Otbasy Bank has asked the Asian Development Bank to disburse the second tranche of the Umai subsidized mortgage program ahead of schedule. Deputy Chairman of the bank's management board Zhansultan Matay announced this at a briefing at the Central Communications Service, according to infohub.kz.
The need for early release of the second tranche stems from high demand among Kazakh women. Matay noted that 855 applications were received on the day the program launched. All participants have already received preliminary approval and are now searching for housing to finalize their loans.
Matay added that the increased demand for the women's mortgage program will not affect the selection criteria for participants.
"The average loan amount requested among program participants was 23.4 million tenge. The youngest participant is 18 years old, and the oldest is 63. The average age of participants was 39," he specified.
The deputy chairman recalled that the program is financed by the Asian Development Bank. Under the first tranche, it allocated 9 billion tenge, but Otbasy Bank expects to receive the remaining portion ahead of schedule.
"We will announce the next application date separately. In total, we have 90 billion tenge allocated for the financed program," the speaker concluded.
Earlier, Kursiv wrote that working women with official income and pension contributions for at least the past six months will be able to participate in the program. The maximum loan amount will be up to 50 million tenge, and the mortgage can be taken out for a term of six months to 25 years.