Financial funds for preferential auto loans to individuals have already been provided to commercial banks. In particular, to Eurasian Bank, Sberbank, Bank CenterCredit, Halyk Bank of Kazakhstan - KZT 1,875 mln., VTB (Kazakhstan) - KZT 500 mln.
Loan conditions to individuals for the purchase of domestic cars: the nominal rate of return - no more than 4% per annum, the loan period - not more than 7 years, the borrowing currency - KZT, the cost of one unit of car - not more than KZT15 mln., the level of the requested initial contribution is set by commercial banks independently.
The borrowers will be offered about 60 models of cars of such brands as Kia, Chevrolet, Skoda, Hyundai, etc., which are assembled at SaryarkaAvtoProm LLP and AZIA AVTO JSC.
Since the launch of the Program for auto loans, KZT 26 bln. has been allocated from the National Fund. During this period, due to the state support, about 10 thousand Kazakhstanis purchased new cars of domestic production. The total amount of issued loans, taking into account the secondary implementation of funds exceeds KZT 39 bln.
It should be reminded that the Program of preferential car loans, the operator of which is DBK, was launched in April 2015 and is designed for 20 years. Development Institute conducts regular monitoring of the implementation of loan funds by agent banks. Financing has a revolving character, that is, payments from repayment of existing loans are again directed to car loans.
Development Bank of Kazakhstan JSC (DBK) is a national development institution for the modernization and development of the non-resource and infrastructural sectors of the economy of Kazakhstan that was established in 2001. The main activities: development of production infrastructure and manufacturing sector, assistance and attraction of foreign and domestic investments into the economy of the country. DBK is one of the largest investment operators of the State Program of Accelerated Industrial and Innovative Development (SPAIID). (www.kdb.kz, facebook.com/kdb.kz). DBK is part of the structure of Baiterek National Managing Holding JSC.
