The Credit Product “Home Renovation”

№

Indicators

Key Terms and Conditions

1

Loan Purpose

For the renovation and reconstruction of individual housing or apartments in multi-apartment residential buildings.

2

Loan term and grace period

For a term not exceeding 10 years (with a grace period on principal payments of up to 6 months).

3

Loan amount

For the renovation and reconstruction of individual housing.

In an amount not exceeding 300.0 (three hundred) million UZS.

For the renovation of an apartment in a multi-storey residential building.

In an amount not exceeding 200.0 (two hundred) million UZS.

4

Down payment

Not required

5

Interest Rate

25% per annum

6

Loan Disbursement

Disbursement is made by fund transfer based on a sales contract or to the borrower’s bank card.
In this case, the loan is disbursed in at least 2 (two) stages. In the first stage, a portion not exceeding 80 (eighty) percent of the loan amount is released; the remaining part (second stage) is disbursed only after ensuring the targeted use of the initial funds and formalizing the monitoring report.

7

Loan Repayment

Annuity or differentiated payments

8

Loan Security

The housing to be renovated or reconstructed with the loan funds shall be accepted as collateral.

9

Who is Eligible?

The loan is disbursed to the owner of the housing being renovated (reconstructed) or to natural persons who are close relatives of the owner (parents, brothers, sisters, spouse, children, daughter-in-law, son-in-law) and are permanently registered at the given address.
In cases where the loan is granted to a close relative, it must be verified that the borrower is permanently registered at this address and is indeed a close relative of the property owner.

10

Additional Conditions

The loan amount to be disbursed shall not exceed 80 (eighty) percent of the collateral value.
At the borrower’s request, funds transferred to the borrower's bank card may be provided in cash through the bank's cash desk to facilitate expenses related to home renovation.