Unsecured loans fall in Kazakhstan

16:47 29 Sentyabr 2015
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Baku, Azerbaijan, Sept. 29

By Elena Kosolapova – Trend:

Unsecured loans fell by 2.2 percent in Kazakhstan in June-September 2015, according to the Ranking.kz analytical service.

“The weighted average effective interest rate on unsecured loans market in September amounted to 27.26 percent compared to 29.43 percent in June,” said the message.

In total, 21 banks operate on the unsecured loans market in Kazakhstan, and 39 proposals were submitted.

The rates reduction is observed in six second-tier banks (8 proposals). The largest decline occurred in the ATF Bank – a 16.19 percent decline (the current rate starting from 17.1 percent), followed by VTB, a 14.72 percent decline (starting from 32.53 percent), and Kazkom wraps up the TOP-3 with a 12.01 percent decline (starting from 25.64 percent).

Increase of the rates occurred in two banks (2 proposals): a 0.2 percent increase in the Bank of Astana (the current rate starting from 34.9 percent) and a 10.59 percent increase in the Eurasian Bank (starting from 48.1 percent).

The most popular (most common) maximum amount of the loan on the market equals to 3 million tenge (269.81 tenge = $1), seven second-tier banks out of 21 offer this sum (10 out of 39 proposals).

As of September, the cheapest loan in this segment is offered by the ATF Bank – starting from 17.1 percent. Sberbank has the maximum effective interest rate on the market – starting from 31.2 percent.

The maximum loan term in this segment is 48 to 60 months. The loan for five years can be drawn in Kazkommertsbank, ATF Bank and Fortebank.

Edited by CN


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