Kazakhstan launches second stage of Umai women's mortgage programme: how to apply

Applications have opened for the second stage of Umai, a women's mortgage programme in Kazakhstan, according to Otbasy Bank. The bank said 20 billion tenge has been allocated for this stage. Loans can be up to 50 million tenge. The interest rate is 14.8 percent a year, while the effective rate (GESV) is 16.3-16.8 percent.

The down payment starts at 20 percent in Astana and Almaty and at 15 percent in other cities. The family's average monthly net income must not exceed 1,250,000 tenge, and official income must be confirmed for the last six months. The bank noted that the borrower pays the down payment directly to the seller from her own funds.

Applications can be submitted through bank consultants by video call or at a consultation centre. An online application is also possible through the video service on the bank's official website. A personal visit to an Otbasy Bank branch is required to submit a loan application, and married applicants must come with their spouse. Up to two co-borrowers may be added, and they do not have to be relatives.