Notification of the customer - individual, who concluded a bank account agreement and (or) a bank deposit agreement
1. Hereby Subsidiary JSC VTB Bank (Kazakhstan) (hereinafter referred to as the Bank) informs you about its participation in the mandatory deposit insurance system, for the certification of which the Bank was issued a certificate No.040 dated June 18, 2009.2. Following the Law of the Republic of Kazakhstan "On Mandatory Guaranteeing of Deposits Placed with the Second-Tier Banks of the Republic of Kazakhstan" (hereinafter referred to as the Law) your deposit* is subject to mandatory deposit guarantee.
3. According to the Law, the maximum (limit) amount of the guarantee is:
• 20 million tenge on savings deposits in national currency;
• 10 million tenge on other deposits (except for savings deposits) in national currency;
• 5 million tenge on deposits in foreign currency.
If several deposits of different types and currencies are placed with the Bank, the aggregate balance amount on all deposits shall be guaranteed, but at most, the maximum amount of guarantee compensation – 20 million tenge, taking into account the limits for each type of deposit.
Please note that the amount of guarantee compensation payable is calculated on the date of withdrawal of the Bank's license, based on the number of balances on the deposit, taking into account accrued interest, and is determined by the results:
1) offsetting the amount of your debt to the Bank, for example, on the loan;
2) recalculation of the balance amount on the deposit in foreign currency into tenge at the market exchange rate;
3) calculation of the aggregate amount of guarantee compensation taking into account the amounts of balances on other deposits with the Bank, different in types and currency.
Note that the name, type, currency and other conditions of your deposit, including the maximum (limit) amount of the guaranteed compensation established by the Law, shall be specified in the application or other document signed by you at the conclusion of the bank account agreement and (or) bank deposit agreement between the Bank and you, including in electronic form.
4. In case of deprivation of the Bank's license to carry out all banking operations Kazakhstan Deposit Insurance Fund JSC (hereinafter referred to as the KDIF) starts to pay guarantee indemnity on your deposit within 35 working days from the deprivation of the Bank's license.
The announcement by the KDIF on the beginning and procedure for payment of the indemnity, as well as on the agent banks paying the indemnity, the period and places of payment or delay at the beginning of payment of the indemnity in the case stipulated by the Law, is published in periodicals distributed throughout the Republic of Kazakhstan (Yegemen Kazakhstan, Kazakhstankaya Pravda), as well as in other media and on the internet site of the KDIF (www.kdif.kz).
The starting date for payment of the indemnity shall be at most five working days from the date of publication of the said announcement by the KDIF.
5. The indemnity period is one year from the start date of the indemnity. You have the right to apply to receive the indemnity:
to the KDIF electronically via the KDIF e-payment portal or the e-government web portal, or
to an agent bank selected from the list of agent banks on paper.
The guarantee indemnity is paid within five working days from the date of your submission of an application for the payment with supporting documents. You can find the application forms and supporting documents on the KDIF's website (www.kdif.kz).
The KDIF's notification of the deadline for payment of the indemnity is published 30 working days before the deadline in periodicals distributed throughout the Republic of Kazakhstan (Yegemen Kazakhstan, Kazakhstankaya Pravda), as well as in other mass media and on the KDIF's website (www.kdif.kz).
6. Upon expiry of the term for payment of the guarantee indemnity (1 year from the start date of payment), the unclaimed amount of the guarantee indemnity shall be transferred by KDIF to your individual pension account for accounting of voluntary pension contributions, opened in United Accumulative Pension Fund JSC (hereinafter referred to as the UAPF) in the manner prescribed by the pension provision legislation of the Republic of Kazakhstan. The conditions for transferring the unclaimed amount of the guarantee compensation to the UAPF are stipulated in paragraph 2 of Article 21-1 of the Law.
7. According to the Law, if there is a valid reason that has prevented you from applying within the payment period, you are entitled to submit a written application for the indemnity with supporting documents to the KDIF (even if the KDIF has transferred the unclaimed amount to the KDIF). The list of valid reasons is set out in paragraph 4 of Article 21-1 of the Law. However, such application may be made before the final liquidation of the Bank or before you become entitled to pension payments from voluntary pension contributions following the Law of the Republic of Kazakhstan "On Pension Provision in the Republic of Kazakhstan".
*money in bank accounts evidenced by a bank account agreement and/or a bank deposit agreement