Deposit Banking

‘Treasurer’ deposit

Deposit period is one day and above. This deposit allows for an efficient management of temporarily redundant cash balance with an opportunity of a partial withdrawal from the deposit. The interest is accrued for the actual number of days of the placement. The interest rate is tailored for each depositor.

‘Basis’ deposit

Deposit period is between 1 and 36 months. The interest is paid out at the end of the deposit contract. This deposit does not allow for additional contributions or partial withdrawals.

‘Formula of Success’ deposit

Deposit period is between 1 and 12 months. This deposit does not allow for additional contributions or partial withdrawals. The interest is paid out at the end of each month. If the depositor terminates this deposit before its maturity and the actual placement of deposit is below one month, the deposit is returned without an interest. If the depositor terminates this deposit before its maturity and the actual placement of deposit is above one month, the deposit is returned and the interest is recalculated based on the on demand interest (o/d interest) effective in the Bank as of the cancellation date and the excess is deducted from the deposit. If the depositor terminates this deposit ahead of schedule, the amount of earlier deducted recalculation tax is not be recomputed.

‘Progression’ deposit

The interest rate grows on a monthly basis and the accrued interest is calculated for each full month at the rates of relevant interim periods. The depositor can request the amount of deposit at any time without a loss of an interest for each full month of placement. As a mandatory requirement the deposit shall be placed for at least three months before it is cancelled. This deposit does not allow for additional contributions or partial withdrawals. The interest is paid out at the end of the deposit contract.

‘Luxe’ deposit

Deposit period is between 1 and 12 months. The interest is paid for the entire period of placement when the money is placed on a term deposit. This deposit does not allow for additional contributions or partial withdrawals.

‘Corporate’ deposit

This deposit with a period between 1 and 36 months offers higher interest rates. But it does not allow for additional contributions or partial withdrawals. The interest is paid at the end of the deposit contract for the entire period of placement.

‘Moneybox’ deposit

Deposit period is between 6 and 12 months. The interest is paid at the end of the deposit. This deposit does not allow for additional contributions or partial withdrawals.

Deposits in escrow are compulsory in compliance with the existing laws. The effective interest rate shall not exceed the o/d interest.

‘Guarantee’ deposit

The deposit serves as a security of the depositor to discharge his obligations under a guarantee agreement at the rate not higher than the o/d interest.

‘Workforce’ deposit

In compliance with the existing laws of Kazakhstan, a guarantee fee shall be deposited for imported workforce in order to ensure the return of expatriates to their countries of domicile. This deposit can be opened subject to a permit from the Ministry of Labor and Social Protection of the Population.

‘Tender’ deposit

This deposit serves as a security for companies that participate or plan to participate in tenders and bids for delivery of products or services.

‘Tax’ deposit

If you are a non-resident of Kazakhstan and gain income from activities in Kazakhstan, in compliance with the existing laws of Kazakhstan and international conventions signed by Kazakhstan you can deposit the amount of tax on income from activities in Kazakhstan in order to avoid double taxation.

The Bank maintains this deposit until the tax authorities allow you to receive the amount of the deposit and accrued interest.

Escrow Saving deposit

This deposit is compulsory for extractive companies that act as subsoil users and in compliance with the existing laws must create an abandonment fund in case of field development (abandonment fund of a subsoil user). The deposit is opened in pursuance of the Edict of the President of the Republic of Kazakhstan “Mineral Resources and Subsurface Use.”