Kazakhstan Statutory default penalty (законная неустойка, ГК РК ст. 353)
Kazakhstan Statutory default penalty (законная неустойка, ГК РК ст. 353) is 16.75 percent, in force since 24 Jul 2026. It was 17 percent before that. Last checked against the official source on 24 Aug 2026.
Kazakhstan's statutory penalty for the unlawful use of another's money: the National Bank of Kazakhstan base rate itself, with no added margin, under Article 353 of the Civil Code. Derived live from this API's KZ policy-rate series.
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| Current value | 16.75 percent |
|---|---|
| In force from | 2026-07-24 |
| Official source | Derived from the National Bank of Kazakhstan base rate (this API's KZ policy-rate series) under ГК РК ст. 353 — the statutory penalty equals the base rate with no added margin, so it moves the day the NBK moves the base rate; NBK decision of 24 July 2026 cut the base rate to 16.75% per annum |
| Last verified | 2026-08-24 |
| Verification | derived — Computed from another series we hold, not read from any document. Computed from another series we hold (the NBK base rate, with a zero statutory margin), not read from a document. |
| Provenance | source fingerprint |
What this value means
Kazakhstan's statutory default rate is the NBK BASE RATE ITSELF — the margin is zero, unlike the EU-style 'policy rate plus 8 points' regimes. Article 353 of the Civil Code makes the penalty payable for non-performance of a money obligation, late payment, or unjustified receipt or retention of another's money, and applies to civil and commercial obligations alike. WHICH DAY'S BASE RATE APPLIES IS THE CREDITOR'S CHOICE, and this is the main trap: the default reference is the rate on the day the obligation is performed, but Art. 353(1) also lets a court, on a claim brought in litigation, apply the base rate as at the day the suit was filed, the day of judgment, or the day of actual payment — 'по выбору кредитора' (at the creditor's election). A single debt can therefore carry materially different figures depending on the date selected, so a computed number is only meaningful once the reference date is stated. FURTHER POINTS: Art. 353(2) — the penalty runs until the day the money is paid to the creditor, unless legislation or the contract sets another method. Art. 353(3) — where the creditor's actual loss exceeds the penalty, the excess is recoverable as damages, so this is a floor rather than an exclusive remedy. Art. 353 yields to a different figure fixed by legislative act or by the contract; a valid contractual penalty displaces it. The reference changed name and substance on 1 January 2021 (Law No. 399-VI): the article previously read to the NBK REFINANCING rate, and citations to a refinancing-rate calculation are now stale — the base rate (базовая ставка) is the operative reference. The base rate is set at scheduled meetings, eight in 2026 (23 January, 6 March, 24 April, 5 June, 24 July, 4 September, 23 October, 4 December); the 24 July 2026 decision cut it to 16.75% per annum, and the next scheduled decision is 4 September 2026. Derived live from this API's policy-rate series.
Earlier values
| From | Value | Source |
|---|---|---|
| 2026-06-05 | 17 | Derived from the National Bank of Kazakhstan base rate… |
| 2025-10-10 | 18 | Derived from the National Bank of Kazakhstan base rate… |
| 2025-03-07 | 16.5 | Derived from the National Bank of Kazakhstan base rate… |
Get it programmatically
curl https://asiaref.dev/v1/kz/statutory-interest
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://asiaref.dev/v1/kz/statutory-interest/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/kz/statutory-interestOther Kazakhstan series: NBK base rate (базовая ставка) · VAT standard rate (НДС) · VAT registration threshold · Minimum monthly wage (МЗП) · Public holidays · CPI inflation (year-on-year) · Corporate income tax standard rate (КПН) · Withholding tax rates · Personal income tax rates (ИПН) · Statutory social-insurance contributions · NBK official exchange rates
The same figure elsewhere: Kuwait · Malaysia · Nepal · Oman · Pakistan · all 28