As previously reported, the amount of financing under the concessional lending program will be 100 billion tenge, which will be used on a revolving basis during the period of the program. The program starts May 16th. Lending will be carried out by second-tier banks. The duration of the Program is 30 years.
Lending will be subject to the following conditions:
- interest rate - 4% per annum;
- loan amount - no more than 10 million tenge;
- financing term - no more than 7 years;
- down payment - from 0%;
- the cost of the vehicle - no more than 15 million tenge
Thanks to the program, citizens of Kazakhstan have the opportunity to purchase new cars of Kazakhstan production of the following brands:
Kia , Hyundai , Chevrolet , JAC , LADA _
As the model range is updated by manufacturers, the list may be updated.
For a car loan, you can apply to second-tier banks: Eurasian Bank JSC, Bank CenterCredit JSC, Halyk Bank of Kazakhstan JSC, Forte Bank JSC. This list is not final, as applications from second-tier banks are considered, the Industrial Development Fund will add partners participating in the program.
How to become a member of the Preferential Loan Program:
1. The consumer contacts the dealership and chooses a car of domestic production;
2. Representatives of the dealership auto center issue an invoice to the borrower with the obligatory indication of the VIN code valid for no more than 5 banking days;
3. The consumer needs to apply to the Bank with an invoice for payment indicating the VIN code;
4. From the moment the consumer's application is accepted by the Bank, the Bank puts the consumer in its electronic queue;
5. The bank evaluates the solvency and credit history of the consumer. If the decision is positive, the Bank issues an approval for lending and a letter of guarantee.
6. After receiving a letter of guarantee, the consumer must contact the dealership auto center to register the car.
7. If the consumer has not drawn up a bank loan agreement no later than 10 banking days from the date of receipt of the letter of guarantee, the consumer is excluded from the queue.
It is worth noting that after submitting an application, the consumer cannot change the make and model of the selected car or re-register a place in the queue for another individual. In case of refusal, the borrower leaves the electronic queue and new participants will be added in his place. One consumer can take part in this program once every 2 years.
Second-tier banks (partner banks) are responsible for checking solvency and approving car loans. After the application is approved by the Bank, the status of the approved application is monitored by the consumer himself on the platform of the respective Bank (online queue) without the participation of the Industrial Development Fund JSC
Forte Bank: https://bank.forte.kz/credits/carloans
Halyk Bank of Kazakhstan: https://halykbank.kz/credit/lgotnoe-avtokreditovanie
Eurasian Bank: https://eubank.kz/autocredits/preferential-credit/
BankCenterCredit: https://www.bcc.kz/product/kreditovanie_na_pokupku_novogo_avtomobilya_pod_4_godovih/
There are bank managers in the car centers where you can get advice and apply. Also, you can apply to the Bank online. There are no restrictions for a one-time application from one consumer to different second-tier banks.
