- on-demand accounts
- thrift accounts
To open an account clients need a passport or another identification document. Account opening is free of charge.
On-demand deposit account is interest free and used for clients’ money keeping and saving, and also for sending and receiving of money transfer. The money from the on-demand deposit account is paid out by the first request of a depositor. The following funds can be credited on the on-demand deposit account by transfer: salary, author’s fee, pension, alimony, social allowance, money of another physical person’s deposit account and etc. The account is not meant for commercial activity and settling with the third parties.
Advantage of Retail Credits from BTA Bank
- Free consultation
- Individual approach to each client
- Efficiency in consideration and providing of loan
- Absence of additional expenses at disbursing of loan such as: insurance, service of account and others
- Bank works directly, without intermediaries
Services by cards
“BTA-Bank” CJSC provides to its cards holders the following range of services:
- Payments through ATM by ELCART cards;
- Card accounts statements;
- Performing payments in Internet by VISA cards.
Armed escort of valuables
- Collection department of «BTA Bank» CJSC transports monetary assets of a client by special transport, provided with armor protection and modern means of radio communication, LCS and rotating beacons meeting all the norms and safety requirements foreseen.
In modern conditions the Collection department of the Bank works with the following tasks:
- delivery of money from the Bank to a company office, for example, for the following payment of salary to employees;
- delivery of monetary assets from the Bank to the place of goods purchasing;
- delivery of monetary assets from the Bank to an exchange office and back;
- delivery of sale proceeds of trading organizations to the Bank.
Collection department of «BTA Bank» CJSC collects, delivers and secures monetary assets in the order and terms agreed by parties under a contract.
The employees of the Collection department are armed with modern rifled fire weapon and provided with individual means of protection.
Collection and transportation tasks are implemented by professional specialists who have experience in dealing with fire weapon and radio communication.
There are classes on shooting out of the fire weapon held to increase the level of qualification of the department employees. The collectors visit sports hall to keep fit.
The collectors wear special Bank clothes when being on duty. The Collection department keeps confidentiality of the information connected with its activity.
If a client of the Bank is dubious about a success of a transaction and if he needs to take a real confirmation that his partner has available money or the client himself must provide such confirmation, the client simply needs to open an escrow account with CJSC «BTA Bank» and credit to it a required amount.
Escrow account is a current account that the Bank opens for the Client and the payer credits this account subject to its deposit (freezing) with no right for its holder to effect any expense transactions until liabilities secured by such account are discharged.
- The Bank maintains availability of a minimum balance of the escrow account as well as well-grounded and timely payment from the escrow account.
- If either party fails to or improperly discharges its liabilities when due, the Bank shall return the money from the escrow account to the Bank.
Escrow account is available to:
- Unincorporated self-employed entrepreneurs, including individuals operating under a license or a non-recurrent ticket,
- Entities (limited liability partnerships, joint stock companies).
Bank accounts can be opened and operated in both national and foreign currencies. The accounts can be used either for settling with the third parties or for keeping and saving funds of a client. The accounts can be both interest bearing and non-interest bearing depending on a contract conditions and are divided into:
- Transaction account
- Accumulation account
- Time deposits
- Transit account
Transaction account is an account meant for saving money and implementation of current payments made by corporate bodies and individual businessmen (incomings, payments, reciprocal settling with other physical persons or corporate bodies, transfer to other financial-credit institutions) according to a bank account agreement.
Accumulation account is meant for depositing a part of an authorized fund by the founders in accordance with the law of the Kyrgyz Republic «About state registration of corporate bodies.» The document on the depositing a part of an authorized fund by the founders should be put in the registering authority to get the state registration of corporate bodies together with founding documents. Only operations on money accumulating are implemented on these accounts until they have been closed.
Transit account is meant for cash contribution, for the transaction account replenishment, (and transfer of money to the transaction account the same day.)
Time deposits are money on deposit account placed there by corporate bodies and individual businessmen according to the bank deposit agreement for a certain period of time, bringing income to the owner on the accrued interests. The account of this type is used for saving money and not meant for settling with the third parties.
In case when time or any other deposit except a demand deposit returns to a client upon his request before the expiry date or other circumstances defined in the agreement, the interests on the account are paid in accordance with the rate of interest paying out by the bank on the demand deposits, if the agreement doesn’t cover a higher interest rate.
Additional deposits and partial payments of the basic sum of the deposit are not implemented on this deposition.
By maturity of the time deposit saving a client can re-execute it for a new term. The deposition can be re-executed for a new term of saving with an increase or decrease of the time deposit sum.
The clients serviced by the Bank should only sign a Bank Deposit Agreement and an application for an account opening. They don’t need any additional documents.
Documentary letter of credit
Documentary letter of credit is an obligation the Bank undertakes on behalf of a client to pay beneficiary (goods seller) the sum stated in the letter of credit against submission of documents stated in the text of the letter of credit and complying its conditions during the period of time stated in the letter of credit.
In other words You make an Agreement with «BTA Bank» CJSC about our liability to pay for the shipped goods the sum, for which the letter of credit is concluded, as soon as your Partner (goods seller) submits all necessary documents: transport documents, custom documents, the documents confirming the shipping, the documents confirming quality and other characteristics of the goods. Transport conditions, goods security are discussed in the conditions of the letter of credit thus the following foreign trade risks are excluded:
- Risk of goods non-delivery
- Risk of delivery of low quality goods
- Insurance risks
Two types of letters of credit are used in the world practice:
First type is a letter of credit opened on the documents submission; You (an importer) shall pay for the shipped goods during a week. Second type — with the payment delay. In case of use of letter of credit with payment delay, a buyer can get payment delay it means there is no necessity to withdraw money. It allows a buyer to save funds because a buyer can start selling the goods bought in credit way for trade or if it is equipment or components, start working and pay a part of the letter of credit with the money earned here. Thus letter of credit with delay is a kind of credit. the sum of the letter of credit will return after a certain term defined in the result of an agreement between a buyer and a provider. Evident advantage of the service is concessionary interest rate — about 12% per annum.
It is also possible to get confirmation of the letter of credit from another high-class foreign bank. In this case the bank undertakes the same liability as «BTA Bank» CJSC. It reduces the risks of your partner.
We are also ready to consult on the following settlement types — participation in the talks with foreign partners, making reliable and less expensive plan of the deal with calculation of approximate cost of banking service, terms of the operation and etc.
Thank to joining «BTA» group most of documentary operations are implemented directly with banks of our clients’ contractors (without intermediary banks), that allows clients to minimize their banking commission expenses.
«BTA Bank» CJSC opens documentary letters of credit both in KGS and in foreign currency for its clients.
Any company negotiating on a conclusion of a contract, undoubtedly, would like to assure that another participating part will carry out its obligations. Bank guaranty is a popular and often used way of ensuring performance of obligation. Except it, in some cases Bank Guaranty is a condition of a client’s participation in separate deals or operations (for example tender guaranty). In contrast to the letter of credit, the Guaranty is not a paying instrument; payment on the Guaranty is made in exceptional instance. Use of the Guaranty allows You not to make prepayment but to pay upon receipt of goods or with delay. It is also possible to get Guaranty from a high-class foreign bank under the instruction of our Bank.
Our Bank provides various types of guaranties, used in international practice:
- Tender guaranties;
- Contract performance guaranties;
- Return of advanced payment guaranties and etc.
«BTA Bank» CJSC offers the most profitable guaranty rates only 6-8% per annum charged upon property, and from 0,5% to 1,5% form the sum charged upon money. The guaranties charged upon money is given for one working day.
The evaluation is made by experts of the Bank and its Branches under the condition of visual inspection by an appraiser at the place of evaluation object location.
Evaluating of real estate cost as well as any other mortgage type the Department of Collateralized Property uses three main approaches to the evaluation:
- Cost-is-no-object approach (property)
- Relative (market)
By evaluation of property taking in mortgage the following criteria are considered: liquidity, demand and market price, replacement cost, supposed wear and tear for the moment of credit repayment (loan, letter of credit, guaranties and etc.), and others.
The product allows to reach the following purposes:
- To increase quality and speed of the service
- To cut down the client’s expenses for securitization
- To provide permanent access to credit resources
- Individual approach to the client
- To shorten time of the credit processing
- Long term cooperation between the client and the bank
To formalize the credit a potential Borrower is to have stable business working not less than 3 months (non-stop) before applying for the credit. The following economic sectors are being financed: trade, services, manufacture, agriculture.
«BTA Bank» CJSC implements currency operations with all main kinds of foreign currency (USD, EUR, RUB, KZT). The Bank sets quotations on the basic freely convertible currencies and currencies of the CIS countries as well. The Bank practises flexible approach to the question of definition of course and terms of payments on conversion deals.
The Bank specialists give their assistance in choice of a strategy on hedging of currency risks, incidental to export-import deals.
- Monday-Friday 08:00-22:00
- Saturday 08:00-18:00
- Sunday — closed
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