Otbasy Bank has received 850 applications from Kazakhstani women under the Umay program, the bank reported. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
Applications for the program began today, November 3. Funding for lending to Kazakhstani women was allocated by the Asian Development Bank. This is the second tranche under the program aimed at providing housing loans. Its volume was approved at 20 billion tenge.
"From the very first minutes of the application period, high interest in the program was evident. According to the bank's data as of 15:00, 524 applications totaling 12.5 billion tenge had been received," the statement said.
At 16:00, application intake was closed due to the full utilization of the established limit of the second tranche. By that time, 850 applications totaling 20 billion tenge had been received from Kazakhstani women. Of these, 352 applications were submitted through bank consultants.
All applicants received preliminary approval for a loan under the program. The preliminary approval is valid for one month. During this time, participants must select a home and submit a loan application to purchase it.
The high demand for the program is due to its favorable terms. In particular, participation is possible without a competition, the down payment is reduced, and housing can be purchased on both the primary and secondary markets. Additionally, participants are not required to have no existing property.