Construction Savings Loan. Building savings. Construction savings in Belarus

Oh, and a long review! I hope it will be useful. Get comfortable, because you can't stop me)

Acquiring your own housing is the dream of 70% of the population, especially when you wander around rented apartments (and not just one). For the first time I heard about the Construction Savings System (CSS) about three years ago, when a consultant from Belarusbank (and for me she was a familiar aunt Katya, who worked nearby) shared with me how she built her daughter's apartment. I read on the site, talked to her again and refused this option, because renting an apartment and saving money at the same time seemed like a crazy idea.

The building savings system is a solution to your housing problem, provided that you accumulate part of your own savings and receive a loan for housing construction on favorable terms.

And then ... One of my friends and her husband bought an apartment, and two years ago my grandmother gave an apartment to another friend of mine (the principal amount was from her, her friend also contributed her investments) and my mother took care of providing me with an apartment: "All girls have apartments but my daughter doesn't!" Honestly, it was her "fire" that set fire to my interest and activity. It was December 2016. I actively studied loans in all banks, sadly assessed my chances, studied again and again got upset. And at the same time studied the prices. And suddenly ... my mother talked to her brother and asked him to help - to give money on the condition that I would not apply for my parent's apartment. The amount of cash was $ 4000, began to think what to do. And then I saw information about CCC again, I was the first to read negative reviews on airek, and then I came across a big discussion on one of the sites where users shared knowledge and chewed on each other the features of this contribution (and initially it is necessary to make a contribution). There were many pages, I read at night after work. And dreamed. At the same time, I went to the bank and consulted, asked questions and clarified points that I did not understand. I went to the bank 2 times before the stage of concluding a deposit agreement, branches and branches were different, as were consultants). Of course, it was easier for me, because. I had an amount for a contribution of 25% and the possibility of a loan in 19 months.

The building savings system consists of two stages:
accumulation of one's own savings by opening a "housing savings" deposit;
credit period.

Those. you can conclude a contract for a period of 36 months, pay in the first month the amount - 25% of the cost of the proposed housing, and after 19 months already qualify for lending. Or you can replenish your contribution in installments for 36 months and eventually accumulate the same 25%. By the way, there are three accumulative periods to choose from: 3 years, 5 or 7 years. You can get a loan within one year from the date of expiration of the contractual term of the savings stage.

I soberly assessed the risks, I understood how fragile the exchange rate in our country was and that we could lose money due to inflation. But I told you that my mother and I burned the apartment together? What odnoshechki-little ones we considered, in what areas they were! The thought warmed: tiddly, far away, but its own! Moreover, I rented an apartment in the middle of nowhere. Inexpensive odnushki at the beginning of 2017 cost about $ 16-17 thousand, they decided to borrow another $ 1000 and make a contribution. In the end, who doesn’t take risks ... The first stage was the exchange of currency for native squirrels, I changed money with my parents in the city (it was not so scary with my brother), thanks to the reviews, I already understood that the “bags of money” from the negative review - this is not an exaggeration. The exchange rate of $ was at that time about 1.93 rubles upon delivery. I exchanged the entire amount in bills of 5 rubles. - 2 000 banknotes!!! Rounded up to 10,000 Belarusian rubles. I can responsibly declare: this is a big bag of money. I had already thought in advance how to deal with this amount, because I had to open a deposit in Gomel, and it was scary and hard to travel with this backpack: I opened an account and deposited money there. Without any problems, I transferred the amount to the deposit account on 02/08/2017 and away we go...

Joined a group on housing issues, where they discussed new buildings, housing prices and ways to buy. And I tirelessly looked at apartments in advertisements ... and came to the conclusion that it was possible to aim for a kopeck piece, even if it was inferior, small ... I fell in love with apartments and “parted” with them, wept from impotence and fear for tomorrow. And I followed the changes in the legislation, in the CCC, studied the legal acts in detail. Needless to say, the discussion of buying a home has become a favorite topic? I saved the forum where you could complain and feel support, as well as my mother. 19 months have not passed - flew by. I was ready for this event, because I periodically came and took statements about changes in the amount of the deposit, and also clarified the questions that arose along the way. Unfortunately, I can tell a couple of stories about the incompetence of employees, but I was still lucky to receive professional advice both during the funded stage and the loan stage. The deadline for obtaining a loan was 09/08/2018, but we began to look at apartments since August. And jumped the course. It would seem that from 2 rubles it grew to 2.05, then 2.20, but for large sums it was a disaster ... I didn’t like apartments: either the price was not the same, then the size was like a doll’s house, then the viper was real. Nevertheless, I visited the mortgage department for a consultation. The first time they turned me around with the wording “the contribution will end, you will come,” so I was wary. And I was lucky: Irina Alekseevna Baidun became my consultant and escort. She explained everything in detail. And I found out that the queue for applying for a loan was already 2 weeks (!) And I signed up “just in case”. And she continued to search. It could be a separate big review for a loved one and several months of a nervous tick.

Important! All 19 (and I ended up with 20 months) my money on the deposit worked: they accrued% in the amount of the refinancing rate. In total, at the time of the transfer of money, my 10,000 turned into 12,179, or from $5,181 to $5,612 (at the time of the transaction, the rate "jumped" to 2.17 rubles). As a result, I even turned out to be in the black.

Refinancing rate - the rate of the National Bank of the Republic of Belarus, which is the basic tool for regulating the level of interest rates in the money market and serving as the basis for setting interest rates for operations providing liquidity to banks.

I made out the purchase of an apartment with the help of an agency, I will leave out the stages with the preparation of documents (and I basically came to sign and pick up documents). In the branch where I made a deposit, I took an extract, which indicated the amount of savings and a possible loan, and also found out the CMP coefficient. By the way, it can work both in + and in - credit. That is why the borrower can either use it or not. My CMP was 1.21, which gave me about 5,000 Belarusian rubles + to the loan!
The system of indices (coefficients) for recalculation (changes) in the estimated cost of construction is the most important tool for pricing in construction in modern conditions. Indices are used to determine the cost of construction in current (or forecast) prices and for settlements for completed construction and installation work between customers and contractors.
The main purpose of the indices (coefficients) is to take into account the factor of the rise in the cost of construction in relation to the base level.

I ordered a certificate of income in advance, because. handed it to me from another city. The bank advised me 3 guarantors, but there were only 2. And again I was lucky: the wife of one of the guarantors agreed. The certificates were also ordered by my guarantors, in the course of obtaining the certificates I went to the bank to check them. I was very afraid before the day of filing documents (preliminary contract, salary certificates, copies of passports) of some obstacles, but everything went well, I declared 2 guarantors (it was difficult for one of them to come later), left the 3rd “in reserve”. The documents were submitted on Friday, and on Tuesday evening I heard “yes”. I signed an agreement with a notary, registered it with the BTI, took it to the bank for verification. And again my Irina Alekseevna helped: I brought the documents at 16-17, and in the morning I arrived with guarantors to sign the contract. I transferred my part of the money from the deposit to the seller's account, took the payment to the mortgage department, managed to transfer part of the bank's money on the same day to the seller. I ordered the currency at my bank branch, fortunately, Elena Vladimirovna Voitekhovich (the manager of the bank branch, she also advised me on the deposit for the entire period) coordinated the work of the employee in transferring money from the deposit and ordered the currency without any problems during “off-hours” hours (applications were left until 10.30 and I was at 12).

The total amount of the loan amounted to 39,427 rubles. Due to the jump in the rate, I had to deposit my own funds, which were not provided for by the deposit, because. the bank could not issue a loan for more than 75% of the value of the apartment. The preliminary contract was concluded at a rate of 2.10 rubles, and the transaction itself - 2.17 rubles. Yes, the contract specifies the cost in Belarusian rubles, but there is a line "which is equivalent to ... thousand dollars at the exchange rate." The seller does not care about the exchange rate and everything else, he wants to receive his amount in hard currency.
For the past 1.5 months I have been living in my large apartment, ahead of repairs and 20 years of loan repayments. By the way, for the first 18 months I pay only% - 195.07 rubles, from May 2020 the main debt of 178.40 will be added.
A few words about%: when concluding a loan agreement, you can choose 2 options for the interest rate - SR +1% or the weighted average rate (I still did not understand what it is) for the term of the deposit. You can only go from the first option to the second for all 20 years. Because at the moment CMP is 10, then I chose CMP + 1, because my weighted average is 13.

The housing savings deposit of Belarusbank implies opening a deposit account in order to accumulate funds for the purchase of housing, as well as obtaining credit funds in case of a lack of own funds to complete the purchase procedure.

What savings plans exist, what advantages a deposit account has, what conditions a housing savings deposit in Belarusbank has - in more detail later in the article.

Terms of the savings and payment period

From 01.07.06 branches of Belarusbank started accepting money into deposits based on the Building Savings System.

The building savings system involves the opening of a savings bank account by a person who wants to build a home.

The savings stage is the period of funds placement, interest accrual and other nuances associated with the deposit. Upon expiration savings, the client can pay for the purchase of housing for the accumulated funds - this process is called payment stage. Further, when the client's funds run out, he can use bank loan for further housing construction.

Schematic representation of the Belarusbank Building Savings System

Conditions for participants in the construction savings system of Belarusbank the following:

Belarusian citizen/foreigner/stateless person.
Registration on the territory of Belarus.
It is necessary to conclude a contractual agreement regarding housing savings.

A deposit account on the terms of a term revocable bank deposit "Housing and savings" is opened on the basis of a housing savings agreement.

Member on their own:

chooses accumulation plan.
Determined with the amount, which will accumulate until the end of the replenishment period.
Determined with a period saving.

Based on the size of the amount, a savings schedule is prepared based on the savings period in equal monthly payments, which starts from the date of making the initial contribution to the deposit.

Important! It is not necessary to follow the prepared schedule, it is recommended for the purpose of optimal accumulation of the specified amount.

Pay attention to what can affect the elimination from the program

If the participant wishes reduce the amount, which he stated, it is necessary to write an application, which will then be considered by the head of the branch (OPERA of the Head Office, Center for Banking Services of Belarusbank). Next is add. agreement to contract housing savings and established new period dates saving.

In the same way, you can change the savings plan. Transition only can be done provided— the storage period for the Housing Savings deposit has expired and not more the base savings period of the desired savings plan.

More details about the Bank's Construction Savings System can be found at the link.

Savings plans for housing savings deposit in 2019

The savings plans for the deposit "Housing and Savings" of Belarusbank are as follows:

plan number	First	Second	The third
Replenishment period (based on the contract)	At least 19 months - no more than 36 months.	At least 31 months - no more than 60 months.	At least 43 months - no more than 84 months.
Savings period (base), years	Three	Five	Seven
Replenishment period subject to the contract, months
Minimum possible	19	31	43
Maximum possible	55	91	127
*The terms are taken into account from the day when the contractual agreement on housing savings was concluded
Indicator of the norm of the average shelf life, months.	18 and a half	30 and a half	42 and a half

Useful video:

Conditions of the housing savings deposit of Belarusbank in 2019

The housing savings deposit implies the following conditions:

The deposit is opened in the national currency(in Belarusian rubles).
An initial fee can be made both in cash and non-cash.
Forbidden opening on the data of another person.
Deposit account replenishment is acceptable until the end of the period specified in the contract.
Interest payment on a housing savings deposit are carried out from the day when the contract was concluded until the day it ends.
% rate of housing savings deposit equal to the refinancing rate National Bank of the Republic of Belarus (since February 14, 2018 - 10.5%).
The product of capitalization is carried out:

When closing a deposit.
During the implementation of the first expense on the deposit account.
At the end of the calendar year.
In the period of 139 months.(the day of the end of the monthly storage of funds until the day when the expense on the deposit is made).
At the end of 139 months(end date of the calendar year).

End date is the date that coincides with the day and month of the conclusion of the contractual agreement on housing savings.

You can familiarize yourself with the conditions of other deposits in Belarusian rubles.

Deposit calculator of Belarusbank

Deposit amount

Interest rate (%)

Cash desk of a banking organization, etc.)

Capitalization of interest that has been accrued.

Learn more about capitalization

Conclusion

mutually beneficial for the borrower and the banking organization. The latter, before the start of construction, has the opportunity to benefit from the placed funds of the client, who receives confidence in obtaining a future loan and its favorable conditions, when placing funds in the form of a deposit in a bank.

The housing savings deposit of Belarusbank is an excellent opportunity to accumulate funds in order to purchase real estate.

The conditions of the deposit make it possible to conclude an agreement both for any citizen of Belarus and for a person without citizenship, but only on condition of registration in the territory of the republic.

Partner news

Belarusbank offers an alternative
concessional housing loans

The system of construction savings can become an alternative to preferential lending for housing construction, according to JSC "ASB Belarusbank.

The system of construction savings is profitable, reliable and transparent. This is the opinion of not only the specialists of the oldest bank in the country, but also its clients, who have seen from personal experience the advantages of this method of solving the housing problem.

“When our family decided to acquire our own housing, we were looking for a suitable option for a long time,” says Anna Sidorova, a young mother who dreamed of her own housing. — The options we found impressed us, as, in fact, the amounts that were asked for them. Our savings were only enough for a quarter. Then we learned that there is such a product - a system of building savings, which allows you to save money and then buy a home on credit. We chose the shortest accumulation period - 19 months. True, the interest was lower than on other deposits, but after a year and a half and one month we were entitled to a loan on attractive terms - at a refinancing rate plus one percent. Payments turned out to be quite high.”

An innovative product for Belarus designed to solve the problem of providing citizens with housing without the participation of the state, the system of construction savings, Belarusbank offered its clients ten years ago. More than 15 thousand people became participants in the project. More than 3.5 thousand people received loans, more than 500 of which were issued this year. The figure, perhaps not so significant, nevertheless, the bank provided these people with the opportunity to solve their housing problem on their own.

The essence of the building savings system is divided into two stages: savings and payment and credit. In percentage terms, the ratio of own accumulated funds and credit should be 25 to 75.

At the first stage, anyone can come to the bank and open a housing savings deposit, indicating in the contract the amount that they are ready to invest in the construction or purchase of housing. Such a deposit is opened for a period of three to seven years. The system participant accumulates the declared amount.

True, the interest rate on such a deposit may not seem very attractive to someone. Its size is equal to the refinancing rate of the National Bank. Today it is 18% per annum, which is noticeably higher than the inflation rate, but somewhat lower than the yield on other types of deposits.

“It is important to understand why all this is being done. It is necessary to take into account the significant advantages of the system when obtaining a loan. A small interest rate on a deposit is a kind of payment for the same low interest rate on a loan, - explains Inna Rusakovich, Director of the Retail Business Department of JSC ASB Belarusbank.

The interest rate on the loan in this case is equal to the refinancing rate of the National Bank plus 1 percentage point, which today is 19% per annum. Compared to traditional loans for the construction and purchase of housing, the benefit for the consumer is obvious, because now a regular loan for real estate financing is issued at the refinancing rate of the National Bank plus 3 p.p.

Inna Rusakovich: a small interest rate on a deposit is a kind of payment for the same low rate on a loan.

It is also important that the payment of interest for using the loan is made in equal installments, which allows you to plan family budget expenses for a long period of time.

Under the Building Savings System, a loan is granted for up to 20 years, while a conventional real estate loan is for up to 15 years.

“The offer for loans for the construction or purchase of housing under the system of construction savings can be used by anyone, regardless of whether he is registered in need of improved housing conditions or not,” emphasizes Viktor Ageev, director of the population lending department. - In practice, the system works as follows. Suppose a citizen is going to buy an apartment worth 200 thousand rubles. and he already has savings in the amount of 25% of the cost of housing - 50 thousand rubles. In this case, he places this amount on a housing savings deposit. During the selected term of the savings plan, the money is kept in a deposit and interest is charged on them. After this period, the program participant transfers funds to the account of the real estate seller, and the bank provides the client with a loan in the amount of the remaining 75% of the cost of housing.

At the same time, the amount of the loan is determined not only on the basis of the amount of funds as a result of the savings stage, but also the creditworthiness of the participant, that is, the level of his income. An important advantage in calculating the loan amount is the possibility of including the income of guarantors - close relatives (family members) in the total income of the borrower.

By the way, you can repay the loan ahead of schedule

Of course, situations are not uncommon when a citizen does not immediately have the entire amount of the contribution, equal to 25% of the estimated value of the property. In this case, depending on the chosen plan (and there are three of them), the citizen makes savings on deposit until the amount of accumulation declared by him is reached.

This system has a number of undeniable advantages.

One of the attractive factors is that a member of the system can build or purchase housing in any region of the country, and also has the opportunity to transfer his/her housing savings deposit to any institution of Belarusbank free of charge, while preserving the accumulation history, without having to start over.

Anyone can become a member of the system. For example, grandparents can accumulate funds for their grandchildren, parents for children, in order to help them solve the housing problem in the future. They can assign the right to claim under a housing savings agreement to their grandchildren or children, who in the future will themselves receive a loan, build or buy housing and will themselves pay the bank for the used loan.

“Today, the system of construction savings of JSC “JSSB Belarusbank” is gaining more and more popularity, as it remains the best option for solving housing problems,” says Inna Rusakovich. In a situation where housing prices are relatively stable and inflation is slowing down, more and more people decide on long-term projects. The effectiveness of the system has already been tested by more than one thousand participants.

Construction Savings is a system for accumulating funds and lending for housing construction.

Ways of lending through construction savings are used in different countries. In Belarus, services in the field of construction savings are offered by JSC ASB Belarusbank.

How does Building Savings work?

The essence of the system is quite simple:

First, the client, i.e. a person who wants to build a house puts money into a savings bank account. The annual interest on such a deposit is low, the withdrawal is limited, as well as most other operations.

The term for placing funds in the bank is agreed in advance. Replenishment of the savings account takes place in accordance with the terms of the agreement, sometimes during the entire period of the deposit, sometimes this stage ends earlier and a period begins in which the only movement of funds on the account is the accumulation of interest.

After the end of the savings stage, the client gets the opportunity to pay for the purchase of housing with the accumulated funds. This period is called the payment stage.

Then, when the depositor's own funds are fully transferred to the housing provider, the client has the opportunity to get a loan from the bank and continue construction at the expense of borrowed funds.

The credit period depends on the terms of the agreement between the client and the bank. Other terms of the loan are also dictated by this agreement and do not fundamentally differ from other loans. But the annual interest is expected to be lower than for other housing loans.

The benefits of building savings are mutual for the borrower and lender.

The credit institution has the opportunity to use the client's money on favorable terms before the start of construction. In addition to this, during the entire period of accumulation (savings) of funds, the bank indirectly monitors the state of affairs of the client: the terms of payment, the amount of payments. The interest rate on the loan is lower than on other similar products, but this is offset by the benefit already received from the deposit and the supposedly greater reliability of the borrower.

The borrower also benefits from a stable relationship with the bank. The comparatively smaller benefit from placing a deposit appears to him as a payment for favorable conditions for a future loan and the very confidence in receiving it.

Construction savings in Belarus

In the Republic of Belarus, agreements on the system of construction savings are offered only by JSC ASB "Belarusbank". Statistics on the number of people using the service could not be found. But, judging by the reviews on the Internet, the picture seems to be this:

The system of construction savings has been available since 2006, but has not received mass distribution. The majority continues to build at the expense of concessional lending, or agree to relatively small, short-term loans.

There are clients who managed to use the system, who already live in the purchased housing and are rather satisfied with their decision. Most often they write that the transaction was executed in Minsk, the minimum period of accumulation / saving was chosen, and housing was purchased on the secondary market.

You can clarify the current credit conditions for the system of construction savings on the official website of "Belarusbank" https://belarusbank.by/ru/fizicheskim_licam/vklad_v_sisteme_stroitelnyh_sberezheniy.

Let's take a look at some of the terms of this proposal.

The ratio of own and credit funds should be 1 to 4, i.е. 25% of the cost of housing is financed from the client's contribution, 75% from a bank loan.

The minimum savings term, i.e. the period during which the deposit is in the bank is 19 months. The basic savings period is 36 months. The maximum possible duration of this stage is 127 months.

There are 3 options for a loan plan, with different terms for depositing and saving funds.

During the deposit placement period, the client is charged an annual interest in the amount of the refinancing rate of the National Bank.

After the end of the savings period according to the agreement, the payment period begins, when all the accumulated funds are transferred (in a non-cash form) to the account of the home seller.

At the end of payments, the credit period of the relationship begins. The loan repayment term is 20 years.

The interest rate on the loan depends on the refinancing rate. The client is offered two options for linking the annual percentage and the rate:

National Bank of the Republic of Belarus +1%
The weighted average refinancing rate of the National Bank of the Republic of Belarus for the period from the month of conclusion of the housing savings agreement to the month preceding the month of conclusion of the loan agreement, increased by one percentage point

The system of construction savings of the JSB "Belarusbank" has several more advantages:

Accumulated and credit funds can be used not only for housing construction, but also for the purchase of housing, including in the secondary market.
Having accumulated funds, you can transfer your right to receive a loan to other persons (however, this does not relieve the borrower from the usual verification and approval of the bank).

Other terms of agreements can be found on the Belarusbank website and be sure to check with a specialist before concluding an agreement.

Is the system of building savings in Belarus profitable? Let it be a personal choice.

If the current refinancing rate were stable, then buying an apartment according to the described scheme would eventually cost about 2.75 times more than buying without a loan. The same ratio for a preferential loan will be 1.87 times. Therefore, soft loans are much more in demand.

And before receiving a loan, there is a savings stage. During this time, the amount of the deposit cannot be withdrawn (at least partially) under the threat of a fall in the annual interest from the refinancing rate to the rate on “demand deposits”. The minimum deposit term is 19 months.

But! In the recent history of Belarus, periods of ruble stability have rarely been long. The collapse of the exchange rate at the savings stage is very unpleasant for clients, in the next credit years it promises a proportional relief of the credit burden.

If you notice a mistake in the text, please highlight it and press Ctrl+Enter

"Housing Construction Savings", or otherwise "Construction Savings Banks" for Russia, a completely new system of mortgage lending, which is still little known to citizens. Although in other countries this system has already successfully existed for more than a dozen years and allows millions of people to purchase housing at mortgage rates much lower than market rates by 4-6%. Let's understand this system and try to understand all its advantages and features.

The principle of the HCW program

The principle of functioning of housing construction savings implies a mortgage-accumulative mechanism, which provides for the purchase of housing in two stages: accumulation and lending. First, the program participant saves money to pay for part of the cost of housing on a special bank deposit, and the state credits this deposit with a budget bonus (surcharge) from the amount of the citizen's additional contributions. After the accumulation period expires, the program participant gets the opportunity to apply for a mortgage in this bank at a reduced rate.

This mechanism allows you to attract into the economy, the so-called "long" money for 3-5 years, which go to finance the construction sector, and later, when a person has accumulated a certain amount and received a mortgage loan, it stimulates demand for real estate.

The main purpose of the mechanism- to ensure the availability of mortgage lending for citizens with a low level of income.

Experience of the program in Russia and the world

The mechanism of housing construction savings first appeared in Germany in 1885. It was then that the first construction savings banks appeared. They became especially widespread after the First World War, when Germany experienced an acute housing crisis.

Since then, this program exists and develops. In addition, the experience of Germany was successfully adopted by other countries of Europe (Austria, France, Denmark, Great Britain) and America. For several years now, such a program has existed and is successfully developing in Kazakhstan.

In Russia, housing construction savings appeared several years ago. At the moment, such programs operate only in 2 regions: the Krasnodar Territory and the Republic of Bashkortostan.

Housing Construction Savings in Bashkortostan

In Bashkiria, with the support of the Government of the Republic of Belarus, the program was launched in 2014 and more than a thousand people have already applied to participate. At the initial stage, participation was available to any citizen of the Russian Federation aged 18 to 65 who had a permanent registration on the territory of Bashkortostan.

Since March 2019, the Head of the Republic of Bashkortostan R. Khabirov has signed a decree on the availability of the YCS program to all citizens of the Republic.

To become a participant in the program, a resident of the region should open a special deposit in one of the authorized banks. Further, every month for at least three years, you need to make additional contributions to the deposit of at least 3 thousand rubles. For such a deposit, the bank accrues 1.5-2% per annum (depending on the accumulation period).

At the same time, the authorities of the republic will transfer the so-called budget bonus to this contribution. In relative terms, it will amount to 30% of the replenishment amount, and in monetary terms - no more than 3 thousand rubles. For example, when a client deposits 10,000 rubles each, it will increase by another 30%, that is, by 3,000 rubles, at the expense of budgetary funds.

As soon as the accumulation period ends, the depositor has the opportunity to apply for a mortgage loan in the same bank at a rate of 6-7% per annum. The maximum term of such lending can be no more than 1.5 of the term of accumulation on the deposit. That is, if you save for 5 years, then upon completion of the accumulation, you can get a mortgage loan at a reduced rate for a period of not more than 7.5 years.

Banks participating in HSS in the Republic of Belarus

As of 2019, the partner banks of this program in the region are Sberbank (Program "Construction Savings Banks") and Uralsib (Program "Housing Construction Savings"). In the future, as it develops, it plans to add several more large banks.

The main stages of housing construction savings in the Republic of Belarus

Those who hear about this mortgage savings program for the first time ask themselves: “How can one participate in the Housing Construction Savings Program?”. In fact, there is nothing complicated here. Below is a step-by-step algorithm of actions.

Appeal of a citizen with a passport and an application of the established form to a bank participating in the system (Sberbank or Uralsib). We recommend Uralsib Bank, as the conditions for saving there are a little more profitable!
In the event of a positive acceptance of the bank and the acceptance of the Gosstroy Resp. Bashkortostan decides on the possibility of the applicant's participation in the HCS RB, the bank concludes an agreement with the applicant on opening a savings deposit.
Citizens - participants of the HSS RB system contribute funds to a savings deposit for 3-6 years.
After the expiration of the deposit period, the accumulated amount can be used as a down payment (not more than 50% of the cost of the apartment) for a mortgage with a preferential rate of 6-7% per annum.

Advantages HCW programs in the Republic of Belarus

Now let's look at the pros and cons of the program at the moment.

Under the Housing Construction Savings Program, you can apply for a mortgage at a reduced rate for the purchase of an apartment in a new building, on the secondary market, a private house or land for construction.
The program does not prohibit the pooling of the accumulated amount with another participant of the program. For example, you can save two family members at the same time. Everyone will receive an allowance from the state.
After 5 years of accumulation, if the program participant changes his mind about taking a mortgage loan, he can spend the accumulated funds along with the state premium at his own discretion. But this condition is available only to certain categories of citizens: citizens who have 1 or more children; government worker, etc. For more details, please see the program rules.
Of the minuses, only a limited number of participating banks can be distinguished.