Questions and Answers on Compensation
An additional single-time bonus from the state to tenge deposit holders.
The amount of the bonus is 10%, but not more than 2,000,000 tenge per depositor.
The payment is calculated on the deposit balance as of 23:59 on February 23, 2022.
The compensation is calculated on February 24, 2023 for the smallest amount on deposit within 12 months from February 23, 2022 to February 24, 2023.
The maximum amount of all deposits per depositor for the calculation and payment of compensation is 20,000,000 tenge.
If the deposit is closed after February 23, 2022, then this deposit is not subject to compensation.
Partial withdrawals from the deposit automatically reduce the amount for calculation and payment of compensation.
A prerequisite for receiving a deposit bonus is to keep the deposit until 24 February 2023. At that, the amount that was on the deposit at the end of the day on 23 February 2022 will be taken into account. Partial withdrawals from the deposit automatically reduce the amount for calculation and payment of compensation.
The amount of the bonus (compensation) is calculated on the smallest amount of the deposit within 12 months from February 24, 2022 to February 23, 2023.
Example 1:
The amount of the deposit at the end of the day on February 23, 2022 is 100, 000 tenge.
On February 25, 2022, the client withdrew 50,000 tenge. After that, the client added the deposit with 100, 000 tenge.
The smallest amount in the period from February 24, 2022 to February 23, 2023 was 50,000 tenge. The client is awarded a 10% premium for 50,000 tenge, and the bonus is 5,000 tenge.
Example 2:
The client has several deposits in the amount of 25,000,000 tenge.
In this case, compensation is accrued for 20,000,000 tenge, and compensation is not accrued for 5,000,000 tenge.
On term (Turbo Deposit, Turbo Kazpost Deposit, cancelled deposits (excepting Eurasian Children’s) and savings deposits (Turbo Deposit Saving) in tenge.
The program does not apply to current and card accounts, as well as demand deposits and conditional deposits.
No, the premium will be accrued only on deposits in tenge.
The bonus will be accrued on all deposits valid as of 11:59 p.m. on 23 February 2022. The maximum amount for which the bonus will be accrued is no more than 20 million tenge.
The deposit should be extended.
The calculation will be carried out for the balance as of 24 February 2023.
The estimated payment period is March 2023.
If the terms of the deposit provide for partial withdrawal, then you can withdraw money. At the same time, partial withdrawals from the deposit automatically reduce the amount for calculation and payment of compensation.
If the deposit conditions provide for replenishment, then you can replenish the deposit. However, when paying compensation, the smallest amount of the deposit is taken into account during the 12 months from 24 February 2022 to 23 February 2023.
Yes, but then the compensation for the closed deposit is not paid.
No, if the deposit is closed, then it does not participate in the compensation.
The bonus is tax-free.
The Rules for payment of compensation (bonus) on deposits of individuals placed in national currency (tenge) No. 614 dated August 27, 2022 (hereinafter – the Rules). The effective date is September 12, 2022.
The amounts of compensation (bonus) is credited by the Bank to the current bank accounts of depositors. To do this, when submitting an application to the Bank, a current account is opened for you to receive compensation. This current account should not be closed until the amount of compensation is credited.
You need to submit a consent application to the Bank.
According to clause 7 of the Rules, compensation (bonus) is paid to depositors who submitted their consent application. Depositors who did not submit the consent application to the Bank before January 1, 2023, compensation (bonus) is not paid.
From 12.09.2022 to 01.01.2023. Depositors who did not submit the consent application to the Bank in time are not paid compensation (bonus).
From 12.09.2022 at the Bank Branch/Outlet, where a current account is also opened for further payment of compensation.
– through the Smartbank mobile application. The start date of the reception is announced additionally.