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Questions and answers regarding the procedure for calculating the amount of warranty compensation

Question No. 1: For what types of deposits is the guarantee increased?

Answer: The new changes affected only savings deposits in tenge.

Savings deposits with terms of 3, 6, 12 and more than 12 months are now available on the market.

Question No. 2: Does the new guarantee apply only to savings deposits in tenge opened after January 11, 2022 (the date the law came into effect)?

Answer: The KDIF guarantee in the amount of 20 million tenge applies to all currently existing savings deposits in tenge opened in banks participating in the deposit guarantee system, both before and after January 11, 2022.

Question No. 3: Have the maximum amounts of guarantee compensation for other types of deposits changed?

Answer: The maximum amount of the guarantee depends on the type and currency of the deposit.

Question No. 4: According to the new changes, the maximum amount of the total amount of guarantee compensation has increased to 20 million tenge.

Answer: The total amount of guarantee compensation is paid for several types of deposits of a depositor opened in one bank, and is calculated taking into account the limits of the maximum amount of guarantee compensation established for each type of deposit separately.

Example 1: If a depositor has two savings deposits in tenge in a bank for a total amount of 22 million tenge.

Answer: In this case, the total amount of guarantee compensation will be 20 million tenge.

Example 2: If a depositor has three different types of deposits in a bank: a savings deposit in tenge in the amount of 5 million tenge, a non-term deposit in tenge in the amount of 10 million tenge and a deposit in foreign currency in the amount equivalent to 5 million tenge.

Answer: In this case, the amount of the total guarantee compensation will be 20 million tenge.

Example 3: If a depositor has 15 million tenge on a regular (non-savings) deposit in tenge and he opened a savings deposit in tenge in the same bank for a minimum amount - for example, 1000 tenge - will the total guarantee amount increase to 20 million tenge?

Answer: No, in the case under consideration, the amount receivable will be 10,001,000 tenge.

Example 4: A depositor has three deposits in one bank: one universal (non-term in tenge), which is often replenished and withdrawn as needed.

Answer: The total amount of guarantee compensation is calculated taking into account the limits of the maximum amount of guarantee compensation established for each type of deposit separately:

Payment of guarantee compensation for guaranteed deposits is made in the national currency of the Republic of Kazakhstan.

In relation to this case, the depositor will receive a total amount of guarantee compensation in the amount of 19,500,000 tenge: 14 million tenge - for a savings deposit in tenge, 500 thousand tenge - for a non-term deposit in tenge, as well as for an account in foreign currency - 5 million tenge (since 13 thousand US dollars at the exchange rate is more than 5 million

Example 5: If a depositor has two different non-savings deposits in a bank: a non-term deposit in tenge in the amount of 16 million tenge and a deposit in foreign currency in an amount equivalent to 6 million tenge.

Answer: In this case, the amount of the total guarantee compensation will be 15 million tenge: for a non-term deposit in tenge - 10 million tenge and for a deposit in foreign currency - 5 million tenge.

Question No. 5: The investor had a savings deposit in tenge worth 20 million tenge.

Answer: From January 1, 2020, the deposit interest accrued on the date of deprivation of the bank’s license is covered by the KDIF guarantee.

Question No. 6: Will the amount of guarantee compensation be revised for those who have already received payment?

Answer: The new amount of guarantee for savings deposits, as well as the total amount of guaranteed compensation, applies to new insured events, i.e.

Question No. 7: What is the current situation regarding the payment of warranty compensation?

Answer: To date, KDIF continues to make payments to depositors of 9 banks that have been deprived of a license to conduct all banking operations and are in the process of forced liquidation. https://kdif.kz/likvidiruemye-banki/table/

Question No. 8: What is the maximum amount of guarantee compensation for depositors of these 9 banks?

Answer: The maximum amounts of guarantee compensation for the specified banks, which were in force in the law on the date of the insured event, remain unchanged: