In July 2026, the average weighted interest rate on tenge loans issued by Kazakhstani banks to individuals rose to 21.64%, up from 20.86% in June. This means the cost of new loans for the population increased by about 0.78 percentage points in a month, according to infohub.kz.

According to the National Bank, the calculation uses the average weighted rate based on the total amount of loans issued during the reporting month. The figures for individuals also include loans to individual entrepreneurs.

The rate dynamics in recent months have been mixed. In May, the average rate on tenge loans to individuals reached 22.66%, then dropped to 20.86% in June, but rose above 21% again in July.

The most expensive loans were short-term ones with maturities of up to one month: the average rate in July was 24.35%, compared to 24.92% in June and 26.54% in May. For loans with maturities from one to three months, the rate in July was 19.33%, versus 19.20% a month earlier. Loans with maturities from three months to one year were issued at an average rate of 22.12%, which is one percentage point higher than the June figure (21.12%).

The cost of loans with maturities from one to five years remains high: in July, the average weighted rate was 24.78%, compared to 22.97% in June and 25.80% in May. Thus, after a decline in June, the rate rose significantly again. A different trend was observed for loans with maturities over five years: in July, they were issued at an average rate of 15.26%, versus 15.73% in June and 15.23% in May.

At the same time, for legal entities, the average weighted rate on tenge loans continued to decline. In July, it was 19.56%, down from 19.80% in June and 20.30% in May. Compared to May, the decrease was about 0.74 percentage points.

For business loans with maturities up to one month, the rate in July was 20.14%, compared to 20.86% in June and 21.13% in May. For loans from one to three months, the rate decreased from 20.62% in May to 19.92% in June and 19.76% in July. Loans with maturities from three months to one year were issued to legal entities at an average rate of 18.92% in July, versus 19.17% a month earlier and 19.57% in May.

For tenge loans to legal entities with maturities from one to five years, the rate in July was 22.57% (in June – 22.18%, in May – 23.32%). For loans with maturities over five years, the rate decreased more noticeably: from 19.47% in May to 19.43% in June and 18.19% in July.

As a result, the average cost of new tenge loans for businesses in July was lower than for individuals: 19.56% versus 21.64%, respectively. The difference reached about 2.08 percentage points.