The average interest rates for deposits from non-bank legal entities in tenge have risen by 0.8 percentage points compared to November, reaching 14%. This is the highest rate since February 2024. Year-on-year, it has decreased by 0.6 percentage points. A similar trend was observed for fixed-term deposits of legal entities.
Average interest rates on deposits from legal entities in foreign currency increased from 2.4% to 2.5% compared to November. By December 2023, this figure had decreased by 1 percentage point. Rates for conditional deposits rose month-on-month by 1.1 percentage points, reaching 1.7%.
Interest rates for demand deposits in tenge fell to 0%, while conditional rates increased from 9% to 9.5%. The most significant rise was seen in deposits with terms exceeding 5 years in tenge, which surged by 1.3 percentage points.
For individual deposits in tenge and foreign currency, average rates remained unchanged compared to November, standing at 13.2% and 0.9%, respectively. The rate for demand deposits in foreign currency dropped from 6.6% to 4.3%, while in tenge it decreased by 0.1 percentage points to 0%.
The rate for conditional deposits in tenge fell by 5 percentage points, marking the most significant decline in the category of individual deposits. Average rates for fixed-term deposits in tenge and foreign currency remained stable.
The most notable increase was in the rates for non-fixed deposits, which rose from 12.8% to 13.6%. The rate for tenge deposits with terms up to 3 months decreased by 0.2 percentage points to 15%.
By the end of 2024, deposits held by Kazakhs in banks reached 24.52 trillion tenge, reflecting a 20.3% increase compared to 2023. Over the month, the volume of deposits grew by 6.4%. Fixed-term deposits in tenge accounted for the largest share, totaling 13.3 trillion tenge (54.2% of the total), with a year-on-year increase of 19.7%. An additional 20%, or nearly 5 trillion tenge, consists of fixed-term deposits in foreign currency. Compared to December of the previous year, their volume rose by 11%.