On November 3, Kazakhstan opened applications for the Umay women’s mortgage program, releasing a second tranche from the Asian Development Bank worth 20 billion tenge.
The first tranche of 9 billion tenge was fully claimed in seven hours on August 31. The program’s terms remain unchanged: a maximum loan amount of 50 million tenge for purchasing real estate, 15 million tenge for renovations, and an interest rate of 14.8% annually. A participant’s household income must not exceed 1.25 million tenge.
Otbasy Bank expanded application channels to include consultants across Kazakhstan, online video banking, or branch visits. During the previous round, applicants reported technical glitches with online submissions due to heavy traffic.