“Sharq bahori” mortgage loans

 No. 

 Indicator name

 Terms

 1

 Client

 Individual (citizen of the Republic of Uzbekistan)

 2

 Loan purpose

 Purchase of housing (an apartment) in the “Sharq bahori” residential complex being built by the New Tashkent City Development Directorate state institution

 3

 Maximum loan amount

 up to UZS 700.0 million

 3.1

Depending on the  funding source

 From Ministry of Economy and Finance resources

 From the bank's funds

 up to UZS 420.0 million

 up to UZS 280.0 million

 Should the maximum amount of mortgage loan refinancing approved by a decree or resolution of the President of the Republic of Uzbekistan and/or a resolution of the Cabinet of Ministers change in the future, the established limit amount will be changed accordingly.

 4

 Down payment

 For the portion allocated from Ministry of Economy and Finance resources

 For the portion allocated from the bank's funds

 15 percent

 20 percent

 (in this case, payments made toward the apartment price at auction may also be accepted as the down payment)

 5

Annual interest rate

For clients with a steady income

From Ministry of Economy and Finance resources

From the bank's funds

17 percent

17.9 percent

For self-employed clients

From Ministry of Economy and Finance resources

From the bank's funds

17.9 percent

17.9 percent

 5.1

 Interest calculation terms — fixed or variable

Variable: if, after the cadastral documents for the apartment purchased with the loan have been drawn up and state-registered, the borrower fails to pledge the apartment to the bank within 20 days in the established manner, the loan's annual interest rate (until the pledge is made) changes to 25 percent. This condition must be stated in the loan agreement.

 6

 Term

For a term of no more than 240 months.

 7

 Borrower age requirement

Being at least 18 and not more than 60 years of age (60 years inclusive) on the date of applying for the loan.

(it must be taken into account that the age must not exceed 60 years at the time of refinancing by the Ministry of Economy and Finance)

 8

 Eligibility criteria for borrowers/co-borrowers (individuals):

- having permanent employment and a source of income sufficient to pay the accrued interest and principal on the loan monthly in accordance with the repayment schedule;

- the debt burden ratio must not exceed 50 percent.

- no overdue debt to the bank or other credit institutions at the time the mortgage loan application is reviewed.

- using a mortgage loan allocated under this program for the first time

(in this case, loans obtained by the borrower before 1 May 2024 are not taken into account)

 9

 Loan-to-value (LTV) ratio

 For the portion allocated from Ministry of Economy and Finance funds

 LTV≤85%

 For the portion allocated from the bank's own funds

 LTV≤80%.

 10

 Delivery of housing

(submission to the bank as collateral)

 By the end of Q2 2027.

 11

 Repayment method

 Annuity or differentiated method

 12

 Number of co-borrowers

 up to 4 persons

 13

 Collateral

 - the housing (apartment) purchased with the loan.

 - until the construction of the housing purchased with the loan is completed, the cadastral documents are drawn up and it is pledged as collateral, a guarantee from the New Tashkent City Development Directorate for an amount of not less than 125 percent of the loan amount is accepted.

 Once construction is completed and the cadastral documents are drawn up, the collateral for the loan is replaced by a mortgage on this housing.

 14

 Other conditions

1. A continuous delay of 90 (ninety) days by the client in loan payments during the period from when the mortgage loan is disbursed to the client until the housing (apartment) purchased with the loan is fully registered with cadastral documents and pledged as collateral shall be grounds for the bank to unilaterally terminate the mortgage loan agreement concluded with the client, and for the loan payments to be fully repaid from the funds of the “New Tashkent City Development Directorate.”

 No. 

 Indicator name

 Terms

 1

 Client

 Individual (citizen of the Republic of Uzbekistan)

 2

 Loan purpose

 Purchase of housing (an apartment) in the “Sharq bahori” residential complex being built by the New Tashkent City Development Directorate state institution

 3

 Maximum loan amount 

 up to UZS 900.0 million

 3.1

 Depending on the funding source

 From Ministry of Economy and Finance resources

 From the bank's own funds

 up to UZS 420.0 million

 up to UZS 480.0 million

 Should the maximum amount of mortgage loan refinancing approved by a decree or resolution of the President of the Republic of Uzbekistan and/or a resolution of the Cabinet of Ministers change in the future, the established limit amount will be changed accordingly

 4

 Down payment 

 For the portion allocated from Ministry of Economy and Finance resources

 For the portion allocated from the bank's funds

 15 percent

 20 percent

 (in this case, payments made toward the apartment price at auction may also be accepted as the down payment)

 5

Annual interest rate

For clients with a steady income

 From Ministry of Economy and Finance resources

 From the bank's funds

 17 percent

 18.9 percent

For self-employed clients

 From Ministry of Economy and Finance resources

 From the bank's funds

 17.9 percent

 18.9 percent

 5.1

 Interest calculation terms — fixed or variable

 Variable: if, after the cadastral documents for the apartment purchased with the loan have been drawn up and state-registered, the borrower fails to pledge the apartment to the bank within 20 days in the established manner, the loan's annual interest rate (until the pledge is made) changes to 25 percent. This condition must be stated in the loan agreement.

 6

 Term

 For a term of no more than 240 months.

 7

 Borrower age requirement

 Being at least 18 and not more than 60 years of age (60 years inclusive) on the date of applying for the loan.

(it must be taken into account that the age must not exceed 60 years at the time of refinancing by the Ministry of Economy and Finance)

 8

 Eligibility criteria for borrowers/co-borrowers (individuals):

 - having permanent employment and a source of income sufficient to pay the accrued interest and principal on the loan monthly in accordance with the repayment schedule;

 - the debt burden ratio must not exceed 50 percent.

 - no overdue debt to the bank or other credit institutions at the time the mortgage loan application is reviewed.

 - using a mortgage loan allocated under this program for the first time (in this case, loans obtained by the borrower before 1 May 2024 are not taken into account).

 9

Loan-to-value (LTV) ratio

 For the portion allocated from Ministry of Economy and Finance funds

LTV≤85%

 For the portion allocated from the bank's own funds

LTV≤80%.

 10

 Delivery of housing

(submission to the bank  as collateral)

 By the end of Q2 2027

 11

 Repayment method

 Annuity or differentiated method

 12

 Number of co-borrowers

 up to 4 persons

 13

 Collateral

 - the housing (apartment) purchased with the loan.

 - until the construction of the housing purchased with the loan is completed, the cadastral documents are drawn up and it is pledged as collateral, a guarantee from the New Tashkent City Development Directorate for an amount of not less than 125 percent of the loan amount is accepted.

 Once construction is completed and the cadastral documents are drawn up, the collateral for the loan is replaced by a mortgage on this housing.

 14

 Other conditions

 1. A continuous delay of 90 (ninety) days by the client in loan payments during the period from when the mortgage loan is disbursed to the client until the housing (apartment) purchased with the loan is fully registered with cadastral documents and pledged as collateral shall be grounds for the bank to unilaterally terminate the mortgage loan agreement concluded with the client, and for the loan payments to be fully repaid from the funds of the “New Tashkent City Development Directorate.”

 No. 

 Indicator name

 Terms

 1

 Client

 Individual (citizen of the Republic of Uzbekistan)

 2

 Loan purpose

 Purchase of housing (an apartment) in the “Sharq bahori” residential complex being built by the New Tashkent City Development Directorate state institution

 3

 Maximum loan amount

 in an amount not exceeding UZS 800.0 million

 4

 Funding source

 From the bank's own funds

 5

 Term

 For a term of no more than 120 months.

 6

 Down payment

 For those with a steady income

 For the self-employed

 20 percent

 20 percent

 (in this case, payments made toward the apartment price at auction may also be accepted as the down payment)

 7

 Annual interest rate

 With a steady income

 Self-employed

 23 percent

 24 percent

 8

 Borrower age requirement

 Being at least 18 and not more than 60 years of age (60 years inclusive) on the date of applying for the loan.

 9

 Eligibility criteria for borrowers/co-borrowers (individuals)

 - having permanent employment and a source of income sufficient to pay the accrued interest and principal on the loan monthly in accordance with the repayment schedule;

 - the debt burden ratio must not exceed 50 percent.

 - no overdue debt to the bank or other credit institutions at the time the mortgage loan application is reviewed.

 10

 Loan-to-value (LTV) ratio

 LTV≤80%.

 11

 Delivery of housing

(submission to the bank as collateral)

 By the end of Q2 2027

 12

 Repayment method

 Annuity or differentiated method

 13

 Number of co-borrowers

 up to 4 persons

 14

 Collateral

 The housing (apartment) purchased with the loan.

 - until the construction of the housing purchased with the loan is completed, the cadastral documents are drawn up and it is pledged as collateral, a guarantee from the New Tashkent City Development Directorate for an amount of not less than 125 percent of the loan amount is accepted.

 Once construction is completed and the cadastral documents are drawn up, the collateral for the loan is replaced by a mortgage on this housing.

 15

 Other conditions

 A continuous delay of 90 (ninety) days by the client in loan payments during the period from when the mortgage loan is disbursed to the client until the housing (apartment) purchased with the loan is fully registered with cadastral documents and pledged as collateral shall be grounds for the bank to unilaterally terminate the mortgage loan agreement concluded with the client, and for the loan payments to be fully repaid from the funds of the “New Tashkent City Development Directorate”.