Mortgage loan

Terms of loan

Terms and conditions of granting a mortgage loan for the purchase of housing and renovation of housing in the primary and secondary markets at the expense of funds raised by the Mortgage Refinancing Company of Uzbekistan.

1. Conditions for granting a mortgage loan in accordance with the Decree of the President of the Republic of Uzbekistan No. UP-5715 dated 13 May 2019 on Additional Measures to Develop and Expand the Mortgage Loan Market

• The loan purpose is to purchase housing and repair residential premises
• The loan source includes the funds of Mortgage Refinancing Company of Uzbekistan.
• Requirement for the borrower: citizens of the Republic of Uzbekistan from 18 to 60 years old.
• Loan period:
  - from 120 to 240 months maximum for the purchase of housing in the primary and secondary markets
  - up to 120 months for the repair of residential premises
• Grace period: N/A
• Interest rate:
  - 17.5% for the purchase of housing in the primary and secondary markets;
  - 16.5% for the repair of residential premises.
• Down Payment –
  - min. 25% for the purchase of housing from the primary and secondary markets
  - 0% for the repair of residential premises.
• Payment type: annuity
• Maximum loan amount:
  - 400 million UZS for the purchase of housing in the primary and secondary markets
  - 80 million UZS for the repair of residential premises.
• Housing insurance: 100% replacement cost of housing.

Requirement for the borrower

• Age: 18 to 60 years old;
• Joint borrowers must be family members (children and spouses);
• Borrower's debt load should not exceed 50%;
• Family income should not exceed 15 million UZS;
• The income must be stable for the last 6 months;
• There should be no overdue debts for previous loans;
• There should be no mortgage loans previously provided by credit companies.

Documents to be submitted:

• ID document;
• Housing purchase and sale agreement;
• Report on the assessment of the housing market value;
• Documents related to the co-borrower;
• Estimate for the repair of existing housing.

2. Conditions for granting mortgage loans in accordance with the Decree of the President of the Republic of Uzbekistan No. UP-33 dated 9 December 2021 on Additional Measures to Provide Housing to the Population by Granting Mortgage Loans on the Basis of Market Principles" 

• Purpose of the loan: purchase, construction and reconstruction of housing

• Source of the loan: funds of the Ministry of Finance of the Republic of Uzbekistan.

• Requirement for the borrower: citizens of the Republic of Uzbekistan from 18 to 60 years old.

• Period: 20 years.

• Grace period: 6 months.

• For individuals with official income
  - 18% per annum with 15% down payment;
  - 17.5% per annum with 40% down payment.

• For individuals without official income
  - 18% per annum with 40% down payment.

• Maximum loan amount
  - In regions - up to 327.25 million UZS;
  - In Tashkent - up to 416.5 million UZS.

• Type of payment - annuity or differentiated

• For individuals who have received notices of subsidies.

• Subsidies of 32 million UZS are available to cover part of the down payment, irrespective of the housing cost.

• Subsidies are allocated from the state budget to cover part of the interest rate that has exceeded 10 percentage points in the last 5 years.

The down payment and subsidies allocated to cover part of the interest payments are paid when the area and price of the housing to be purchased do not exceed the limit and the calculated cost of housing.

You can apply to any branch of our bank in all regions, except Tashkent, regarding the construction and reconstruction of individual housing.

3. Mortgage loan provided at the expense of own funds of NBU JSC of the Republic of Uzbekistan:

Mortgage loans for construction, reconstruction, repair and purchase of housing.

• Loan period - 120 months (grace period up to 24 months);
• Standard
  - 26% per annum with 25% down payment;
  - 24% per annum with 40% down payment.
• Participants in the Bank's Salary Project
  - 25% per annum with 25% down payment;
  - 23% per annum with 40% down payment.
• Under the Bank at Workplace project
  - 24% per annum with 25% down payment;
  - 22% per annum with 40% down payment.

For individuals without an official income - a down payment of at least 40% of the housing cost.

Мaximum loan amount:

3,000 reference calculation values for the construction, reconstruction, and repair of housing; no limits for the purchase of housing.

Loan Arrangements

The housing to be purchased is accepted as collateral.

Required documents

• Passport/ID card;
• Income Certificate of the borrower and co-borrower (if necessary);
• Contract signed with a construction contractor for the purchase of housing on the primary market;
• A copy of the document confirming the ownership of private housing or an apartment in a multi-storey building on the secondary market;
• Certificate of Down Payment transferred to the deposit account, which is issued for the borrower;
• Design & Estimate Documentation and Expert Opinion prepared by a design organization that has a special license for the construction and reconstruction of private property;