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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of January 28, 2016 No. 8

About approval of Method of calculation of regular payments on the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability and also temporary bases for calculation of remuneration for such loans, (microcredits)

(as amended on 29-01-2021)

According to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" and of November 26, 2012 "About microfinancial activities" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Method of calculation of regular payments on the loans and the microcredits issued by the banks, the organizations performing separate types of banking activities, both the microfinancial organizations to physical persons and providing repayment schedule availability, and also temporary bases for calculation of remuneration for such loans (microcredits).

2. To department on consumer protection of financial services (Terentyev A. L.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal support department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution in the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan":

on official publication in information system of law of Ad_let within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

for inclusion in the State register of regulatory legal acts of the Republic of Kazakhstan, Reference control bank of regulatory legal acts of the Republic of Kazakhstan within ten calendar days from the date of its obtaining by National Bank of the Republic of Kazakhstan after state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

3. To department of the international relations and public relations (Kazybayev A. K.) direct this resolution to official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Galiyeva D. T.

5. This resolution becomes effective since July 1, 2016 and is subject to official publication.

Operation of this resolution extends to the contracts signed since July 1, 2016.

Chairman of National Bank

D. Akishev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of January 28, 2016 No. 8

Method of calculation of regular payments on the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability, and also temporary bases for calculation of remuneration for such loans (microcredits)

1. General provisions

1. These Method of calculation of regular payments on the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability, and also temporary bases for calculation of remuneration for such loans (microcredits) (further - Techniques) are developed according to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" and of November 26, 2012 "About microfinancial activities" and determine method of calculation of regular payments by the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability and also temporary bases for calculation of remuneration for such loans (microcredits).

Requirements of Techniques extend to branches of banks - nonresidents of the Republic of Kazakhstan.

2. Techniques are applied to calculation of drafts of debt repayment schedules by methods of the differentiated and annuity payments.

3. The bank, the organization performing separate types of banking activities, the organization performing microfinancial activities to the conclusion of the agreement of bank loan (the agreement on provision of the microcredit) provides to physical person (further - the borrower) for the choice of method of repayment of loan (microcredit) drafts of the repayment schedules of loan (microcredit) calculated by methods of the differentiated and annuity payments.

2. Method of calculation of regular payments by method of annuity payments

4. Calculation of the amount of regular (monthly) annuity payment is perfromed on the following formula (the result of calculation is rounded to two signs after comma):

                                                                          i/12
                                                            P = S *-------------------,
                                                                           1-(1+i/12)-n

where:

P - amount of regular (monthly) annuity payment;

i - annual rate of remuneration on loan (microcredit);

S - remaining balance of principal debt on loan (microcredit);

n - number of repayments.

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