For Kazakhstan, providing citizens with affordable and quality housing is one of the important directions of social policy. Economic growth and the social orientation of the state became the foundation for the establishment of the housing construction savings (HCS) system, which is regulated by the Law of the RK "On Housing Construction Savings in the RK" dated December 7, 2000.

The HCS system is a closed financing model within which the improvement of housing conditions is ensured by attracting the funds of depositors into the housing construction savings system with the subsequent provision of housing loans to them. The German model, which previously also became widespread in Eastern European countries, was adopted as the basis for the Kazakhstani model of the HCS system. The HCS system in Kazakhstan has been successfully applied for more than 23 years, demonstrating a steady growth in popularity among the population.

The specific feature of the housing construction savings system consists in the preliminary accumulation of money in the savings accounts of the Bank in order to obtain housing loans at low interest rates to improve housing conditions.

Deposits of the population are encouraged by a state premium (20% of the deposit amount, the maximum amount of the encouraged deposit is up to 200 MCI) regardless of the form of ownership, according to the Law of the RK "On Housing Construction Savings in the Republic of Kazakhstan".

The depositor also has the opportunity to purchase housing within the framework of state, regional, as well as the Bank's own programs. Of particular importance is the legislative protection of funds in the form of housing construction savings against the imposition of arrests and foreclosure on money. From July 12, 2025, such protection also extends to funds in deposits that are the subject of a pledge for issued bank loans.

Today, Otbasy Bank is the only bank in the country implementing the housing construction savings system.

 

Housing Construction Savings System

Lending Purposes

The Bank provides its depositors with housing loans, interim loans, and preliminary housing loans for measures to improve housing conditions, specifically:

1.  Construction (including the acquisition of a land plot) and acquisition of housing, including through its exchange for the purpose of improvement.

2.  Repair and modernization of housing (including the acquisition of building materials and payment for contract work).

3.  Settlement of liabilities incurred in connection with measures to improve housing conditions.

4.  Making a down payment to obtain a residential mortgage loan from banks and organizations engaged in certain types of banking operations.