18.04.2022

Otbasy Bank starts accepting applications for rental housing subsidies

17,000 applicants have already received messages from Otbasy Bank (a subsidiary of Baiterek Holding) inviting them to apply for rental subsidies.

In April, applicants can apply on otbasybank.kz (Baspana Market marketplace) in the “Rent Subsidizing” section. The website has no analogues in Kazakhstan.

Please note that shortly after its launch, users may experience errors. They will be promptly fixed by IT specialists. Otbasy Bank asks to treat this with understanding.

All Kazakhstan citizens who qualify under the rent subsidy program will be able to apply on otbasybank.kz in May.

The following four categories of citizens are eligible to apply for rental subsidies (those on the waiting list for housing):

– disabled people with 1st or 2nd degree of disability;
– families raising children with disabilities;
– orphans
– large families.

Families applying for rental subsidies must have an average monthly income of 1 living wage (36,018 tenge as of 01/01/2022) for the latest 6 months for each family member.

– 50 billion tenge was allocated to support our citizens in 2022. Of these, 40 billion tenge are provided from the republican budget and 10 billion tenge will be allocated by local akimats. The budget money will be available in May. With this money, we will subsidize 50% of the rent payments of 70,000 people. We have developed an online application system to make the application process quick and easy, – said Lyazzat Ibragimova, Chairman of the Board of Otbasy Bank.

One can apply for subsidies using an electronic digital signature (EDS). In case you don’t have one, be sure to get it in advance. If you already have an EDS, make sure it is still relevant.

Applicants must be clients of Otbasy Bank, that is, have a deposit. Those who do not have a savings account can open one using video banking or the Otbasybank mobile app.

Applicants will have to register on otbasybank.kz. After that, they will be able to submit applications in their personal accounts.

To submit an application, one has to sign an agreement for receiving payments and agree to the collection and processing of personal data. Once the documents are signed, the system processes the data and determines the composition of an applicant’s family. After that, each adult family member will have to log in to the otbasybank.kz website as a "guest" and sign a consent to the collection and processing of personal data using an EDS. Then, the system checks the data again and the applicant receives approval or a reasoned refusal.

If approved, the notice will show the region where an applicant can rent an apartment, the size of an apartment, the maximum rent payment, and the maximum subsidy they can qualify for. After that, the applicant must indicate the landlord’s IIN or BIN in the “Landlord Data” section.

The next stage involves a landlord. The landlord signs up on otbasybank.kz using an EDS. In the "Subsidizing rent" section, they must confirm their data. Then they must agree to the collection and processing of personal data. The system also indicates the cadastral number of the apartment that will be rented out and a 20-digit account for crediting funds. After that, the system generates a lease agreement and a payment schedule, which are signed by the parties using their EDSs.

The applicant must pay the fee of 4,810 tenge. After that, a valid lease agreement with a payment schedule appears in the applicant’s personal account.

Applicants are to look for rental housing on their own.

Otbasy Bank will pay subsidies for rental housing every month during the term of the lease agreement. It will be possible to terminate the contract ahead of time and conclude an agreement with another landlord. In this case, the application process on otbasybank.kz starts again.

Otbasy Bank will annually monitor the subsidy recipients and check if they comply with the program’s conditions and pay for rent on time. Local akimats will check rental housing and those who live there at least once a quarter.

One must not rent housing from close relatives, former spouses, and in-laws. It is prohibited to sublease rented housing.