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Loan term
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up to 240 months
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Loan purpose
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Provided by transferring funds to the account designated for issuing mortgage loans to citizens of the Republic of Uzbekistan for the purchase of housing on the primary housing market, financed from the funds of the Ministry of Economy and Finance of the Republic of Uzbekistan.
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Subsidy
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Funds transferred from the State Budget to the relevant account opened by the bank in the name of the citizen to cover the down payment and a portion of the interest on the loan when purchasing an apartment using a mortgage loan.
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Purpose of the funds
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For the purchase of apartments in multi-apartment residential buildings on the primary housing market (hereinafter referred to as the "apartments").
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Primary Housing Market (Newly Built Housing)
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Apartments in newly built multi-apartment residential buildings with no fewer than four storeys, where ownership rights have arisen on the basis of the Acceptance Commission's Certificate of Completion and Commissioning of the residential building, provided that no more than three years have elapsed since the building was commissioned. This also includes apartments in such buildings that have been accepted onto the bank's balance sheet in settlement of outstanding debt. Mortgage loans under this program shall not be granted for projects where the land was originally approved for the construction of a non-residential building, but the project was subsequently amended during the construction period and reclassified as a residential development.
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Annual interest rate
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The refinancing rate of the Republic of Uzbekistan + 2.99%
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Loan amount
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- In the Republic of Karakalpakstan and the regions — up to UZS 380 million.
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In the city of Tashkent — up to UZS 480 million.
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Down Payment Amount
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Not less than 15% of the value of the residential property
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Collateral
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The apartment purchased with the loan proceeds shall serve as collateral.
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Loan Repayment Terms
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- Principal repayment — monthly;
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Interest payments — monthly;
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Interest on the loan is accrued from the date the loan funds are actually disbursed, based on the outstanding principal balance.
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Eligibility Requirements for Prospective Borrowers
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- Individuals aged 18 years or older and not over 60 years of age;
- Citizens of the Republic of Uzbekistan
- Must not have any overdue debt on previously obtained loans from credit institutions at the time the mortgage loan application is being reviewed;
- Must not have any credit history showing loan arrears of more than 90 days during the preceding 36 months;
- Must have permanent employment, a regular income from a personal subsidiary or dehkan farm, or from individual entrepreneurial activities; may also be self-employed or have another lawful and documented source of income sufficient to make the monthly payments of accrued interest and principal under the mortgage loan repayment schedule;
- Must be able to provide a down payment of at least 15% of the value of the apartment to be purchased on the primary housing market in order to obtain a mortgage loan. Where a mortgage loan subsidy is granted, the down payment shall consist of a fixed subsidy amount allocated toward the down payment and the borrower's own contribution of not less than 5% of the value of the residential property.
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Required documents
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- Loan application;
- Loan application form completed by the borrower;
- The original passport or other document confirming the borrower's identity and place of residence, from which the loan officer will make a copy;
- Identity documents of the customer, copies of which are made by an employee of the Retail Lending Front Office/Banking Services Center (BSC), including: passport, ID card, military ID, new-format driver's license, and the original residence permit of the Republic of Uzbekistan;
- Documents confirming the income of the borrower/co-borrower. If the above documents are not provided, the Bank may obtain the relevant information through the loan application form and by sending electronic inquiries to external information systems;
- If the borrower is a self-employed individual, a certificate issued by the State Tax Service confirming registration as a self-employed person and containing a QR code must be provided.
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Place for Submitting a Loan Application
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Loan applications and loan processing are carried out at the Bank's branches and subdivisions.
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Repayment Schedule
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Annuity or differentiated
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Loan Application Review Period
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The loan application shall be reviewed within 3 days from the date of its submission. The customer shall be notified of the decision on the loan application within 24 hours.
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Additional fees for loan review and processing
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No
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Early repayment
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Early repayment is permitted for this type of loan without any additional fees, commissions, or penalties.
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Grace Period for Principal Repayment
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No
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Grounds for Denial of a Loan Application
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- A negative credit history (including failure to repay the principal and accrued interest on time, or the existence of current overdue loan debt);
- Unstable income or the absence of income on the part of the prospective borrower;
- Submission by the prospective borrower of false, inaccurate, or incomplete information;
- Absence of collateral securing the loan.
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If the borrower fails to repay the principal within the prescribed timeframe, the interest rate applied to the overdue amount shall be increased threefold, effective from the date the overdue debt arises.
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