Launched in Kazakhstan: New mortgage program targeting young families
Young families in Kazakhstan now have an opportunity to purchase housing with favorable terms, thanks to the new "Jas Otbasy" mortgage program. This program, aimed at assisting young families, offers lower interest rates and state support, according to reports by Liter.kz, citing Krisha.kz.
To be eligible for the "Jas Otbasy" program, young families must meet certain criteria. Generally, applicants must be under a certain age limit, often under 35 years old, and hold Kazakhstani citizenship. The age of the spouses does not matter in the context of the mortgage program.
The application process for the mortgage program can be initiated through the Otbasy Bank app or website. To use the program, one needs to open a special deposit in Otbasy Bank and save at least 50% of the housing cost within a year.
The loan amount and term for the "Jas Otbasy" program have limits. The maximum mortgage amount and loan duration are often up to 20-25 years. The mortgage program allows for the purchase of an apartment, house, or land plot for construction, and the loan amount can include repair costs.
The interest rate for the program initially starts at 6% per annum, but it decreases to 5-3.7% depending on the conditions after two years. Participation in the program does not require a preferential status, and it does not specifically target socially vulnerable groups.
To apply for the "Jas Otbasy" program, applicants must provide necessary documents such as IDs, marriage certificates, and data on the chosen property. An evaluation score of at least 5 is required for the mortgage program, based on the regularity and volume of deposits.
For precise and current details, it is recommended to contact Otbasy Bank directly via their official hotline or visit their website for updated program conditions and application guidance. If needed, assistance can be provided in finding the official Otbasy Bank contact or exact program brochures published by the Kazakh authorities.
Young families in Kazakhstan who are considering personal-finance matters for purchasing a property may find the "Jas Otbasy" mortgage program beneficial, as it offers lower interest rates and state support. To apply for this program, eligible candidates must open a special deposit in Otbasy Bank, saving at least 50% of the housing cost within a year, and meet certain criteria such as being under 35 years old and holding Kazakhstani citizenship. The loan amount for this business venture can include repair costs and is subject to limits, with the maximum mortgage amount and loan duration often being up to 20-25 years.
