Otbasy Bank continues to work in the direction of "5-10-20" within the framework of the Concept of development of housing and communal infrastructure for 2023-2029.
This Concept provides for lending to citizens for the purchase of housing
Who is this program intended for, what are the criteria for participants? We will tell you about these and other conditions in our material (prepared based on speeches in the media by responsible persons of authorized state bodies, the bank's Reserves).
Citizens who do not have official income can participate in the program, with the obligatory involvement of a working spouse or an adult working child as a co-borrower.
If the participant himself has income, but insufficient, it is allowed to attract co-borrowers from among any persons.
In the near future, Otbasy Bank will be transformed into a national institution for development and support.
These will be big changes related, firstly, to the expansion of the bank's functions, and secondly, to the in-depth onlineization of all services and even higher standards of transparency in all operations conducted by the Bank.
Otbasy Bank will be a full-fledged development and support institution that will centrally carry out accounting, placement and distribution of housing. To implement the tasks set, it is planned to transfer the existing queue system from akimats to Otbasy Bank, as well as to create a “Housing Center” on the basis of the Bank, which will work on the principle of “one stop shop” for all citizens in need of housing.
In this case, citizens will no longer need to apply to several instances in order to confirm their status as “in need of housing”, stand in line, and then apply to the Bank for a loan. The developed infrastructure of the Bank, information and technological resources will speed up the process of providing housing to citizens, primarily from socially vulnerable segments of the population, expand the possibility of managing the queue, and optimize the procedure for obtaining housing for citizens in need of housing.
At the same time, the Bank will continue its main activity within the framework of the housing construction savings system.
Recall that Otbasy Bank has been a participant and key operator of many state programs for many years, for example, the Nurly Zher housing construction program, the Nurly Zhol State Infrastructure Development Program, the Almaty City Youth Support Roadmap, and the Baqytty Otbasy program.
The selection will take place by the date of registration and by income from labor or entrepreneurial activity. According to the Concept, the requirements for the marginal income level (3.1 times the subsistence minimum) were eliminated, i.e. income restrictions were lifted.
At the time of submitting the loan application, the applicant should not have overdue debts in other banks. At the same time, payments on consumer loans are included in the borrower's monthly expenses.
Kazakhstanis in need of housing who are registered with local executive bodies, that is, those on the waiting list of the LEB, can become participants of the "5-10-20" program.
Queuing is a public service, which is issued through the PSC and through the e-government portal.
If a person owns an apartment or a house, he cannot stand in line. Only those who have no housing on the right of ownership for the last 5 years can participate. When queuing for housing in the cities of Almaty and Astana, a 3-year residence permit is required.
The project provides for lending to citizens for the purchase of housing on the terms of 5-10-20:
Housing can be purchased in new buildings erected by local executive bodies within the framework of the Concept, as well as housing for private developers built under the mechanism of subsidizing part of the interest rate on loans from private developers received for housing construction.
Secondary housing is not considered under this program.
The calculation of costs from the republican budget for 1 square meter of construction and purchase of housing in finishing (without the cost of engineering networks) for the regions is determined on the basis of an enlarged indicator of the cost of construction (hereinafter – UPSS) a large-panel residential building of the appropriate number of storeys, provided for each region in the collection of aggregated indicators of the cost of construction of buildings and structures, approved annually by the authorized body, or based on the average cost of 1 square meter of new housing according to the data of the authorized body in the field of state statistics for the last available reporting period, based on the lowest cost.