Q: What is TurboMoney (aFinance)?

TurboMoney is the consumer-facing brand of aFinance microfinance organization LLP (ТОО «МФО аФинанс»), a digital microfinance institution operating in Kazakhstan. The organization specializes in providing short-term online microloans to individuals across the country. TurboMoney operates as a fully digital lending platform, enabling customers to apply for, receive, and repay microloans entirely online without visiting a physical office. The company is regulated by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets (ARDFM). TurboMoney focuses on serving customers who need quick access to small amounts of credit for urgent personal needs.

Question 1

What is TurboMoney (aFinance)?

Accepted Answer

TurboMoney is the consumer-facing brand of aFinance microfinance organization LLP (ТОО «МФО аФинанс»), a digital microfinance institution operating in Kazakhstan. The organization specializes in providing short-term online microloans to individuals across the country. TurboMoney operates as a fully digital lending platform, enabling customers to apply for, receive, and repay microloans entirely online without visiting a physical office.

The company is regulated by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets (ARDFM). TurboMoney focuses on serving customers who need quick access to small amounts of credit for urgent personal needs.

Question 2

When was TurboMoney (aFinance) founded?

Accepted Answer

aFinance microfinance organization LLP received its microfinance license №02.21.0023.M on March 12, 2021, from the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets. The company officially began its lending operations under the TurboMoney brand in 2022.

The organization was established to address the growing demand for quick, accessible credit solutions in Kazakhstan, particularly for individuals who may not qualify for traditional bank loans or need funds more urgently than banks can provide.

Question 3

Where is TurboMoney (aFinance) headquartered?

Accepted Answer

TurboMoney (aFinance) is headquartered in Almaty, Kazakhstan, at Tole Bi Street, 265, in the Almaly district (postal code 050005). As a digital-first microfinance organization, the company operates primarily through its online platform rather than maintaining an extensive network of physical branches.

The headquarters in Almaty serves as the administrative and operational center for the organization.

Question 4

Where does TurboMoney (aFinance) operate?

Accepted Answer

TurboMoney operates nationwide throughout Kazakhstan. The company's fully digital platform allows customers from any region of the country to access its services, regardless of their geographic location.

Customers can apply for microloans through the TurboMoney website at turbomoney.kz from anywhere in Kazakhstan with internet access. The organization explicitly markets itself as accessible "from any point in Kazakhstan," emphasizing that geographic location is irrelevant since all interactions occur online.

Question 5

What services does TurboMoney (aFinance) offer?

Accepted Answer

TurboMoney offers short-term consumer microloans with the following characteristics:
• Loan amounts: From 20,000 to 160,500 tenge (amounts may vary based on customer creditworthiness and repeat borrowing history)
• Loan terms: 1 to 30 days for short-term borrowing needs
• Interest rate: Fixed daily rate of 0.28% (GESV/APR up to 179%)
• Disbursement methods: Funds transferred to bank cards, bank accounts (IBAN), or Kazpost accounts

Digital services include:
• Fully online application and registration process through the company website
• Electronic contract signing via SMS verification codes
• Personal online cabinet for loan management and repayment
• Biometric verification for identity confirmation
• Instant loan processing with decisions typically rendered within 7-15 minutes
• 24/7 application submission (though processing occurs during business hours)

Repayment options include bank card payments (Visa and MasterCard), bank transfers, QIWI terminals, and Kassa 24 payment terminals. The organization allows early repayment without penalties.

Question 6

What makes TurboMoney (aFinance) unique?

Accepted Answer

Several features distinguish TurboMoney in Kazakhstan's microfinance market:

Minimal documentation requirements: Customers need only a valid identity document and a bank statement showing average monthly debit card transactions for the six months preceding the loan application. No collateral, guarantors, or extensive paperwork is required.

Rapid processing speed: The application review process takes as little as 7 minutes, with funds typically disbursed within one business day. Some customers report receiving funds in as little as 10-15 minutes after approval.

Digital-first approach: The entire customer journey—from application to disbursement to repayment—occurs online, making TurboMoney accessible to customers regardless of location within Kazakhstan.

Transparent pricing: The organization prominently displays its fixed daily interest rate of 0.28% without hidden fees or commissions, according to customer reviews.

Loyalty programs: Repeat customers with good repayment histories may qualify for higher loan amounts and preferential terms.

Question 7

What type of financial institution is TurboMoney (aFinance)?

Accepted Answer

TurboMoney (aFinance) is a microfinance organization (МФО/MFO) licensed under Kazakhstan's microfinance regulations. In Kazakhstan, microfinance organizations are non-bank financial institutions authorized to provide small loans to individuals and businesses under the Law of the Republic of Kazakhstan "On Microfinance Organizations."

Specifically, TurboMoney operates as a consumer microlender focusing on short-term payday-style loans to individuals. The organization is regulated by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets and must comply with specific requirements regarding loan amounts, interest rates, disclosure, and consumer protection.

Unlike universal banks, microfinance organizations in Kazakhstan have narrower permissible activities but can offer more streamlined lending processes with less stringent documentation requirements for small-value loans.

TurboMoney (aFinance)

in Kazakhstan 🇰🇿

Crypto-Friendliness

All done!

About TurboMoney (aFinance) in Kazakhstan