Which bank offers the highest returns when used for utility bill payments?
Battling soaring costs and a sensitive family budget, inflation in Kazakhstan has surged, reaching 11.3% in May 2025 (previously standing at 10.7%). Consequently, services have skyrocketed by 16%, food products experienced a 9.6% increase, and non-food products rose by 9%. According to Ranking.kz, food and non-alcoholic beverages, and housing services contributed the most to the annual inflation rate (3.8 percentage points and 1.8 percentage points, respectively) - a clear indication of the most aggressive price hikes in housing services.
Recent studies by Ranking.kz reveal that housing-related services have seen the sharpest increase. By comparing May 2025 to the same month last year, some astonishing facts emerge: tariffs for cold water have escalated by 97.6%, for wastewater by 25.1%, for central heating by 19.2%, for gas transported through distribution networks by 15%, for hot water by 14.5%, for electricity by 11.2%, and for housing maintenance fees by 10.7%.
Due to the significant surge in these 'communal' expenses, Ranking.kz launched an investigation to improve Kazakhstan's living conditions by examining bank promotions for compensating citizens during the inflationary period. Their findings? ForteBank emerges as the clear winner, offering a mind-blowing 10% cashback or bonuses for payments made in the "Payments" section, specifically for "Communal Services" and "Phone, Internet, and TV" categories. This covers all regions, elevators, security agencies, you name it!
Considering the overall communal services increase of 15.7%, the appealing 10% cashback/bonuses is a much-needed respite for the Kazakhstani public.
It's no surprise that ForteBank reigns supreme in this race, boasting a substantial lead when it comes to cashback or bonuses - particularly for communal services.
ForteBank Communal Services Rating Bake Can't pay for gas
One happy user, Sneg, has joined the ForteBank bandwagon and enjoys its features like Apple Pay, cashback, and free transfers to other banks - although Sneg hasn't delved into Forte Market yet.
Kuzia assures us that this isn't an ad.
But wait! What about Home Credit, you ask? While ForteBank dominates the cashback scene, Hamm brings up Home Credit, which offers a 10% cashback on initial purchases for the first three months following new account opening, and then 5% cashback. Caspiy Bank and Halyk Bank also enter the chat, with Halyk Bank charging 200 tenge for each money transfer.
It's crucial to remember that these offers can change over time, so it's always best to consult with the customer service departments or visit the official bank websites for the most accurate and up-to-date information on cashback offers for communal services. Happy savings!
Personal finance and business scenarios in Kazakhstan have been largely influenced by the surging inflation, with housing-related services experiencing the sharpest increase. In response, ForteBank offers a competitive edge, providing a 10% cashback or bonuses for payments made in the "Communal Services" category, providing significant relief to the public amidst a 15.7% increase in communal services.
