“Housing Construction Savings Bank of Kazakhstan” JSC issued the first loan within frames of “military product”
6 September 2018
The first credit was issued to military service man from Semey. Sergeant Kairat Tanyspayev has bought three-room apartment in the city center for 8,5 mln KZT. He will pay back the loan during 14 years, monthly payment will be equal to 79 416 KZT. It is important that the recipient of loan will pay this money not from his own salary. He will pay back the loan at the expense of residential allowance, which is due to him from the state as a person, who has a need for housing.
-Since the beginning of 2018 the mechanism of using housing payments has changed with military service men. Previously they could be directed exclusively to payment of leased housing. Now the payments due to us may be saved up on accounts in “Housing Construction Savings Bank of Kazakhstan” JSC (HCSBK) may be used for payment of privileged loans, refinancing of mortgage loans in other second tier banks and even participate in share construction. I preferred to save up money for the first installment in HCSBK and now I have bought the apartment at the secondary market, which apartment I have chosen myself near to school and kindergarten. I have two children and location of housing is very important. Thanks to special program for military service men I have solved my housing challenge within half of year, - told Kairat Tanyspayev.
Three kinds of loan are offered to military men to choose from depending on amount of savings on account in HCSBK and selected housing.
Thus, having initial installment equal to just 5% of apartment cost the military man may receive credit at the rate of 7% per year. The housing, which he will choose, shall be purchased on the primary market, from constructing company.
In case of paying 20% of housing cost the payback rate will be reduced to 6% per year. New apartment shall also be purchased from constructing company.
If military man wants to purchase square meters on secondary market as in the example with Kairat Tanyspayev, in this case it is necessary to save up 20% of housing cost on deposit in HCSBK, and the person may apply for credit at the rate of 8% per year.
The bank has issued 74 billions of KZT from its own funds for support of military service men in privileged crediting. With the purpose of making distribution of this money among loan recipients transparent and fair the bank has developed score system, the basic criterion of which is the period of service.
Applications from applicants were received on special portal Askeri.baspana.kz.
Totally about 13 thousands of applications were submitted within a month. Accuracy of information indicated therein was checked by unit commanding officers. Military service men having filled their questionnaire data have been accepted to pull of applicants for receiving of affordable credits.
-At the moment about 4000 persons have been already selected. More than 1000 applicants are at the stage of inspection. These are employees of the National guard, National Security Committee, military prosecutor's office, state guarding service, Ministry of Interior Affairs and Ministry of Defense. All of them have submitted applications on Askeri.baspana.kz portal and have collected the highest score, which were calculated based on 0,5 score for each full month of military service. Thus we have given the priority particularly to those, who is longer in service, because we want defenders of our motherland to be confident in tomorrow and know, that after retiring to unambiguously have their own housing. Additionally thereto the bank has assigned 24 billions of KZT to refinancing of loans of military service men. If this money is not appropriated then we will assign them to crediting of housing. Our viewpoint is shared also by Nurlan Yermekbayev – minister of defense. The day before he visited the headquarters of Vostok regional command, where they held presentation to him of the new product for military service men, - explained Lyazzat Ibragimova – chairperson of the board of directors of “Housing Construction Savings Bank of Kazakhstan” JSC.
The military man is searching for housing himself based on the amount of credit. It is calculated based on the amount of residential payments of military service man, which depend of region and quantity of family members. i.e. the larger the family is the higher is the loan amount.
Since a person may use residential payments only one time the young military service men, who have not yet started a family or a young family just plan to have children we recommend not to hurry with purchase of an apartment. At this stage the most advantageous recommendation is to save up residential payments on account in HCSBK and to participate in competition in the following year. Then having more savings and amount of residential payments a person can buy a more spacious apartment.
-Since the beginning of 2018 the mechanism of using housing payments has changed with military service men. Previously they could be directed exclusively to payment of leased housing. Now the payments due to us may be saved up on accounts in “Housing Construction Savings Bank of Kazakhstan” JSC (HCSBK) may be used for payment of privileged loans, refinancing of mortgage loans in other second tier banks and even participate in share construction. I preferred to save up money for the first installment in HCSBK and now I have bought the apartment at the secondary market, which apartment I have chosen myself near to school and kindergarten. I have two children and location of housing is very important. Thanks to special program for military service men I have solved my housing challenge within half of year, - told Kairat Tanyspayev.
Three kinds of loan are offered to military men to choose from depending on amount of savings on account in HCSBK and selected housing.
Thus, having initial installment equal to just 5% of apartment cost the military man may receive credit at the rate of 7% per year. The housing, which he will choose, shall be purchased on the primary market, from constructing company.
In case of paying 20% of housing cost the payback rate will be reduced to 6% per year. New apartment shall also be purchased from constructing company.
If military man wants to purchase square meters on secondary market as in the example with Kairat Tanyspayev, in this case it is necessary to save up 20% of housing cost on deposit in HCSBK, and the person may apply for credit at the rate of 8% per year.
The bank has issued 74 billions of KZT from its own funds for support of military service men in privileged crediting. With the purpose of making distribution of this money among loan recipients transparent and fair the bank has developed score system, the basic criterion of which is the period of service.
Applications from applicants were received on special portal Askeri.baspana.kz.
Totally about 13 thousands of applications were submitted within a month. Accuracy of information indicated therein was checked by unit commanding officers. Military service men having filled their questionnaire data have been accepted to pull of applicants for receiving of affordable credits.
-At the moment about 4000 persons have been already selected. More than 1000 applicants are at the stage of inspection. These are employees of the National guard, National Security Committee, military prosecutor's office, state guarding service, Ministry of Interior Affairs and Ministry of Defense. All of them have submitted applications on Askeri.baspana.kz portal and have collected the highest score, which were calculated based on 0,5 score for each full month of military service. Thus we have given the priority particularly to those, who is longer in service, because we want defenders of our motherland to be confident in tomorrow and know, that after retiring to unambiguously have their own housing. Additionally thereto the bank has assigned 24 billions of KZT to refinancing of loans of military service men. If this money is not appropriated then we will assign them to crediting of housing. Our viewpoint is shared also by Nurlan Yermekbayev – minister of defense. The day before he visited the headquarters of Vostok regional command, where they held presentation to him of the new product for military service men, - explained Lyazzat Ibragimova – chairperson of the board of directors of “Housing Construction Savings Bank of Kazakhstan” JSC.
The military man is searching for housing himself based on the amount of credit. It is calculated based on the amount of residential payments of military service man, which depend of region and quantity of family members. i.e. the larger the family is the higher is the loan amount.
Since a person may use residential payments only one time the young military service men, who have not yet started a family or a young family just plan to have children we recommend not to hurry with purchase of an apartment. At this stage the most advantageous recommendation is to save up residential payments on account in HCSBK and to participate in competition in the following year. Then having more savings and amount of residential payments a person can buy a more spacious apartment.
