Product details
| Product name | Educational savings deposit AQYL |
| Type of deposit | Deposit for education |
| Maximum (limit) amount of account guarantee (amount established by the Law of the Republic of Kazakhstan “On Mandatory Guarantee of Deposits Placed with Second-tier Banks of the Republic of Kazakhstan”) | *The deposit is insured by Kazakhstan Deposit Guarantee Fund Maximum (limit) amount of guarantee is: up to 10 million tenge in national currency |
| Currency | Tenge |
| Minimum amount for deposit opening / minimum required balance | 3 MCI |
| Accrual of state premium | Annually, on the actually accumulated balance as of January 1, with a minimum accumulation period of 1 year. The state premium is capitalized to the principal amount of the deposit. The maximum term of accrual of the state premium is 20 years |
| Amount of state premium | 5% per annum, but not more than 100 MCI; for the priority category of depositors** - 7% per annum, but not more than 100 MCI |
| Replenishment | |
| Remuneration | Monthly capitalization |
| Deposit holding period | Deposit holding period |
| Partial withdrawal | Not provided, except for cases of targeted withdrawal of funds by non-cash transfer to the account of educational institution |
| Extension | Extended for the same term and under the same conditions, with accrual of interest at the interest rate in effect on the date of extension |
| Amount of interest or procedure of its determination in case of early full/partial withdrawal of the deposit | - Without preserving the accrued remuneration and state premium in case of refusal to register the Agreement in the Unified Register of Educational Savings Deposit Agreements - Without preserving the state premium, but with preservation of the Bank's remuneration at the initiative of the depositor/legal representative in case of early termination - With preservation of the state premium is possible in the following cases: 1) In case of deposit balance after payment for educational services for the whole period of study, withdraw this amount in the participating bank with the accrued state premium 2) In case of awarding an educational grant 3) In case of death, being recognized by the court as missing, incapacitated or declared dead |
| Documents for deposit execution | Identity document with IIN; When opening a deposit in the name of an adult/underage depositor by third parties, a power of attorney from the depositor/legal representative(s) of the depositor is required |
Interest Rates for Individuals:
| Period, months: | Nominal (KZT) | Effective (KZT) | Additional features |
| 36 | 12,0% | up to 12,7% | + State premium of up to 7% |
- Rates are valid from 07.12.2024
- Rates were approved by the Assets, Liabilities and Tariffs Management Committee under the Management Board (Minutes No. 36-24 of 06.08.2024) for individuals.
| Period, months: | 36 |
| Nominal (KZT) | 12,0% |
| Effective (KZT) | до 12,7% |
| Additional features | + State premium of up to 7% |
- The rates shall be valid from 07.12.2024.
- Rates were approved by the Assets, Liabilities and Tariffs Management Committee under the Management Board (Minutes No. 36-24 of 06.08.2024) for individuals.