Online Mortgage Calculator: What It Is and How to Calculate Monthly Payments in Tenge

Please note: this calculator is provided for informational purposes only and is not an official tool for calculating mortgage payments.

Applying for a mortgage is simple and convenient — for example, Bank CenterCredit offers an online application option. The #OnlineMortgage program applies to secondary housing and allows for loan amounts of up to 100 million tenge. The application is reviewed within 2 minutes, and there’s no need to visit the bank.

The first step in applying for a mortgage is calculating the terms using an online calculator. This service helps determine the amount of your monthly payment based on key parameters (property value, down payment, loan term). It allows you to estimate the financial burden and plan your budget effectively. Let’s take a look at which parameters the mortgage calculator considers and how to calculate payments when purchasing property in Kazakhstan.

Location of the Property

The location determines the down payment amount and the cost of the property.

Under the #OnlineMortgage program, with officially confirmed income and a down payment of 20% of the property value, the maximum property price is as follows:

• for Astana and Almaty — 50 million tenge;
• for Shymkent, Karaganda, Aktau, Atyrau, Aktobe, Ust-Kamenogorsk — 45 million tenge;
• for other regions — 30 million tenge.

If the borrower contributes more than 30% as a down payment, there are no restrictions on the property price.

Property Value

The value of the property being purchased determines the amount of the mortgage loan. The higher the property price, the more borrowed funds are required.

Down Payment

To calculate a mortgage using the online calculator, you also need to specify the down payment amount. Mortgage programs typically cover up to 80% of the property value. Accordingly, the client must provide an initial payment of at least 20%. The higher the down payment, the less borrowed money will be needed.

Interest Rate

The interest rate is one of the most important parameters in the calculation, as it determines the annual overpayment for using the loan. The rate depends on the down payment: the larger the down payment and the shorter the loan term, the lower the interest rate.

Let’s look at the example of the #Online Mortgage program. If the down payment is at least 20% and the loan term is up to 10 years, the interest rate is 19% per annum (APR 21.1%). If the same down payment is made but the loan term is extended to 15 years, the rate increases to 19.5% per annum (APR 21.6%). If the client contributes more than 50% of the property value and the loan term is 10 years, the rate drops to 18% per annum (APR 19.9%). For a 15-year term with the same down payment, the rate is 19% per annum (APR 21%).

Loan Term

Under the program from Bank CenterCredit, the loan term ranges from 3 to 15 years. The longer the term, the lower the monthly payments. That’s why most borrowers opt for long-term mortgage plans.

Additional Income Verification

The online mortgage calculator in Kazakhstan allows for indirect income verification. You should check the “Additional income verification” box if your income is calculated without considering pension contributions. In this case, the bank will base its decision on supplementary income.

Interest rates with indirect income verification will be higher — up to 21.25% (APR 23.8%).

Loan Repayment Method

The mortgage calculator in Kazakhstan allows you to choose the type of payment — annuity or differentiated:

1. With the annuity method, monthly payments remain the same throughout the entire loan term. Initially, a larger portion goes toward interest, while the principal is smaller. Over time, this ratio shifts. However, the borrower does not notice these changes because the total monthly amount stays fixed. In other words, each month the borrower repays both the principal and the interest.
2. Differentiated payments also involve regular payments, but the initial payments go mainly toward interest, and later toward principal repayment.

Calculation Example

Suppose you want to buy a resale apartment in Astana using the #Online Mortgage program. This program applies to buildings constructed before 1960 and has no restrictions on the size of the property. You find a 3-room apartment in a brick building from 1975 priced at 25 million KZT. You are ready to make a 30% down payment. How do you fill out the mortgage calculator to estimate your monthly payment in KZT?

1. Property location: Astana.
2. With additional income verification: No.
3. Property price: 25,000,000 KZT.
4. Down payment (30%): 7,500,000 KZT.
5. Loan term: 120 months (10 years).
6. Repayment method: Annuity payment.

The system will automatically determine the interest rate (19%), calculate the loan amount (17,500,000 KZT), and estimate the monthly payment. In this case, the borrower would need to pay 326,677 KZT each month.

The calculator provides approximate figures for informational purposes only. It helps you assess your financial capability.

To apply for a mortgage, click the “Submit Application” button. First, you’ll receive preliminary approval. Then log in to internet banking, enter details about the property and the seller, and wait for the final decision from the bank. If approved, you’ll sign the documents using your digital signature — and that’s it: the bank will transfer the funds to the seller, and you can collect the keys to your new home.

Benefits of the #Online Mortgage Program

• The online mortgage requires only an identity document — there is no need to collect a full set of paperwork.
• The bank does not restrict borrowers in their choice of property. The only requirement is that the building must have been constructed before 1960. The wall material can be any type: brick, block, concrete, panel, monolith, etc. The floor, area, and number of rooms are entirely up to the borrower.
• The loan application is reviewed free of charge, which helps reduce financial burden.
• The entire transaction takes place online — there is no need to visit the bank in person.

For more details or to ask questions, contact a Bank CenterCredit manager at the short 24/7 number 505 (calls from mobile phones are free).