Kazakhstan has announced the launch date for the 'Umai' mortgage program designed for working women. Applications will open on August 31, 2026, according to infohub.kz.
The program is developed in line with ESG principles and aims to expand women's access to affordable housing. Key advantages include a reduced down payment, no restrictions on owning other property, and the ability to buy a home in any city in the country.
"When a woman becomes a homeowner, her worldview changes. She looks to her future and her children's future with confidence," said Lyazzat Ibragimova, Chairperson of the Board of Otbasy Bank.
Over the three years the program has been running, 3,600 women have already received housing. Financing for the 'Umai' program is provided by the Asian Development Bank, with the first tranche totaling 9 billion tenge.
The terms of the women's mortgage require participants to be working women with official income and pension contributions over the last six months. The maximum average monthly net income for a family must not exceed 1.25 million tenge.
Applications can be submitted remotely via the 'Video Service' on the Otbasy Bank website or through the personal account on the Baspana Market marketplace.
The maximum loan amount is up to 50 million tenge, with loan terms ranging from six months to 25 years. The program allows the purchase of housing on both the primary and secondary markets. In new buildings, apartments can be purchased, including in under-construction homes, provided there is a guarantee from the Kazakhstan Housing Company. For the secondary market, there is a restriction: the house must have been built no earlier than 2016.
The program also allows not only the purchase of a first apartment but also the improvement of housing conditions by acquiring a second or third home.
The down payment depends on the region: for major cities, it is 20% of the property value, and for others, 15%.
The loan rate is 14.8% per annum (APR from 16.3% to 16.8%). The payment on the preliminary loan is split into two parts: one goes toward paying the interest, the other toward replenishing the deposit. Once 50% is reached on the deposit, one can switch to a housing loan with a rate of up to 5% per annum (APR from 5.1% to 6.9%).
The 'Umai' program was first announced after the signing of a memorandum between Otbasy Bank and the Asian Development Bank. At that time, it was reported that half of the 90 billion tenge raised would be directed to the implementation of 'Umai'.