Following the National Bank of Kazakhstan's decision to lower the base rate from 16.25 to 15.75 percent on October 23, local financial institutions have begun adjusting their deposit offerings. This marks the fourth consecutive decrease since June 2026, when the rate was 18 percent. Data from the Kazakhstan Deposit Insurance Fund indicates that nine banks modified their interest rates throughout October. While the prevailing trend involves a reduction in yields for term and savings deposits, the adjustments are not uniform across the sector. Some institutions opted to increase rates for specific products, such as term deposits with top-up capabilities, while others lowered them. These shifts reflect the ongoing reaction of the banking market to the central bank's monetary policy adjustments aimed at managing the national economic landscape.
Source : Tengrinews
Photo : Tengrinews
