HCSBK Will Start Providing Loans to Low-Income Families for the Purchase of Housing in May 2019

HCSBK Will Start Providing Loans to Low-Income Families for the Purchase of Housing in May 2019

A subsidiary of “Baiterek” National Managing Holding” JSC, “Housing Construction Savings Bank of Kazakhstan” JSC, will start providing loans to low-income families for the purchase of housing since May of this year. This was reported by Lyazzat Ibragimova, the Chairman of the Board of the HCSBK.


She noted that a new direction of “Nurly Zher” Program is under approval currently: lending to low-income families for the purchase of housing. It starts in May 2019 and will allow families with many children, families raising children with disabilities and single-parent families with minor children buying their own apartments. The down payment for them will constitute 10% of the apartment value, the loans interest rate will be equal to 2%, the loan period will not exceed 20 years.


In addition, on May 1, 2019, the launch of the updated program for military servicemen will be started. Within its framework, housing payments recipients will be able to apply for a loan at a rate of 8% per annum if there is a minimum down payment of 15% of the apartment value. At the same time, there will be no restrictions to the choice of housing for the defenders of the homeland. They will be able to purchase a living space in both the primary and secondary markets. There will be also no lists of applicants formed under a points-based system, as it used to be earlier. And even the servicemen who have their own housing will be eligible to participate in the program.

- The system of housing construction savings, which is being implemented by the HCSB, allows us covering all the categories of citizens, helping them to purchase their own housing without overpayments and a large debt load, - Lyazzat Ibragimova noted.



“Baiterek” National Managing Holding” JSC was established in accordance with the Decree of the President of the Republic of Kazakhstan dated May 22, 2013. The key institution of the Government of the Republic of Kazakhstan that complies with the advanced standards of corporate governance and ensures the implementation of the objectives for the sustainable development of the economy of Kazakhstan through its diversification, support for innovation, export development, increase in labor productivity. The Holding includes: Development Bank of Kazakhstan JSC, Investment Fund of Kazakhstan JSC, Zhilstroisberbank of Kazakhstan (HCSBK) JSC, Kazakhstan Mortgage Company MO JSC, KazakhExport EIC JSC, Damu EDF JSC, QazTech Ventures JSC, Housing Construction Guarantee Fund JSC, Kazyna Capital Management JSC, Baiterek Development JSC, Kazakhstan Project Preparation Fund LLP.

Housing Construction Savings Bank of Kazakhstan JSC is the only bank in the country that implements the system of housing construction savings. The Bank is a member of the European Federation of Building Savings Banks (EFBSB) and the International Union for Housing Finance. The sole shareholder of Zhilstroisberbank is “Baiterek” National Managing Holding” JSC.



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