The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published borrower guidance on how to repay loans early and what to check to ensure the repayment is processed correctly, including steps to confirm closure and monitor credit history. The guidance highlights the need to review the loan agreement and the bank’s early repayment procedures, noting that while Kazakhstan’s legislation prohibits penalties for early repayment, banks may retain compensation or charge a penalty if a loan is repaid in full within the first six months for loans with a term of up to one year, or within the first twelve months for loans with a term longer than one year. It advises borrowers to confirm the exact outstanding amount with the bank (as funds may be applied first to overdue payments or fines), choose between full and partial prepayment (with partial prepayment typically offering either a shorter term or a lower monthly payment, and the shorter-term option usually being more advantageous), and ensure the bank’s required channel or application process is followed so the payment is not merely booked against the existing schedule. After full repayment, borrowers are advised to obtain a document confirming the loan is closed and to check their credit history with credit bureaus; if errors are found, they can be corrected for free via the Fingramota.kz “Change credit history” section, a joint project with the First Credit Bureau, using a form that requires an individual identification number and phone number and is limited to credit reports issued in the last ten business days.

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