.0

 

The maximum spreads on deposits in national currency with a floating interest rate are set in the following amount:

Maximum spreads on deposits in national currency with floating interest rate
  Basic indicator * Spread, p.p.
1 Base rate of NBK 1.0
2 The rate of inflation 2.0
3 TONIA 1.0
4 TWINA 1.0

 

In accordance with the Law of the Republic of Kazakhstan dated July 2, 2018 No. 168-VI "On amendments and additions to some legislative acts of the Republic of Kazakhstan on currency regulation and currency control, risk-based supervision of financial organizations, protection of consumer rights of financial services and improvement of the activity of the National Bank of Kazakhstan", the amount of interest rates for a demand deposit is established by the bank deposit agreement within the limit of 0.1% per annum, while no interest shall be paid for use of monetary funds allocated with current bank account.

  • Historical recommended interest rates on newly attracted deposits of individuals
    Validity Period Tenge Foreign Currency
    01/07/2018 – 01/10/2018 12% 1%
    01/12/2017 – 30/06/2018 14% 1%
    01/07/2017 – 30/11/2017 14% 1.5%
    01/01/2017 – 30/06/2017 14% 2%
    01/07/2016 – 31/12/2016 14% 2%
    01/02/2016 – 01/07/2016 14% 2%
    01/07/2015 – 31/01/2016 10% 3%
    01/01/2015 – 30/06/2015 10% 3%
    01/04/2014 – 31/12/2014 - 4%
    01/03/2014 – 31/12/2014 10% -
    01/11/2013 – 31/03/2014 - 4,5%
    01/11/2013 – 28/02/2014 9% -
    01/07/2013 – 31/10/2013 9% 5,5%
    01/01/2013 – 30/06/2013 9% 5,5%
    01/07/2012 – 31/12/2012 9% 6%
    01/04/2010 – 30/06/2012 10% 7%
    21/09/2009 – 31/03/2010 11,5% 8%
    16/02/2009 – 20/09/2009 13,5% 8%
    01/07/2008 – 15/02/2009 13,5% 10%
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