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«Educational» Deposit

Deposit «Educational» is the best solution for accumulation of money for education of your child!

Opening the Deposit «Educational” you are accumulating money, obtain Bank commission and state bonus.

Currency of the deposit – Tenge.

Minimal amount of the deposit – 3 MCI (Monthly Calculation Index), established for a relevant financial year by the Law of the Republican budget (1 MCI – 2 525 Tenge for 2019).

Term of the deposit – 36 months.

Payment of the commission under the deposit – Payment of the commission under the deposit “Educational” is made by monthly capitalization of the accrued commission.
Replenishment of the deposit amount – You may replenish the deposit amount by making additional contributions in any periodicity.

Partial disposal of the deposit amount – It is not contemplated, except for cases of purposeful disposal of funds by cashless transfer for the account of an educational institution.
Prolongation of the Savings Account Agreement – In case if the deposit amount is not obtained on demand on the date of completion of the deposit term, established by the savings account agreement, then the savings account agreement is prolonged for the same term and under the same conditions, except for the rate of the commission under the deposit, which is established at the rate, existing in the Bank for this type of the deposit on the date of prolongation of the savings account agreement.

Accrual of the state bonus – Annually for the actually accumulated balance as of 1 January with the minimal term of accumulations of 1 year. The state bonus is capitalized to the principal amount of the deposit. The maximum term for accrual of the state bonus is 20 years.

Size of the state bonus – 5% per annum, but not more than 100 MCI,

for a priority category of depositors* - 7% per annum, but not more than 100 MCI.

 

Obtaining of the educational credit – not contemplated.

Conditions of premature cancellation – in case of premature cancellation of the savings account agreement upon the initiative  of the depositor/legal representative, the Bank pays out the principal amount of the deposit and accrued commission for the actual number of days of the deposit, at the rate not lower the nominal rate within 5 (five) working days from the date following the date of receiving a written statement of the depositor, except for cases, contemplated by the requirements of the laws of the Republic of Kazakhstan and Bank Deposit Agreement. 


  Currency 

  Period of the deposit in months 

 Size of the commission

(% per annum)

  Size of the AERR**  

(%per annum)

KZT

36

6,0

6,2

 * The following persons belong to the priority category of depositors:

- orphan children and children, who were left without custody of parents, including those, who attained majority, but not more than till attaining 23 years;

- disabled;

- children from multi-child families, who have 4 and more jointly living under-age children, including children, who study full-time (in organizations of secondary, technical and professional, after-secondary, higher and postgraduate (Master’s degree program) education), after attaining majority, but not more than till attaining 23 years;

- children from families with an average income lower the cost of the food basket.

** AERR – Annual effective rate of return.

Advantages of the Deposit “Educational”:

-  possibility to obtain the state bonus in addition to the Bank commission;

- possibility to transfer from the Deposit to the open/being opened educational accumulation deposit in favor of the third person;

-  in case of obtaining the educational grant by the depositor, there is the possibility to direct the funds of the educational accumulating deposit for payment of educational services in order to obtain other levels of education or obtain funds of the educational accumulating deposit with the capitalized Bank commission and accrued state bonus.

The Deposit “Educational” is the object of compulsory guaranteeing deposits of physical persons. 

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