In case of non-payment of the loan, the Bank may levy execution against money on the borrower's bank accounts on an uncontested basis, including by submitting a payment demand (if such recovery is stipulated in the Bank Loan Contract).

Instruction

With effect from 1 October 2021, a single procedure for settlement of overdue loan debts of citizens, which is mandatory for banks, has been introduced. This procedure requires creditors to consider the borrower's application for loan restructuring based on the borrower's current solvency. Article 36 of the Banking Law outlines the following debt settlement procedure:

1. According to this procedure, within thirty calendar days from the date of occurrence of a delay in performance of obligations under a Bank Loan Contract, an individual borrower may visit the Bank and submit an application in writing or in the manner provided for by the Contract, outlining the reasons that cause the delay in fulfilling obligations, income and other confirmed circumstances (facts) that justify the debtor's application for modifications to the terms of the Bank Loan Contract.

2. Within fifteen calendar days following receipt of the individual borrower's application, the Bank shall review the proposed modifications to the terms of the Bank Loan Contract and notify in writing or by any means specified in the Contract of:

1) its consent with the proposed modifications to the terms of the Contract;

2) its proposals to modify the terms and conditions of the Contract;

3) refusal to modify the terms and conditions of the Contract with a reasoned justification for such refusal.

For any issues related to late monthly payments, you can get consultation by calling the following hotline numbers:
+7 (727)2 44 22 54, 8 (800) 080 00 88, 505.

“If the Borrower fails to perform or improperly performs its obligations under the Bank Loan Contract, the Bank may:

- charge forfeit (penalty, fine);

- levy execution against money on the Borrower's bank accounts, except for the cases provided for by applicable laws of the Republic of Kazakhstan;

- to transfer the debt for pre-trial collection and settlement to debt collection agency;

- to assign the right (claim) under the Bank Loan Contract in accordance with the provisions of the applicable laws of the Republic of Kazakhstan and the Bank Loan Contract;

- to take legal action to recover the debt under the Bank Loan Contract, and to foreclose on the pledged property on an out-of-court basis, except for the cases stipulated by the Law of the Republic of Kazakhstan “On Mortgage of Immovable Property”, or through the court;

- to apply other measures provided for by the internal regulatory document of the Bank, the current legislation of the Republic of Kazakhstan and the Bank Loan Contract”.

to the Rules for Provision of Banking Services and Consideration by Banks and Organizations Engaged in Certain Types of Banking Operations of Customer Appeals Arising During  Provision of Banking Services

If the borrower is an individual, within thirty calendar days from the date of occurrence of delay in fulfillment of the obligation under a Bank Loan Contract (the Contract), the borrower may visit the Bank and (or) submit an application, in writing or in the manner prescribed by the Contact, outlining the information on reasons that cause the delay in fulfilling obligations under the Contract, income and other confirmed circumstances (facts) that justify the borrower's application for modifications to the terms and conditions of the Contract in accordance with Paragraph 1-1, Article 36 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" (the Banking Law).

Within fifteen calendar days following receipt of the individual borrower's application provided for in Paragraph 1-1, Article 36 of the Banking Law, the Bank shall review modifications to the terms and conditions of the Contract proposed by the individual borrower and notify the individual borrower in writing or by other means specified in the Contract of:

1) its consent with the proposed modifications to the terms and conditions of the Contract;

2) its own proposals to modify the terms and conditions of the Contract;

3) refusal to modify the terms and conditions of the Contract with a reasoned justification for such refusal.

In case of receiving the Bank's decision to refuse to modify the terms and conditions of the Contract or in case of failure to reach a mutually acceptable decision to modify the terms and conditions of the Contract, within 15 (fifteen) calendar days following receipt of the Bank's decision, the individual borrower  may apply to the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market by giving a simultaneous notification to the Bank.

If the borrower fails to satisfy the Bank's request to make payments under the Contract, including overdue debt, in accordance with Paragraph 2, Article 36 of the Banking Law, the Bank may levy execution against money on the borrower's bank accounts on an uncontested basis, including by submitting a payment demand (if such recovery is stipulated in the Contract), subject to the limitations provided for by the Banking Law.

In cases when the borrower fails to satisfy the Bank's request to make payments under the Contract, including overdue debt, and if the individual borrower fails to exercise the rights provided for by Paragraph 1-1, Article 36 of the Banking Law, or the lack of agreement between the individual borrower and the Bank to modify the terms and conditions of the Contract, in accordance with Paragraph 2-1, Article 36 of the Banking Law, the Bank may apply measures against the borrower provided for by the laws of the Republic of Kazakhstan and (or) the Contract, including, but not limited to, transfer the debt for pre-trial collection and settlement to a debt collection agency (if the Bank has such right in the Contract), assign the right (claim) under the Contract to a person indicated in Paragraph 4, Article 36-1 of the Banking Law, file a court action for the recovery of outstanding debt under the Contract, and foreclose on the mortgaged property out-of-court, except for cases stipulated by the Law of the Republic of Kazakhstan "On Mortgage of Immovable Property", or through court.