About 6 000 military service men will receive privileged loans from “Housing construction saving bank of Kazakhstan
10 October 2018
The first 64 military service men have already received affordable loans from Housing construction saving bank of Kazakhstan (HCSBK) and they have celebrated their house warming. 285 more applications are there in the bank awaiting consideration, the most part of which was submitted from Astana and Almaty.
Privileged loans, which HCSBK offered to defenders of the Motherland are divided into three types and depend on the amount of savings of a candidate and selected housing.
Thus, having initial contribution in the amount of only 5% of apartment cost the military service man is able to receive the loan at the rate of 7% per annum. The housing, which he will choose, shall be bought on the primary market from the real estate developer.
If there are 20% of housing cost available the loan rate shall decrease to 6% per annum. A new apartment shall also be bought from real estate developer. If a military service man wants to purchase square meters on the secondary market in this case he has to make initial contribution in the amount of 20% and he may lay claim to the loan at the rate of 8% per annum. According to statistics particularly the last type of loan, where purchase of secondary housing is stipulated, is in demand of military service men most of all. Loans with initial contribution of 5% are on the second place by popularity.
- Housing construction saving bank of Kazakhstan has allocated 74 billions of KZT from its own funds for support of military service men. So that distribution of this money among loan receivers is transparent and fair the bank has developed a score system. the period of military service has become the basic criterion thereof, the participant was awarded 0.5 score for each full month of the military service. Applications from candidates were accepted at the special online portal Askeri.baspana.kz. Totally around 13 thousands of applications were submitted within a month. About 4 430 candidates have been already processed and more than 1000 persons are at the stage of examination, - explained Lyazzat Ibragimova – the chairperson of HCSBK board of directors.
The list of candidates includes border patrol, National guard, military prosecutor's administration, Ministry of Interior, Ministry of Defence and state guard service. The most part of applications was submitted by representatives of the Ministry of Defense. From among 7 755 persons desiring to participate in the special military program of this ministry the pull included 1900 persons.
The housing within frames of the military product is sought by military service men themselves based on the amount of loan. This amount shall be calculated based on the amount of housing payments of military service man, which depend on the region and number of family members. i.e. the larger the family the larger the amount of loan.
For example, in Astana the amount of housing payments is equal to 48 870 KZT. It shall be accrued for each family member. Accordingly a married military service man with two children receives 195 480 KZT monthly. Based on the period of crediting – 14 years and on the rule that monthly re-payment of the loan is equal to housing payments the loan amount will be 19,2 millions of KZT. Housing can be purchased on the primary market at the rate of 7% per annum. Whereas the initial contribution will be only 5%.
In Karaganda, where housing payments for one person make 28 548 KZT the housing under similar conditions can be bought for 12,3 millions of KZT, and in Shymkent – for 8,9 millions of KZT.
Since housing payments may be used only one time the young military service men, who have not a family yet or a young family only plans to have more children it is advisable not to hurry with purchasing an apartment. At this stage it is more advantageous to save up housing payments in the account of HCSBK and to participate in the selection the next year. Then a person having more savings and larger amount of housing payments is able to purchase more spacious apartment.
Since the beginning of 2018 military service men can use their housing payments in the housing construction savings system, receive privileged loans with assistance of HCSBK as well as cancel or refinance mortgage loans in other second tier banks in share construction. Currently the legislation permits this to them. In the past the housing payments were allowed to be used only for payment of rented housing. At the moment 70 000 persons opened accounts in HCSBK, to which accounts housing payments are transferred.
Privileged loans, which HCSBK offered to defenders of the Motherland are divided into three types and depend on the amount of savings of a candidate and selected housing.
Thus, having initial contribution in the amount of only 5% of apartment cost the military service man is able to receive the loan at the rate of 7% per annum. The housing, which he will choose, shall be bought on the primary market from the real estate developer.
If there are 20% of housing cost available the loan rate shall decrease to 6% per annum. A new apartment shall also be bought from real estate developer. If a military service man wants to purchase square meters on the secondary market in this case he has to make initial contribution in the amount of 20% and he may lay claim to the loan at the rate of 8% per annum. According to statistics particularly the last type of loan, where purchase of secondary housing is stipulated, is in demand of military service men most of all. Loans with initial contribution of 5% are on the second place by popularity.
- Housing construction saving bank of Kazakhstan has allocated 74 billions of KZT from its own funds for support of military service men. So that distribution of this money among loan receivers is transparent and fair the bank has developed a score system. the period of military service has become the basic criterion thereof, the participant was awarded 0.5 score for each full month of the military service. Applications from candidates were accepted at the special online portal Askeri.baspana.kz. Totally around 13 thousands of applications were submitted within a month. About 4 430 candidates have been already processed and more than 1000 persons are at the stage of examination, - explained Lyazzat Ibragimova – the chairperson of HCSBK board of directors.
The list of candidates includes border patrol, National guard, military prosecutor's administration, Ministry of Interior, Ministry of Defence and state guard service. The most part of applications was submitted by representatives of the Ministry of Defense. From among 7 755 persons desiring to participate in the special military program of this ministry the pull included 1900 persons.
The housing within frames of the military product is sought by military service men themselves based on the amount of loan. This amount shall be calculated based on the amount of housing payments of military service man, which depend on the region and number of family members. i.e. the larger the family the larger the amount of loan.
For example, in Astana the amount of housing payments is equal to 48 870 KZT. It shall be accrued for each family member. Accordingly a married military service man with two children receives 195 480 KZT monthly. Based on the period of crediting – 14 years and on the rule that monthly re-payment of the loan is equal to housing payments the loan amount will be 19,2 millions of KZT. Housing can be purchased on the primary market at the rate of 7% per annum. Whereas the initial contribution will be only 5%.
In Karaganda, where housing payments for one person make 28 548 KZT the housing under similar conditions can be bought for 12,3 millions of KZT, and in Shymkent – for 8,9 millions of KZT.
Since housing payments may be used only one time the young military service men, who have not a family yet or a young family only plans to have more children it is advisable not to hurry with purchasing an apartment. At this stage it is more advantageous to save up housing payments in the account of HCSBK and to participate in the selection the next year. Then a person having more savings and larger amount of housing payments is able to purchase more spacious apartment.
Since the beginning of 2018 military service men can use their housing payments in the housing construction savings system, receive privileged loans with assistance of HCSBK as well as cancel or refinance mortgage loans in other second tier banks in share construction. Currently the legislation permits this to them. In the past the housing payments were allowed to be used only for payment of rented housing. At the moment 70 000 persons opened accounts in HCSBK, to which accounts housing payments are transferred.
