Dear Clients,
JSC Nurbank is announcing the extension of the deadline for accepting applications and signing additional agreements to deposit contracts until December 1, 2015, inclusive within the framework of the Procedure for Compensating Individual Deposits in local currency (tenge), in connection with the transition to a floating exchange rate regime, as approved by the Board of the National Bank of Kazakhstan.
This Procedure regulates the conditions for compensation payments on individual deposits in tenge, provided the deposit balance at the end of the operational day on August 18, 2015, does not exceed 1 million tenge.
Which deposits are eligible for compensation?
If your deposit balance on the end of the operational day on August 18, 2015, in our bank was no more than 1 million tenge, you may participate in the compensation mechanism.
If you have multiple such deposits in our bank, all of them may participate.
What must be done to receive compensation?
You must contact us and sign a supplementary agreement before December 1, 2015, inclusive.
How to determine the amount eligible for compensation?
You conclude a supplementary agreement with the bank specifying an amount which should not exceed your deposit balance at the end of August 18, 2015. Please see the following examples:
1) if the balance at the end of August 18, 2015, was 1,000,000 tenge and your balance on the day of your application (October 15, 2015) is 200,000 tenge, you may replenish your deposit to 1,000,000 tenge; the compensable amount will not exceed 1,000,000 tenge (a lower amount can be specified);
2) if the balance at the end of August 18, 2015, was 500,000 tenge and your balance on the day of your application (October 15, 2015) is 1,600,000 tenge, the compensable amount will not exceed 500,000 tenge;
3) if the balance at the end of August 18, 2015, was 800,000 tenge and your balance on the day of your application (October 15, 2015) is 6,000 tenge, you can replenish your deposit to 800,000 tenge; the compensable amount will not exceed 800,000 tenge (a lower amount can be specified);
4) if the balance at the end of August 18, 2015, was 1,000,000 tenge and on the day of your application (October 15, 2015) you have no open deposit or balance is 0 tenge, the compensable amount will not exceed 1,000,000 tenge.
Under what circumstances will compensation be paid?
To receive compensation, you should not demand (reduce) the compensable amount within one year, except for withdrawal (debit) within bank orders and/or third-party instructions for money retrieval based on Kazakhstani laws (PTP, collection orders) or target payments under state programs (state educational saving system, etc.).
You may reduce the compensable amount (if partial withdrawal is allowed by the product terms), but in such cases, compensation will not be paid.
If withdrawal/debit/reduction of the compensable amount happened under a PTP and collection order or through targeted use in the product “Educational Saving”, compensation will still be paid.
When will compensation be paid?
If you maintain the agreed amount by the end of September 30, 2016, October 31, 2016, or November 30, 2016, and sign a supplementary agreement with us, compensation will be paid to your account by October 10, 2016, November 10, 2016, or December 10, 2016.
For more information, please visit our Bank offices.