Branch subsidiary of JSC "Baiterek National Management Holding"

House construction savings bank of Kazakhstan launched updated housing program for military service persons.

3 May 2019
Now military service persons and employees of special state authorities for purchasing of housing through House construction savings bank of Kazakhstan (subsidiary organization of Baiterek holding) do not have to participate in the pull and wait for results thereof. HCSBK optimized terms of “military product” and since the beginning of May 2019 for recipient of housing payments the loans will be issued under unified conditions: at the rate of 8% per annum provided the recipients have made minimum initial contribution equal to 15% of loan amount.
Whereas there are no restrictions in selection of housing. The loan may be used for purchasing of finished apartment on primary market, it is possible to participate in shared construction or to select housing on secondary market. When buying housing in the amount of loan it is possible to include expenses on repair thereof.
Even those military service persons, who already own an apartment, but their departmental agencies consider them as those who need housing, will be able to participate in the updated housing program.
-The first loan in the amount of 16 millions of KZT under new terms was approved to a military service person from Taldykorgan. Now with family and three children he will be able to move from parents to a spacious 4-room apartment in a new house. According to our forecast the housewarming event will be able to celebrate totally 4 000 military service persons this year, the bank assigned 59 billions of KZT for loan provision to them, - said Lyazzat Ibragimova – chairperson of HCSBK executive board.
The amount of loan under “military product” shall be calculated based on the amount of housing payments, which depend on region and family membership. In other words the larger a family is the larger is the housing. Therefore young military service persons, who have not yet build a family, and families, who plan more children, it is advisable not to hurry with purchase of an apartment. At this stage it is more beneficial to them to save up housing payments at account in HCSBK, and receive a loan in the future according to classic scheme of housing construction savings system at a rate of 3,5 to 5% per annum.
We remind, that last year the mechanism of using housing payments by military service persons changed. They have an opportunity of sending them not only for payment of lease of someone's housing, but also of buying their own apartment. In order to support defenders of the motherland HCSBK allocated the money and developed for them a separate housing program intended till the year 2025. 2 500 persons had an opportunity of using the “military product” since September of the last year.
70 thousands more of military service persons opened accounts in HCSBK and make savings at expense of their housing payments. Whereas all special deposits to HCSBK have a special status and immunity guarantee. Savings of military service persons shall not be subject to withholding to the budget, they cannot be arrested and other second tier bank may not issue payment demands for this money for cancellation, for example, of overdue loan.
Those military service persons, who last year submitted applications for participation in the program through portal and got to the pull of participants, may submit an application under the previous conditions till the 30th of September 2019.

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