Eldik Bank: affordable housing through savings mortgage

Eldik Bank strengthens its position as a leading financial institution in Kyrgyzstan, actively supporting citizens in improving their living conditions. 
One of the bank’s main priorities was the unique social program “Savings Mortgage”, developed jointly with the State Mortgage Company (SMC) on the initiative of the President of the Kyrgyz Republic Sadyr Japarov. Today, January 23, the bank held a presentation of the program in Bishkek, where it presented the first results and further plans for its implementation.
“Savings Mortgage” is designed to provide citizens of Kyrgyzstan, both living in the country and working abroad, with affordable and comfortable housing on the most favorable terms.One of its key advantages is that there is no need for collateral or documents confirming income. 
In 2024, Eldik Bank and State Investment Committee carried out work to amend the legislation of the Kyrgyz Republic and the legal acts of the National Bank of the Kyrgyz Republic, which allowed the project to begin implementation.According to the Accumulative Mortgage mechanism, a program participant accumulates a down payment - 30% of the value of the property - in Eldik Bank. Thus, by the beginning of 2025, more than 200 accounts have already been opened.

Next, the bank issues the citizen a preferential loan at 10% per annum for 5 years in the amount of 20% of the cost of housing without collateral. The borrower receives the remaining 50% at 8% in the State Insurance Company for 15 years. Please note that the first 5 clients who have accumulated the required amount in their accounts have already received funding.- A savings mortgage is a real opportunity for every Kyrgyz citizen to find their own home. Today's presentation showed that we are moving in the right direction in helping people build their future.We are proud that we can offer conditions that make housing accessible to all citizens, including those who work outside our country,” noted the importance of the program, Chairman of the Board of Eldik Bank OJSC Ulanbek Nogaev.