Articles · Concessional loans
Concessional vs standard loan: how much extra you pay
How much more a business pays on a standard loan at 24% than on a concessional loan at 12.6%: figures for ₸50–300 million, the Orleu and Isker Aimak programs, and what to do before applying.
Dala Capital · updated 5 October 2026 · 4 min read
The difference between 24% and 12.6% a year looks like just a number in the contract. But over several years it adds up to tens of millions of tenge the business could have kept. Let’s calculate with real amounts.
At a glance
- A ₸100 million loan over 7 years at 24% costs a business about ₸107 million in interest; at 12.6% about ₸51 million.
- The 12.6% rate comes from Damu Fund programs: Orleu for micro, small and medium businesses in priority sectors, Isker Aimak for micro and small businesses.
- A concessional loan takes more preparation: the right program and bank, calculations based on actual figures, and a solution for collateral.
How we calculated
We take a standard annuity loan with the same payment every month. The extra cost is the sum of all interest on top of the loan itself. The standard business loan rate is 24% a year; the state program rate is 12.6%. Actual terms depend on the bank and the program, so the calculation is indicative.
A 100M ₸ loan over 7 years
- Standard loan at 24%: payment ≈ 2.47M ₸ a month, total interest ≈ 107M ₸
- Concessional program at 12.6%: payment ≈ 1.80M ₸ a month, total interest ≈ 51M ₸
- The difference is about 56M ₸, or ≈ 670k ₸ every month
With a standard loan, over 7 years the business pays the bank more in interest than it borrowed. With the concessional program the interest is half as much.
Other amounts and terms
- ₸50 million over 5 years
- Interest at 24%≈ ₸36 million
- Interest at 12.6%≈ ₸18 million
- Difference≈ ₸19 million
- ₸100 million over 5 years
- Interest at 24%≈ ₸73 million
- Interest at 12.6%≈ ₸35 million
- Difference≈ ₸37 million
- ₸100 million over 7 years
- Interest at 24%≈ ₸107 million
- Interest at 12.6%≈ ₸51 million
- Difference≈ ₸56 million
- ₸300 million over 5 years
- Interest at 24%≈ ₸218 million
- Interest at 12.6%≈ ₸106 million
- Difference≈ ₸112 million
- ₸300 million over 7 years
- Interest at 24%≈ ₸322 million
- Interest at 12.6%≈ ₸153 million
- Difference≈ ₸169 million
| Loan | Interest at 24% | Interest at 12.6% | Difference |
|---|---|---|---|
| ₸50 million over 5 years | ≈ ₸36 million | ≈ ₸18 million | ≈ ₸19 million |
| ₸100 million over 5 years | ≈ ₸73 million | ≈ ₸35 million | ≈ ₸37 million |
| ₸100 million over 7 years | ≈ ₸107 million | ≈ ₸51 million | ≈ ₸56 million |
| ₸300 million over 5 years | ≈ ₸218 million | ≈ ₸106 million | ≈ ₸112 million |
| ₸300 million over 7 years | ≈ ₸322 million | ≈ ₸153 million | ≈ ₸169 million |
Work out your own amount, term and bank rate in the loan calculator: it shows the payment, total interest and the monthly schedule.
Where to get a concessional loan at 12.6%
The concessional rate comes not from individual banks but from state programs that banks implement. In 2026 the main ones are Damu Fund programs:
- Orleu — a borrower rate of no more than 12.6% a year, up to ₸7 billion for investment and up to ₸3.5 billion for working capital, for priority sectors.
- Isker Aimak — up to ₸200 million for micro and small businesses; the state subsidises 40% of the rate for up to 3 years, and the borrower’s rate is no lower than 12.6%.
- Fund guarantee — if collateral falls short, the fund can guarantee part of the loan, up to 85% of the amount.
The overall picture — who provides the money, who decides and what documents are needed — is in Damu loans in 2026.
Why not everyone uses concessional loans
State programs require more preparation: the right program and bank, calculations that match the financial statements, a solution for collateral. Many owners try once, get an unexplained refusal and take a standard loan, overpaying tens of millions.
What to do before taking a standard loan
- Check whether the business and the loan purpose meet state program terms
- Work out what amount the business can service comfortably
- Solve the collateral question: what can be pledged and whether the fund can guarantee part of the loan
- Prepare a business plan and calculations for the specific program
Questions about concessional loans
What is the concessional business loan rate in 2026?
Under Orleu — no more than 12.6% a year. Under Isker Aimak the state subsidises 40% of the bank rate, but for the borrower it is no lower than 12.6%.
Who can get a concessional loan?
Micro, small and medium businesses — LLPs and sole proprietors — if the sector and loan purpose fit the program terms and the business can show where repayments will come from.
Can a standard loan be switched to a concessional one?
Under Orleu, loans issued no earlier than 1 December 2025 can be refinanced if the project meets the program terms.
Why does a concessional loan take longer?
Both the bank and the fund review the project: program eligibility, sector, purpose, counter-obligations. Usually about six weeks pass from the first conversation to the bank’s decision.
Indicative calculation. The final rate and terms are set by the bank or the program. Rates as of October 2026.