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Kazakhstan’s National Bank plans to extend debt burden relief for certain car loans for another year. This would allow banks to issue these loans without applying the general limit on loan payments as a share of income. National Bank Governor Timur Suleimenov announced the plans (kursiv.media). The exemption applies to specific vehicles and purchase terms, so it does not cover every car loan.
How much income can go towards loan payments
The debt burden ratio measures the share of a borrower’s average monthly income spent on loan payments. In Kazakhstan, the maximum ratio is 0.5: debt repayments should take up no more than half of a borrower’s income.
When a bank issues a loan subject to this limit, it takes payments on all loans into account, including the new one. What matters is therefore the total monthly debt payments, rather than just the future car payment.
An exemption applies to certain car loans. Banks calculate the debt burden ratio to monitor risks, but are currently not required to apply the limit when issuing these loans.
Which vehicles qualify for relief
The conditions depend on whether the car is new or used:
- A new car must be registered in Kazakhstan for the first time and pledged as collateral to the bank.
- A used car must be pledged as collateral, with a down payment of at least 50%.
- For a car no more than three years old, the down payment must be at least 30%; the collateral requirement still applies.
The planned extension covers these specific categories of loans. The announcement does not mean the debt burden ratio is being scrapped for all car buyers.
When the limit was due to return
The current relief is due to expire on 31 December 2026. In May, ARDFM Chair Madina Abylkassymova said the requirement would return at the start of 2027.
The National Bank now intends to delay applying the maximum debt burden ratio for another year. Suleimenov outlined the immediate plans: “In other words, no tightening is planned from 1 January.”
Why the National Bank decided to extend the relief
The reason is slowing growth in car lending. According to Suleimenov, annual growth in the segment had previously reached 73%, while loan disbursements had risen by 100%. This raised concerns about overheating.
Over the past 12 months, the segment grew by around 13–14%. The National Bank believes the situation has stabilised, so it does not currently plan to introduce the limit for these loans.
Oversight of the calculations remains in place. On 2 November, ARDFM launched checks of debt burden calculations at 11 major banks. A pilot inspection found that banks calculate the ratio differently.
What to check before taking out a car loan
If you are counting on the relief, check the car’s age, the down payment and the collateral requirement. For a new car, first registration in Kazakhstan also matters.
Put simply, the National Bank plans to keep the exemption for another year, but the purchase terms remain decisive. Before applying, ask the bank whether your chosen car loan qualifies for the relief.
