State Mortgage Company of Kyrgyzstan lowers interest rates on loans

16:46, 03 декабря 2019, Bishkek - 24.kg news agency , Baktygul OSMONALIEVA

The State Mortgage Company of Kyrgyzstan lowered interest rates on loans. Press service of the company reported.

Since November 1, 2019, interest rates on newly provided loans for employees of budget-funded organizations were reduced by 1 percent.

The new rates are:

• 8 percent per annum with an initial payment of 10 — 20 percent of the cost of housing purchased;
• 7 percent per annum with an initial payment of 20 — 30 percent of the cost of housing purchased;
• 6 percent per annum with an initial payment of 30 percent or more of the cost of housing purchased.

Rates were also reduced for those who get a mortgage for construction of individual housing — by 1 percent, that is, 10 percent per annum for the construction period and 6 percent per annum — at the end of housing construction.

The State Mortgage Company has previously issued more than 4,000 mortgage loans for about 5 billion soms.