Term deposits in Kazakh banks jumped fivefold since the start of the year—from 1.1 trillion to 5.6 trillion tenge, reported the Association of Financiers and Development of Kazakhstan.
In the second quarter, the figure grew by 10.5% or 535.2 billion tenge. Meanwhile, savings deposits without early withdrawal privileges dropped by 7.2% in the second quarter, despite higher yields of up to 20% compared to 15% on term deposits.