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Understanding deposit insurance

KDIF insures all deposits of individuals

Deposit Insurance System in Kazakhstan

Understanding deposit insurance
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info@kdif.kz
Hotline: 8 800 080 10 20
Reception: 8 (727) 229 29 18

Calculate deposit insurance coverage


  • Per depositor – per bank basis
     

    Your deposits and bank accounts in each deposit insurance system member bank are protected. In the event if a bank fails, Kazakhstan Deposit Insurance Fund will reimburse the insured depositors within the following limits:

    • 10 million tenge (deposits in tenge),
    • • 5 million tenge (foreign currency deposits)

    (however within the aggregate limit of 10 million tenge extended to all deposits of one depositor in one deposit insurance system member bank)

  • The rules of calculation
     

    Attention!

    • Deposit insurance coverage is calculated on the assumption of deposit (bank account) balance inclusive of any account replenishment or cash withdrawal (including compound interest to-date)
    • Kazakhstan Deposit Insurance Fund protects individuals’ bank deposits, balances of current bank accounts and bank cards both in tenge and foreign currency. All bank accounts per depositor per bank shall be accounted for. Actual balance of account is subject to deposit insurance net of accrued interest
    • In order to calculate deposit insurance coverage for foreign currency deposits, official exchange rate established by the National (Central) Bank of the Republic of Kazakhstan valid for the date of calculation shall be applied
  • Why should the loan amounts be indicated?
     

    If a depositor has loans with the same bank, then to calculate the deposit insurance coverage due Kazakhstan Deposit Insurance Fund shall set off the total balance of deposits (bank accounts and cards) and the unsettled obligations of the depositor to the bank. Therefore, to calculate the deposit insurance coverage due in most accurate manner, these obligations shall also be accounted for

Balance of deposit including all account replenishments, cash withdrawals, and compound interest

Total of interest accrued on bank deposit (bank deposit agreement with no compound interest)

Balance of current account including accrued interest (if applicable)

Bank card balance

Balance of card account


If a depositor has loans with the same bank, then to calculate the deposit insurance coverage due Kazakhstan Deposit Insurance Fund shall set off the total balance of deposits (bank accounts and cards) and the unsettled obligations of the depositor to the bank. Therefore, to calculate the deposit insurance coverage due in most accurate manner, these obligations shall also be accounted for

Depositor’s loans with the same bank

Total of obligations due net of those already settled

Deposit insurance coverage: 123232 tenge

While suggesting that users of the www.kdif.kz website calculate the deposit insurance coverage online, Kazakhstan Deposit Insurance Fund remains compliant with the requirements of the Personal Data Protection Law of the Republic of Kazakhstan. KDIF shall transfer neither data obtained from the website users nor any statistical data to third parties. KDIF shall not collect, maintain or process data obtained from the Calculator page users. KDIF is not undertaking any commitments to process any monetary payouts based on the calculations of the www.kdif.kz users: in the event of a member bank failure, the KDIF payment obligations to reimburse any bank depositor (deposit insurance coverage) are to be calculated based on the exchange rate established by the National (Central) Bank of the Republic of Kazakhstan valid at the date of enactment of the court resolution governing the member bank’s forced liquidation (in case of a foreign currency deposit), total of compound interest and other factors as established by the regulations of the Republic of Kazakhstan governing deposit insurance. Any payment is to be made on the basis of supporting documents as established by regulations of the Republic of Kazakhstan governing deposit insurance



Deposits are covered on per depositor – per bank basis

What is to indicate?

All money deposits, including bank accounts, of one depositor (private individual) placed with one bank

What is NOT to indicate?

Money deposits (including bank accounts) of one depositor placed with other banks



KDIF protects your savings in each bank within the same deposit insurance coverage limit:

  • Tenge deposits and bank accounts per depositor per bank: up to 10 million tenge
  • Foreign currency deposits and bank accounts per depositor per bank: up to 5 million tenge

Aggregate deposit insurance coverage shall be limited to 10 million tenge extended to all deposits and bank accounts in tenge and foreign currency per depositor per bank




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