National Bank entered changes on "7-20-25" program conditions
from open sources
The National Bank of Kazakhstan has made changes to the conditions of the "7-20-25" program and expanded its options. From now on, at the initiative of the borrower, a down payment of more than 20% of the cost of the housing is allowed. Thus, the main debt and requirements of the banks for the borrower's solvency are reduced, Kazpravda.kz reports with reference to the mortgage organization Baspana.
“The previous condition was a fixed down payment, which caused certain inconveniences to customers who had more than 20% of the sum. Now citizens can influence the likelihood of mortgage approval by increasing the down payment. For banks, the credit risk is also reduced. Program "7-20- 25" keeps pace with the times, is improved taking into account the wishes of Kazakhstanis," said Kanat Abdraimov, director of the department for work with partner banks of the mortgage organization Baspana.
Currently, banks participating in the program "7-20-25" are conducting relevant preparatory work. Within the framework of the program, 8 banks issue mortgage loans: Bank CenterCredit, Sberbank, Halyk Bank, ATFBank, Jýsan bank, Bank RBK, Eurasian Bank and ForteBank.