Halyk and Qazkom start new consumer lending program
Almaty, 16 November 2017 – Halyk Bank of Kazakhstan and Kazkommertsbank, its subsidiary announced about launching of the new consumer lending program, which is composed of two components – Halyk Light and Homebank Orange and ensures possibility of purchasing goods in installments.
Any Kazakhstan resident can become a participant of Halyk Light program, by issuing a special card for purchasing goods in installments without extra fees, under 0% per annum, in the partnership network of Halyk Bank. Even today this network has over 500 stores, which offer a wide assortment of goods under different brands: clothing for entire family, equipment, home appliances and many others. Installment periods can be selected individually – 3, 6, 9 or 12 months, depending on conditions of partner stores. Maximum limit shall be KZT 300 ths. and established individually for each holder of Halyk Light card, depending on scoring outcomes.
Additional benefits of Halyk Light are that such card for purchases in installments shall be issued for free during 15 minutes in Halyk Bank offices. In addition, by launching the new product, Halyk Bank announces the following campaign «Сashback 3% for each Halyk Light participant». Under this campaign, the holders of Halyk Light card will be provided with the guaranteed bonuses in the amount of 3% of each purchase amount during the first month after activation of the card. This campaign shall continue till 28 February 2018 inclusive.
«We are trying to extend the Halyk Group’s share in the consumer lending market due to launching of new interesting products for our clients, – says Marat Almenov, Deputy CEO of JSC Halyk Bank of Kazakhstan – By developing the «installment program», we collaborated with Qazkom, our subsidiary bank under the unique lending program, but covering two components at a time. It was critical for us to cover different target segments of our banks’ clients, provide them with the more extensive choice for affordable lending».
The second component of the consumer lending program – Homebank Orange – has been designed for holders of Kazkommertsbank credit cards and envisages acquisition of goods in installments at Homeshop.kz, online store. Initially, the clients shall be provided with access to 5 ths. home appliances, audio- and video electronic devices, mobile gadgets and etc., which can be purchased under the loan without any extra fees, i.e. under 0% per annum and net of any fees.
The goods can be paid in two ways – by using a regular debit (payroll) card of any bank, or in installments, by using the credit card of Qazkom. In the second case, the goods shall be paid in a lump sum, due to the bank’s loan proceeds, whereupon the client may independently choose the most comfortable loan repayment period – 3, 6, 9 or 12 months.
«We decided to avoid «creating of a bicycle», instead we just took into account the market trends, consumer preferences and successful global experience and proposed a comfortable financial instrument to our clients, which will help them to avoid extra payments, overloading of the family budget, but make necessary purchases with comfort», – said Nurlan Zhagiparov, Managing Director of Qazkom.
Initially, the partner stores of Astana and Almaty will participate in this program. By taking into account the wide use and popularity of Halyk Bank and Qazkom cards (every second card payment in the country), in 2018 the program authors are planning to ensure availability of Halyk Light and Homebank Orange services in all Kazakhstan cities. Concurrently, the number of goods proposed in installments at Homeshop.kz, will be increased up to 50 ths.
Information on Halyk Group
Halyk Group, which is composed of Halyk Bank, Qazkom and Altyn Bank, is the 3-rd largest private financial group in CIS on assets. This is a leading financial group in Kazakhstan, which operates in different segments, including Retail Banking, SME and Corporate Banking, Instruments, Leasing, Brokerage and Asset Management. Halyk Group is also represented in Georgia, Kyrgyzstan, Tajikistan and Russia.
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