Umai mortgage to start in two weeks

The Umai mortgage will start being issued in two weeks. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.

Lyazzat Ibragimova, head of Otbasy Bank JSC, said at a briefing in the government that the Umai mortgage for women will start in two weeks. Earlier, it was reported that the mortgage program would be relaunched in August.

"The Umai mortgage will be launched by the end of August. Today we know the amount of money provided by the Asian Development Bank. I think this program will start in two weeks," Ibragimova said.

Program terms

• 01Rate: 14.4% (annual effective rate from 15.4% to 16.4%), after accumulating 50% of the loan amount it decreases to 3.5%–5% (annual effective rate from 3.6%).
• 02Down payment: 15–20%.
• 03Loan amount: up to 50 million tenge.
• 04Term: from 6 months to 10 years.

Housing can be purchased on the primary or secondary market. Additionally, a loan for home renovation is provided, but the maximum amount does not exceed 15 million tenge.