InfoHub Logo

Kazakhstan's banking sector is shifting its focus, with financial institutions now prioritizing term deposits over simple savings accounts. This strategic move aims to attract and retain customers by offering competitive returns, with some options yielding up to 20.5% annually, according to the Kazakhstan Deposit Insurance Fund (KDIF).

Shifting Deposit Market Trends

Banks are increasingly emphasizing term deposits, a change from their previous focus on general savings accounts. Despite this shift, the overall profitability of deposits has remained relatively stable, though the terms and conditions have become more flexible. This adaptation is a direct response to market competition and the need to draw in new clients.

Short-Term Deposits Lead the Way

Currently, the highest interest rates are being offered on short-term deposits. This trend is closely linked to expectations surrounding the base interest rate. The National Bank of Kazakhstan is scheduled to announce its next decision on the base rate on April 24, 2026.

Understanding Deposit Profitability and Flexibility

The KDIF highlights a clear pattern in the deposit market: higher returns typically come with stricter terms, while more flexible products offer lower yields. This means savers must carefully weigh their options based on their financial goals and liquidity needs.

Key Considerations When Choosing a Deposit

When applying for a deposit, the KDIF advises customers to look beyond just the interest rate. It's crucial to assess the reliability of the bank and thoroughly review the contract. Key details to confirm include whether the deposit can be replenished, the conditions for early withdrawal, and the extent of deposit insurance coverage.

Deposit insurance provides a safety net for savers. If a single depositor holds multiple accounts in one bank, the total insured amount should not exceed 20 million tenge.

Deposits continue to be a reliable method for both safeguarding and growing personal funds.