Preferential car loans

Support of domestic automakers

The funds of the National Fund and the Republican budget of the Republic of Kazakhstan are allocated to support domestic automakers through conditional financing of second-tier banks (hereinafter - STB) for lending to individuals - buyers of Kazakhstan-made passenger cars.

The total funding limit is 26 billion tenge from the national Fund, 8 billion tenge from the National budget and 40 billion from the National Bank of RK. 

Second-tier banks conduct an examination of the solvency of end borrowers and decide on the issuance of loans. The queue for issuing loans to individuals is conducted by second-tier banks.

If the second-tier banks have idle funds to issue loans under the program, the second-tier banks send information to the Development Bank on approved applications of individuals. Under the budget of the National Fund of the Republic of Kazakhstan, the Development Bank checks the received applications for compliance with the conditions of the program (maximum cost of the car, loan term, nominal rate of return) and, within 3 business days, confirms the possibility of writing off of amounts by second-tier banks from a special account with the National Bank of the Republic of Kazakhstan. Within the allocated funds from the Republican Budget and the National Bank of Kazakhstan, there is no procedure for confirming the write-off of funds from a special account with the National Bank of the Republic of Kazakhstan.

Conditions of the program of preferential car loans:

* models for the car manufacturer Hyundai Trans Kazakhstan LLP apply to 20 billion tenge, issued to second-tier banks in 2020 within the framework of the program for lending to buyers of domestic cars, approved by the Resolution of the Board of the National Bank dated May 31, 2019 No. 79.