Buying an apartment is a crucial moment in everyone's life. Many residents of Uzbekistan purchase real estate with the help of bank loans. This method of financing allows you to own your own home, repaying the loan over a certain period of time.
Consider the conditions under which banks issue mortgages and whether it is possible to save. To write the review, we used Bankchart.uz analytical research, which contains a rating of loans for the purchase of housing in the secondary market in Russian. In addition, you can learn more about the conditions of mortgage lending in Uzbek on the website https://uz.prostobank.com/.
Bankchart.uz studied the conditions for providing loans for the purchase of housing in the secondary market for a period of 15 years in the national currency. The website's analysts examined the loan offers of more than 30 Uzbek banks.
As of 07.05.2023, the studied loans are provided by 7 banks. The average real rate on such loans is 24.50% per annum. The total number of mortgage programs for the specified period is 8.
The most affordable loan for the purchase of housing in the secondary market is offered by Ipoteka-Bank - 18.00% real per annum under the Ma'kul Mortgage program.
Below in the table, Bankchart has selected one of the best offers from the bank (in terms of value) for the mentioned conditions.
TOP 7 best loan programs for the purchase of housing in the secondary market for 15 years as of 05/07/2023
1. Bank: Ipoteka-Bank. Program: "Ma'kul mortgage". Real rate, 18 % per annum
2. Bank: Orient Finance Bank. Program: "Ipoteka". Real rate, 23 % per annum
3. Bank: People's Bank. Program: "Kulai". Real rate, 25 % per annum
4. Bank: Hamkorbank. Program: "Mortgage loan at the expense of the bank's own funds". Real rate, 25 % per annum
5. Bank: InFinBank. Program: "Mortgage lending". Real rate, 25.99 % per annum
6. Bank: Uzpromstroybank. Program: "Mortgage for any housing". Real rate, 26 % per annum
7. Bank: Ravnaq-bank. Program: "Mortgage loan". Real rate, 28 % per annum
And now it’s fair to say, you can save money on bank commissions and interest rates by choosing a bank with a minimum rate. If you take a loan for the sum of 5,000,000 UZS in the first bank, the overpayment on the loan in the warehouse is 6,787,500 UZS. If you take a loan in the amount of 5,000,000 Uzbek soums at a rate of 28%, then you will overpay the sum of 10,558,333 Uzbek soums in the warehouse. Therefore, by choosing a bank with a low interest rate, you can save 3,770,833 UZS on loans.
