BTA Bank to Provide Lending for Purchase of Dwellings Under the Terms of Share Participation within New Agreement16.02.2012
Almaty, February 16, 2012 – Today BTA Bank JSC and Kapstroigroup LLC entered into Cooperation Agreement. Within this Agreement the Bank will grant loans to the individuals for share participation in the construction of apartment residential house in Otegen Batyr settlement of Almaty region, which is currently being constructed by Kapstroigroup LLC real estate developer. Agreement terms provide for initial installment for the amount not less than 15% of the whole price of acquired apartment. Interest rate under the loan is from 12.5% (annual effective rate – from 12.77%), lending period – up to 20 years.
Cooperation of the Bank and Kapstroigroup is special due to the fact that the parties have launched lending mechanism for purchase of dwellings under the share participation agreements. Therefore, today BTA Bank is the only financial institution in the country to grant loans under the standard terms for purchase of both secondary and primary dwellings.
Kapstroigroup LLC has the license to attract interest-holders and performs all requirements of the regulator.
BTA Bank provides programs of mortgage lending on advantageous terms (low interest rate, opportunity of granting loans without initial installment). In particular, the Bank already provides lending to the borrowers acquiring apartments in Apple Town and Edelweiss residential complexes under the operating partnership programs. Also the Bank offers refinancing of mortgage loans obtained from other banks, both under its own program with a discount of up to 2%, and within the program of Samruk-Kazyna National Welfare Bank JSC.
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