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Kazakhstan decreases maximum recommended rates on savings deposits

Finance Materials 1 February 2021 12:44
Kazakhstan decreases maximum recommended rates on savings deposits

BAKU, Azerbaijan, Feb. 1

By Nargiz Sadikhova - Trend:

Kazakhstan Deposit Insurance Fund (KDIF) has revised the maximum recommended rates on tenge denominated deposits for March 2021, somewhat reducing them, Trend reports with reference to KDIF.

Thus, interest rates on term deposits with replenishment right placed for three and six months will be 9 percent remaining at the level of Feb. 2021, whereas for those without replenishment right it will be 9.5 percent.

Interest rates on term deposits with replenishment right placed for 12 and 24 months will be 10.3 and 9.1 percent respectively, whereas for those without replenishment right it will be 10.7 and 9.4 percent respectively (both remain at the level of Feb. 2021).

Furthermore, interest rates on savings deposits with replenishment right placed for three and six months will be 10 percent, whereas for those without replenishment right it will be 10.5 percent.

In turn, interest rates on savings deposits with replenishment right placed for 12 and 24 months will be 12.3 and 11.3 percent (lower by 0.2 percent) respectively, whereas for those without replenishment right it will be 14 and 12.8 percent (lower by 0.5 percent) respectively.

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