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Starting June 4، Otbyasy Bank is set to simplify its lending process by introducing a unified interest rate for intermediate housing loans. This change marks a departure from the previous floating rate system، aiming to provide greater predictability for borrowers.

Unified 8.5% Rate for Intermediate Loans

Previously، the interest rate for intermediate housing loans fluctuated between 6% and 8.5%. However، under the new policy، a single rate of 8.5% will be applied to all new intermediate loans. This adjustment is expected to streamline the application and approval process for individuals seeking to purchase property.

To qualify for an intermediate loan، applicants will need to have saved 50% of the property's value in their account، with the deposit being held for less than three years. Bank representatives also noted that a 'scoring indicator' (SI) of 5 is required for loan approval. Additionally، a minimum of six months must have passed since the deposit was made.

The scoring indicator plays a crucial role in determining loan eligibility and is linked to the applicant's financial discipline. A higher SI generally correlates with a lower interest rate، though under the new system، this variability is being replaced by a fixed rate.

New Rate Applies to New Loans Only

It is important to note that the new unified 8.5% interest rate will only apply to loans that are approved after June 4. Any loans that have already received preliminary approval will be processed under the previous terms and conditions.

Bank officials have emphasized that interest rates for standard housing loans and preliminary loans will remain unchanged. The modification exclusively affects the intermediate loan product.