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Basic parameters and terms of lending |
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1.1. |
Features of consumer credit |
Term loan |
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1.2. |
Name of loan product |
Mortgage loan |
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1.3. |
Citizenship requirement |
Residents and non-residents of the Republic of Uzbekistan |
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1.4 |
Purpose of the loan product |
For the purchase of housing |
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1.5 |
Loan currency |
In national currency; sum (UZS) |
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1.6 |
Loan term |
The maximum period without a grace period is 120 (one hundred and twenty) months |
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1.7 |
Interest rate/ down payment |
Interest rate |
25-60 months |
61-84 months |
85-120 months |
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Down payment 25% |
25,5% |
26% |
28% |
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Interest rates for individuals without official income Down payment (>=30%) * |
25,5% |
26% |
28% |
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* The initial contribution must be at least 30 (thirty) % for self-employed individuals, as well as for individual borrowers who do not have official income. |
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1.8
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Conditions for consideration of the loan application submitted by the borrower and decision making on this application |
Up to 10 (ten) working days (with the submission of a complete set of documents) |
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1.9
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Maximum loan amount |
Up to 5 450 basic settlement values (1 853 000 000 - one billion eight hundred and fifty three million UZS currently) |
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1.10 |
A set of required documents |
• Original copy of the identity document of the borrower and co-borrower (passport, ID card, residence certificate, etc.); • Preliminary contract for the sale of a house to be purchased; • Document on the market price of the house to be purchased; • Cadastre copy of the house to be purchased; • Information on the borrower's average monthly income is obtained by the bank independently in electronic form via special networks. If it is not possible to determine the average monthly income of the borrower, documents confirming the sources of income may be required from the borrower. |
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1.11
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Type of provision (collateral) |
• Collateral of real estate being purchased at a value of not less than 115% of the loan amount, third party guaranty; • Providing temporary collateral – other real estate for the purchase of housing if the cadastral documents of the housing to be purchased are not read; |
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1.12 |
Requirements for borrower |
• Age from 21 to 60 years at the period of loan repayment; • No negative credit history; • Absence of overdue debts in banks and/or credit institutions; • Based on the average monthly income of the borrower, no more than 60% should cover the repayment of principal and interest payments; • When a person who does not have the citizenship of the Republic of Uzbekistan becomes a borrower, a guarantor of a citizen of the Republic of Uzbekistan may be required (based on the place of work of the non-resident); • Individuals who do not have an official income, state their income which is sufficient for the loan payment (through a bank account number). |
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1.13 |
Requirements for co-borrower |
• Age from 21 to 60 years old (60 years old at the period of loan repayment); • No negative credit history; • Absence of overdues (debts) in banks and/or credit institutions; • 60% of the combined average net income of the borrower and co-borrower must be sufficient to cover the highest monthly loan repayment and the average monthly payment for all existing loans and other liabilities. |
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1.14 |
Credit allocation form |
Non-cash transfer of funds to the seller’s account based on the sales contract |
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1.15 |
Validity of the loan decision |
30 (thirty) days
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1.16
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Periodicity of interim payments |
Monthly |
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1.17 |
Form of payment |
Annuity or differentiated payment |
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