10% compensation on deposits in tenge
Deposits of individuals opened with Halyk Bank participate in the National Bank of Kazakhstan and Government of the Republic of Kazakhstan Tenge Deposit Protection Program. This program provides for compensation of 10% on deposits of individuals.
Preliminary terms of the Program
One of the mandatory terms for receiving compensation is a valid deposit as of the end of day on 23 February 2022, with this deposit extending to 24 February 2023 (excluding demand deposits and contingent deposits).
To receive compensation, you must not close or make a full withdrawal from your existing deposits between 24 February 2022 and 23 February 2023. You may withdraw money from your deposit, but the premium will be calculated on the minimum balance for that period.
- Deposits for which the agreement expires before 24 February 2023 will be prolonged until the Program end date.
- If the deposit is closed before 24 February 2023, the individual will automatically be excluded from participation in the Program.
- Compensation (premium) in the amount of 10% is accrued to one individual once for all deposits.
- Actual amount of the deposit shall not exceed KZT 20 million following 12 months from the start of the Program.
- Premium is not subject to individual income tax.
- The compensation will be credited to a current or card account of an individual, linked to the bank deposit agreement.
The approved terms of the Program will be reflected on the Bank's website additionally after the adoption by the Government of the Republic of Kazakhstan of the relevant normative legal act
Examples of premium calculation
Example No.1
The amount on your deposit at the end of the day on 23 February 2022 was KZT 500,000. During the year, you made partial withdrawals from the deposit and the minimum amount of the deposit balance was KZT 100,000. The premium will be calculated based on the lowest deposit amount for the period from 24 February 2022 to 23 February 2023.
You will receive a 10% bonus of KZT 100,000, which will amount to KZT 10,000.
Example No.2
The amount of your deposit at the end of the day on 23 February 2022 was KZT 500,000. During the year, you made partial withdrawals and replenished the deposit, the amount of your deposit as of 24 February 2023 was KZT 800,000.
You will be awarded a 10% premium on the minimum balance including partial withdrawals made during the period from 23 February 2022 to 23 February 2023.
Example No.3
If you have several deposits of KZT 30 million.
The premium will be calculated on the total amount of deposits of KZT 20 million, and no premium will be charged for KZT 10 million.
Frequently Asked Questions
On deposits of individuals in tenge except for demand deposits and contingent deposits.
To participate in receiving compensation, the mandatory term is a deposit of an individual in tenge, valid as of 23 February 2022 and keeping this deposit valid until 24 February 2023.
Yes, you can. It is important to note that the 10% bonus is paid on the minimum balance including partial withdrawals made between 23 February 2022 and 23 February 2023.
Example:
As of 23 February 2022, the customer of Halyk Bank has a valid deposit in tenge in the amount of KZT 1,000,000.
On 24 February 2022, the customer makes a partial withdrawal from the deposit in the amount of KZT 500,000.
On 25 December 2022, the customer replenishes the deposit in the amount of KZT 700,000.
As of 23 February 2023, the balance of the deposit amounted to KZT 1,200,000, a premium of 10% will be awarded on the minimum balance in view of the partial withdrawals made, that is, in the amount of KZT 500,000.
Agreements for which there is no prolongation provided for or the third prolongation expires, will be automatically prolonged.
No, you don't need to. The premium will be credited to a current or card account linked to the bank deposit agreement.
Yes, the premium will be accrued.