Mortgage – at the expense of the Ministry of Economy and Finance

Mortgage loan

These mortgages are granted following the allocation of funds by the Ministry of Finance of the Republic of Uzbekistan.

17,5%

Interest rate

Up to 20 years

Credit term

Up to 416,5 mln. sums

Loan amount

About loan

Terms and conditions of the mortgage the JSC «Aloqabank» grants to individuals with a permanent and non-permanent income for the purchase of apartments in apartment buildings on the primary housing market at the expense of the Ministry of Finance of Uzbekistan, as well as for the construction (reconstruction) of stand-alone houses on land plots allocated to individuals for housing construction as required by law.

№	Indicators	Basic terms and conditions
1	Loan purpose	The purchase of apartments in apartment buildings on the primary housing market or the construction (reconstruction) of stand-alone houses
2	Loan period	No longer than 20 years (up to 6 months grace period on principal payments)
3	Interest on loan and down payment	The purchase of apartments in apartment buildings	15% to 30% down payment	18% p.a.
			30% down payment or higher	17,5% p.a.
		Строительство (реконструкция) индивидуальных жилья	At least 15% down payment	19% p.a.

*If the rate of the Central Bank (the CBR) of Uzbekistan decreases, the interest rate on the loan will reduce proportionately, and if the CBR increases, the loan rate will remain unchanged.

Maximum mortgage amount per borrower and a fixed subsidy to cover the down payment portion.

Thousand sums

№	Territory	Maximum mortgage amount	Fixed subsidy to cover the down payment portion
1	The Republic of Karakalpakstan and provinces	327 250	32 000
2	Tashkent	416 500	32 000

Payment of the amount of exceeding the estimated cost of housing at the expense of loans provided by banks is not allowed.

Paying off the purchased apartment price exceeding the appraised value of the apartment at the expense of bank loans is not allowed.

Take out a loan online

You can get online microloan via the Zoomrad mobile application!

Calculate your loan

Interest rate

from 10 %

to 50 %

Loan amount

320 000 000

soum

from 5 million soum

to 416.5 million soum

Loan term

months

from 1 month

to 240 month

Repayment type:

Annuity Differential

Insurance expenses:

Notary expenses:

Collateral assessment costs:

Other:

Average monthly payment*

... soum

Annual interest rate:

...%

Full cost of the loan:

...%

Issue a loan

Information sheet

* The calculation is preliminary. The exact amount of the monthly payment will be determined by the bank based on the results of consideration of the application.

Loan terms

Annual interest rate

17,5%

Maximum loan amount

Up to 416,5 mln. sums

Credit term

Up to 20 years

Loan target

The purchase of apartments in apartment buildings or the construction (reconstruction) of stand-alone houses

Submission form

Transfer to the seller's bank account

Principal and interest repayment

Monthly

Repayment method

Differentiated, Annuity

A taking out method

Bank branch

Grace period

Yes (Available (up to 6 months (at the customer's request)))

Terms and Conditions

Required documents

a) An application;

b) An original passport of the customer (co-borrower, individual guarantor) (a bank officer takes a copy of the original passport);

d) An apartment sale or stand-alone house construction (reconstruction) contract concluded with a contractor;

e) A notice of subsidy (for those with a positive opinion on the subsidy);

f) A copy of the document(s) confirming a right of ownership to the land plots allocated for housing construction (for those applied for loan on the construction (reconstruction) of a stand-alone house);

g) Design and estimate documentation for the construction (reconstruction) of a stand-alone house and an expert opinion on cost estimate (for those applied for loan on the construction (reconstruction) of a stand-alone house);

h) A building permit issued by the relevant organization(s) (for those applied for loan on the construction (reconstruction) of a stand-alone house);

i) Loan security documents.

The borrower (co-borrower, individual guarantor) income data the bank looks up online from external sources. When the bank cannot find the borrower (co-borrower, individual guarantor) income data online from external sources, the Borrower shall provide a statement of income.

Requirements

Citizens of the Republic of Uzbekistan reached 18 (eighteen) years of age, but younger than 60 (sixty) as of the date of a mortgage application.

Persons with an income as basic salary, including remunerations paid for doctoral studies, pensions, as well as those with an income as 50 (fifty) percent of receipts from the bank accounts of persons conducting individual business.

Persons with unofficial income, including income from renting out property, turnover of bank cards or rent, utilities and other sources of expenses not prohibited by law.

Persons with a Leverage Ratio not exceeding 80 (eighty) percent (including the subsidy to cover the mortgage interest expenses).

Persons able to make at least 15 (fifteen) percent down payment of the apartment value purchased on the primary housing market (including the granted subsidy).

Persons able to make at least 15 (fifteen) percent down payment of the construction (reconstruction) cost of a stand-alone house (for those applied for loan on the construction (reconstruction) of a stand-alone house).

Persons able to form (to pay) a portion of the apartment purchased if its value exceeds the estimated value of the apartment.

Persons having no overdue debts to credit organizations on previous loans as of the date of considering the mortgage granting.

When finding the Leverage Ratio, the average monthly income of a customer and co-borrowers is calculated as the arithmetic average of the income, they have received in the last 12 months (when the employment period is less than 12 months - during the employment period).

The Borrower must have earned income for at least 5 months over the last 6 months. Также The Borrower must also have income for the last month.

Credit support

For mortgages to purchase an apartment in apartment buildings:

a) the apartment to be purchased;

b) an additional third party surety or additional pledge of other liquid assets as stipulated by a Credit Policy requirements.

For mortgages to construct (reconstruct) a stand-alone house:

а) dwelling being constructed (reconstructed) against a mortgage;

b) an additional third party surety or additional pledge of other liquid assets as stipulated by a Credit Policy requirements. Other liquid assets may be pledged as collateral until the construction (reconstruction) of the dwelling against a mortgage is completed. In such a case, when the construction (reconstruction) of the dwelling against a mortgage is completed, the assets originally pledged as collateral may be withdrawn from the pledge.

Documents