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Kazakhstanis are saving less money in bank deposits as inflation surges and real incomes decline. The growth rate of deposits slowed significantly in 2025، reaching only 14.7% compared to over 20% in the previous two years.

Inflation Takes a Toll

The primary driver behind this trend is a sharp increase in inflation، which hit 12.3% in 2025، a notable rise from 8.6% the year before. This economic pressure has led to a 6% decrease in the real income of Kazakh citizens، with their year-end income index falling to 94%.

Shifting Spending Habits

With reduced purchasing power، a larger portion of household budgets is being allocated to essential daily needs. Reports indicate that 92% of the total spending by Kazakh citizens goes towards consumption، with food alone accounting for 52.3% of these expenditures.

Deposit Market Growth Slows

Despite the slowdown، the retail deposit market still saw growth in 2025، expanding by 14.7% to reach 28.2 trillion tenge. However، this growth rate is considerably lower than in previous years.

Expert Perspectives

Specialists from the Kazakhstan Deposit Insurance Fund (KDIF) emphasize that deposits remain a valuable tool for protecting savings against inflation and generating income. Nevertheless، financial experts have previously suggested that investing in bonds might offer more attractive returns than traditional bank deposits due to potentially higher interest rates.

This information was reported by Infohub.kz.