In the second quarter of 2026, the volume of savings deposits in Kazakhstan decreased by 7.2% to 2.5 trillion tenge. These deposits typically offer the highest yields, reaching up to 20% or more at their peak for short-term investments up to six months, reports infohub.kz.
According to the Kazakhstan Deposit Guarantee Fund (KDGF), the decline in savings deposits is occurring against the backdrop of active growth in term deposits, which allow withdrawals but with a partial loss of interest. Rates on these are usually slightly lower than on savings deposits. Over seven months, starting from December 1, the volume of term deposits increased fivefold, from 1.1 trillion to 5.6 trillion tenge, and in the second quarter alone, growth was 10.5% (+535.2 billion tenge).
This growth has contributed to an increase in the share of stable funding for banks: the indicator reached 30.9% for the system as a whole and 39.4% for tenge deposits. The KDGF notes this as a positive trend.
Nevertheless, the most popular among Kazakhstani depositors remain demand deposits—accounts with free withdrawal and top-up but with the lowest rates. The average annual yield on these is 15.2% and has not changed significantly since April. Over the quarter, the volume of such deposits grew by 3.2%, reaching 9.7 trillion tenge.
Earlier, Kursiv noted that foreign currency deposits in the second quarter of 2026 barely grew relative to the overall increase in deposits. Kazakhstani citizens are in no hurry to hold funds in dollars, despite the attractive exchange rate for purchasing foreign currency.