HCSBK and BI Group reduce loan debt for participants of Shanyrak “5-10-20” program
Kazakh citizens who are waiting to receive housing can get a mortgage at the Housing Construction Savings Bank now and benefit from flexible conditions by BI Group. This became possible due to an agreement of cooperation signed by the financial institution and the construction company as part of a program “Shanyrak” “5-10-20”. Now depositors may receive a 7 percent discount on the cost of an apartment or exempt themselves from repayment of the loan interest for the first 12 months and make only contributions to the deposit. Customers themselves will choose which direction is more profitable for them.
“The main condition is to be in the waiting list of the mayoral office. In other words, a person who wants to purchase housing as well as his or her family members should not have registered real estate. The second requirement is that according to Nurly Zher program, the income of each family member over the past six months should not exceed 3.1 portion of the subsistence minimum. That is, the amount of income shouldn’t exceed 101,271 tenge (US$238.58),” said Zhansultan Matayev, Director of the Central Branchof the bank.
People in the waiting list can apply for participation only electronically on the official website of the House Construction Savings Bank. The potential buyers can in advance find out about and choose the apartment they prefer on the Bi Group portal. This year, within the framework of Shanyrak “5-10-20” program, about 8,000 Kazakh families will be provided with affordable housing.