Kazakhstan’s Otbasy Bank has temporarily stopped issuing loans to pay off mortgage debt at other banks and financial institutions through October 23, 2026.
The restriction applies to external refinancing, where a borrower takes out a new loan from Otbasy Bank to clear an existing home loan balance with another lender. The suspension was triggered by new refinancing rules that took effect on October 1, requiring the bank to obtain the client’s consent to transfer funds directly to the institution holding the current loan.
The bank continues to accept and review loan applications as usual, but disbursements are on hold through October 23 even for approved files. Otbasy Bank plans to resume issuing these loans once the required process updates are completed. The refinancing program offers interest rates starting at 3.5% per annum and housing loan amounts of up to 100 million tenge.