Within the framework оf the program of preferential car loans (hereinafter - the Program), the agent of which since April 2015 is the "Development Bank of Kazakhstan" JSC (a subsidiary of "national managing holding "Baiterek" JSC, hereinafter - the Bank, DBK), allocated the next, fourth tranche of funds from public sources. 8 billion tenge received from the National budget, sent by the Bank to commercial banks: subsidiary Bank of "Sberbank" JSC, "Bank Center Credit" JSC, "Eurasian Bank" JSC - 2 billion tenge, "Halyk Bank of Kazakhstan" JSC and subsidiary Bank of VTB Bank JSC (Kazakhstan) - 1 billion tenge. In addition, 2 billion tenge was allocated to the subsidiary of the Bank JSC "DBK-Leasing", to finance legal entities and individual entrepreneurs who purchase leasing cars and special purpose vehicles.
Terms of lending to individuals-residents of Kazakhstan for the purchase of cars of domestic production: nominal interest rate – no more than 4% per annum, loan term – no more than 7 years, currency of the loan – tenge, cost of one unit of passenger vehicles - no more than 15 million tenge, level of the requested down payment is set by the commercial banks independently.
The distribution of funding limits of the fourth tranche is allocated in half between the two manufacturers of passenger vehicles in Kazakhstan:
— "SaryarkaAvtoProm" LLP — 4 billion tenge
—"Asia Auto" JSC — 4 billion tenge
To borrowers will be offered about 50 models of cars of such brands as "Kia", "Chevrolet", "Skoda", "Hyundai", etc.
Earlier, the Program allocated three tranches of funds: in 2015-2016 - the first and second tranches from the National Fund in the total amount of 26 billion tenge, in 2018 - the third tranche from the National budget in the amount of 8 billion tenge. Taking into account the fourth tranche, the financing of the Program designed for up to 20 years, increases to 42 billion tenge. Lending under the Program has a revolving character: payments from repayment of existing loans are directed to new lending. DBK conducts regular monitoring of the development of credit funds by banks-operators.
To the current date, more than 13,500 vehicles have been sold under the Program.