Branch subsidiary of JSC "Baiterek National Management Holding"

House construction savings bank of Kazakhstan solved housing issue of 3 800 military service persons over one month

29 May 2019
House construction savings bank of Kazakhstan (a subsidiary organization of Baiterek holding) realized in the current year the housing program for military service persons. With updated conditions it started on the 2nd of May and already on the 27th of May the bank has declared about its early finishing. Over 19 work days 680 loans for the amount of 10,7 billions of KZT were issued. 3 143 more loan applications in the amount of 46,7 billions of KZT have been accepted and are being processed. The loans under these applications will be issued as they are processed. Thus annual limit of money allocated for loan issue to military service persons was fully utilized. The third stage of realization of “Askeri baspana” housing program will be launched in January 2020.
We remind that within its frames recipients of housing payments may take the loan for purchase of housing at a rate of 8% per annum provided a minimum initial contribution is available equal to 15% of loan amount.
In order to receive a loan military service persons do not have to participate in pull and wait for results thereof as it was in 2018. It is sufficient if they themselves find suitable housing and address the bank. Whereas there are no restrictions as to selection of housing. They can buy an apartment on primary market, participate in shared construction or select housing on secondary market. Also they can buy a private house with a land plot.
-“Military product” is an initiative of the bank. It was developed and launched in order to support motherland's defenders, help them within a short period of time to purchase own housing under optimal conditions.
Specially for this purpose House construction savings bank of Kazakhstan last year allocated 98 billions of KZT. 48 billions of KZT from this amount are own money of the bank, 50 billions of KZT – borrowed money. As a result in 2018 we helped 2 556 military service persons to solve the housing issued by issuing them loans in the amount of 38,5 billions of KZT. This year 60 billions of KZT remains for loan issue. This amount is sufficient to improve housing conditions of almost 4 000 persons. Taking into consideration that around 70 000 military service persons need housing the bank helped already 10% of this number to solve the housing issue over less than two years, - explained chairperson of the executive board of House construction savings bank of Kazakhstan – Lyazzat Ibragimova.
Three leaders in issue of loans this year include Nur-Sultan city (294 loans were issued as per data as of 28.05.19), East-Kazakhstan region (99 loans were issued as of 28.05.19) and Semey (77 loans were issued as per data as of 28.05.19).
The bank reminded that the “military product” is only one of instruments for improvement of housing conditions. Motherland defenders can purchase own apartment also through “Nurly zher” program. For participation therein it is sufficient to have initial contribution equal to 20% on the bank account and it is possible to receive a loan at a rate of 5% per annum. You can learn about availability of housing and acceptance of application on baspana.kz portal.
One third of military service persons on this stage prefer to save up their housing payments on House construction savings bank of Kazakhstan accounts in order to use in the future a different instrument – housing loan. It is issued at a rate of 3,5 to 5% per annum. In order to receive it it is necessary to save up 50% of housing cost on deposit account.

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