The savings rate of Kazakhstani households reached 11.7% in the first quarter of 2026—the highest figure on record, the National Bank reported in its August monetary policy report.
The regulator attributes the elevated savings activity to attractive bank deposit rates. In July 2026, total deposits across deposit-taking organizations increased by 20.1% year-on-year, while the share of foreign currency deposits fell to an all-time low of 19.1%. The combined share of term and savings deposits in the retail deposit portfolio rose from 8.4% in December 2019 to 31.3% in June 2026.