Survey of Kazakhstani choices in savings accounts

A recent survey of 1,600 Kazakhstanis from 45 locales around the country indicates that a majority (55%) pay attention to the financial information of financial institutions, including credit rating and amount of equity. At the same time, more than half also indicated that they are still not ready to give up high interest rates and cashback incentives to switch to those that have more financially sound figures. 46% of Kazakhstanis also use savings products for major purchases such as an apartment, while 29% use them for short-term expenses such as repairs and vacations. 8% indicated saving in high-yield deposit accounts, and 18% distribute savings between non-term and deposit accounts. Interestingly, a large majority (76%) trust the value of the Kazakhstani tenge, with 52% saving only in tenge and 24% savings in tenge and a foreign currency.