Beginning from the 1st August 2017 JSC Zhilstroysberbank of Kazakhstan (subsidiary of "Baiterek" Holding) combines all previously effective tariff programs into one. Now a single tariff savings program “Baspana” replaces four programs: “Bastau”, “Orken”, “Kemel” and “Bolashak”.
The program becomes more flexible and it does not provide a specific time for savings, as it was before. In other words now it is a bank depositor who decides the period of savings and the loan interest he will get. Estimated score will be the main criterion determining the loan period and the interest rate. This is a kind of an index for financial discipline. The more regular and fuller the client makes contributions, the higher he gets the estimated score.
However bank depositors have to meet minimum values, namely savings period of three years and estimated score of up to 16. In this case bank’s client can claim a loan at a rate of 5% per annum. Then, if his period of savings is 4 years, the estimated score grows up to 20 and the loan rate decreases to 4,8%. Thus, as the period of savings grows, the estimated score will grow proportionally and accordingly the loan rate will decrease. The lowest loan rate is 3.5% per annum.
There are no fundamental changes. The innovation is to optimize a product line making it as simple and available as it is possible. Also program “Baspana” will greatly decrease the number of operations to be made after the deposit. Now the depositor shall only answer three questions – about price of his future residential property, amount of the first contribution and sum of affordable monthly contributions. Depending on the answers, the bank’s client will easily make up a housing plan and go to his goal, - explained Zhanar Zhubaniyazova, Deputy Chairman of the Board.
Zhanar Zhubaniyazova mentioned that all deposits opened before the 1st August 2017 will be managed by the bank till full execution of obligations by the parties concerned.
Also new tariff program “Baspana” will make it possible to open deposits for a minimum amount of 500 MCI (1 134 500 tenge), to increase a contracted amount, to unite deposits, to make concession between family members and relatives.
For more information bank’s clients can contact the nearest branch of ZSSBK or bank’s consultants. Visit https://www.hcsbk.kz to find addresses of consultation centers.
Example on how to calculate housing plan if you are going to purchase a single-room apartment in Almaty.
The depositor shall tell the bank manager an amount that he is ready to contribute on his deposit in the ZSSBK every month. For example, he is able to contribute 100 000 tenge. With such contributions, he can save 50% of the property cost during 6 years (the calculation is made without taking into account the accrued premium and bank fee). The bank will grant a loan for 9 years at a rate of 4.2% per annum. The monthly payment is 78 400 tenge.
JSC Zhilstroysberbank of Kazakhstan is the only bank in the country servicing the system of housing construction savings. Zhilstroysberbank is the participant of the European Federation of Construction Savings Banks (EFCSB) and the International Union of Housing Finance. The only shareholder of Zhilstroysberbank is JSC "National Managing Holding "Baiterek".