Article 8. Terms of the deposit agreement The Law On the State Educational Accumulative System

Home / RLA / Article 8. Terms of the deposit agreement The Law On the State Educational Accumulative System

1. The deposit agreement must contain the following information:

1) the subject of the contract;

2) the amount of the initial contribution established by the participating bank;

3) the term of the contract;

4) the amount and procedure for payment of remuneration of the participating bank;

5) the amount of the state premium established by this Law;

5-1) the amount of the initial educational capital (if any), established by the legislation of the Republic of Kazakhstan, and the conditions for its return;

6) rights and obligations of the parties;

7) written consent of the depositor to disclose bank secrecy to the operator;

8) responsibility of the parties;

9) terms of termination of the contract;

10) other provisions in accordance with the legislative acts of the Republic of Kazakhstan.

2. The educational savings account is opened in tenge.

3. Excluded by the Law of the Republic of Kazakhstan dated January 10, 2025 No. 153-VIII (effective sixty calendar days after the date of its first official publication).

4. When concluding a deposit agreement, the participating bank calculates the recommended frequency of making and the amount of additional contributions to the educational funded contribution.

5. Contributions from third parties may be made to the depositor's account in accordance with the banking legislation of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V.

This Law regulates public relations in the sphere of functioning of the State Educational Accumulative System, as well as the conditions, forms and content of its state stimulation.

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