The average interest rate on deposits held by individuals in the national currency stood at 14.6% in August, while the rate on corporate deposits was 15.7%. These are the lowest levels in nearly a year, according to National Bank data, infohub.kz reports.
Returns on individual deposits continue to decline. According to the National Bank, the average deposit rate fell to 14.6% in August from 14.7% a month earlier. That is the lowest figure since October 2025.
Short-term deposits of one to three months remain the most profitable, though rates there are also slipping: in August the average rate dropped by 0.2 percentage points to 17.7%, down from a peak of 18.1% in May. Rates in the other categories were unchanged over the month: deposits with terms of three months to one year paid 14.6%, while those of one to five years paid 14.2%.
The rate on business deposits also fell by 0.2 percentage points, to 15.7%. In the spring it had reached 16.8% and held at that level for several months in a row.
For deposits of one to three months, the rate stood at 16.2%, down 0.4 percentage points from the previous month. At its May peak it reached 17.2%. In the under-one-month category the rate was 15.6%, down 0.2 percentage points, and for deposits of three months to one year it was 15.8%, also down 0.2 percentage points.
For deposits of one to five years, businesses were offered accounts with an average return of 15.4%.
Earlier, the Kazakhstan Deposit Insurance Fund forecast that returns on Kazakhstanis' deposits could continue to decline after the National Bank cut its base rate to 16.25% on September 4.