Kazakhstanis Reminded of 3% Mortgage and Partial Debt Write-Off

Kazakhstan continues its mortgage refinancing program for housing loans. It provides for a rate of no more than 3% per annum, write-off of interest and penalties, and additional support measures for socially vulnerable borrowers. This was announced by representatives of the Agency for Regulation and Development of the Financial Market at a briefing in Almaty. This was reported by Qazaqyia.kz citing Kursiv Media.

Foreign currency mortgage loans issued before January 1, 2016, are converted into tenge at a fixed rate of 188.35 tenge per dollar under the program.

For socially vulnerable borrowers, full or partial write-off of debt on previously refinanced loans is provided. They can also return their only home that was previously transferred to the bank's balance sheet.

According to the agency, thanks to the revolving mechanism, the total amount of support provided reached 678 billion tenge. About 60,000 mortgage borrowers received assistance.

The share of mortgage loans overdue by more than 90 days decreased from 30% in 2015 to 0.6% as of June 1, 2026.

Since July 1, 2026, the Unified Digital Platform for Collective Debt Settlement finkelisim.kz has been operating in Kazakhstan. The service works on the "one-stop shop" principle and allows borrowers to simultaneously settle obligations with several creditors.

After submitting an application, the system checks whether the borrower meets the established requirements, generates a list of loans, and sends data to creditors. After agreeing on the terms, the citizen signs a single package of documents, and creditors suspend debt collection measures.

The main advantage of the platform is that creditors assess the person's total debt burden, not each loan separately.

The procedure can be used by citizens who have overdue debts of more than 90 days to two or more creditors on unsecured consumer loans.

For socially vulnerable citizens, reduced monthly payments and extended repayment periods are provided. At the first stage, about 350,000 problem borrowers can become potential participants of the platform.