Eldik Bank and GIK have concluded a general agreement on “Cumulative Mortgage”

Eldik Bank and the State Mortgage Company launched a unique social project, Cumulative Mortgage, developed for citizens of the Kyrgyz Republic living in the country and working abroad. Today, the heads of state institutions signed a general cooperation agreement.

Earlier, a memorandum was signed between the companies, after which joint work was carried out to amend the legislation and the NPA of the NBKR. After the completion of all activities, a general cooperation agreement was signed, which will allow us to begin covering and implementing the project in the near future.

The project is aimed at increasing the availability of state housing financing and providing housing to the country's population. It is designed to establish the most favorable and easily accessible mortgage terms in Kyrgyzstan for citizens both living in the country and working abroad.
The main advantages of the Cumulative Mortgage are the most favorable interest rates and ease of registration. The availability of a loan is simplified through the opportunity to save up for long-awaited housing on flexible terms, transparently and with a state guarantee. Within the framework of this program, the procedure for collecting the necessary documentation has been simplified and the threshold for obtaining a mortgage has been simplified.

The initial payment - 30% of the cost of the property - the citizen accumulates in the bank, monthly (at least 6 months) according to the schedule replenishing the savings account, the systematic replenishment of which will be one of the main factors confirming your creditworthiness.

Then, the bank issues him a 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 Housing Institution for 15 years.

Details on the mechanism for obtaining a mortgage and the official launch will be additionally widely covered in the media and on our information platforms.

It should be noted that the social mortgage project "Cumulative Mortgage" was developed on the instructions of the President of the Kyrgyz Republic S. Japarov, in order to increase the availability of the state housing program and provide housing to citizens, both living in the country and working abroad.