Social project "Cumulative mortgage"

“Eldik Bank” together with the State Mortgage Company, at the initiative of the President of the country, is developing a unique social project “Cumulative Mortgage”. Within the framework of this project, a Cooperation Agreement was signed by the top officials of state companies.

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 obtaining a loan is simplified by 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 will be simplified, that is, you do not need to waste time collecting a large number of different documents and visiting government agencies. And the threshold for obtaining a mortgage is also 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.

Next, 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 Mortgage Company for 15 years.

The official launch of the social mortgage project is planned for the fall of 2024. In this regard, the National Bank of the Kyrgyz Republic will update the legislative framework on behalf of the President of the Kyrgyz Republic, and Eldik Bank and the State Mortgage Company will finalize a seamless digital solution for obtaining a mortgage.

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.

Important! In connection with the launch of a unique and unprecedented social mortgage project, and also taking into account the importance of the bank for Kyrgyzstan and its great contribution to the development of the economy and the country as a whole, a decision was made to change the name and rebrand the financial institution. The bank has become even closer to citizens and, indeed, popular. The new name chosen is "Eldik Bank".

Note that this is just the beginning of the Bank's transformation!