The building savings system is:
the possibility of providing housing in any city;
obtaining a loan, regardless of the need to improve housing conditions;
solving your housing problem by accumulating part of your own savings and obtaining a loan for the construction or purchase of housing on more favorable terms.
With the help of the construction savings system of Belarusbank, you can purchase or build an apartment (individual residential building) regardless of the place of opening a deposit account, solve housing problems not only for yourself, but also for your relatives and friends.
The building savings system consists of two periods:
the period of accumulation of own savings by opening a term deposit "Housing-accumulative";
credit period.
First period. The period of accumulation of own savings by opening a term deposit "Housing savings".
You can make a term deposit "Housing-accumulative" in any branch of Belarusbank.
By joining the building savings system, you choose the most convenient accumulation plan and independently determine the accumulation period and the amount of money invested in the construction or purchase of housing. The term of accumulation of funds is 3, 5 or 7 years.
When depositing the amount of your own funds to the term deposit "Housing-accumulative" ahead of schedule, you also have the opportunity to receive a loan ahead of schedule.
Income on the term deposit "Housing-accumulative" is accrued in the amount of the refinancing rate of the National Bank of the Republic of Belarus and is added to the deposit on a monthly basis.
Second period. Loan period.
Lending to a system participant is carried out after the end of the first period.
The Bank gives you the opportunity to conclude a loan agreement to pay for the construction or purchase of housing;
Having accumulated funds on the "Housing and savings" term deposit, you can transfer the deposit and your right to receive a loan to another person (parents - to children, nephews, grandchildren and others), and the loan can be issued at the place of registration of another person, taking into account his solvency;
Having accumulated funds in the amount of 25% of the cost of housing, you have the opportunity to receive a loan for the missing amount to pay for the construction or purchase of housing in the amount of up to 75% of the cost of housing;
The term for using the loan (up to 20 years) and the procedure for paying interest are determined similarly to the term and procedure for paying interest established for soft loans for housing construction;
The interest rate for using the loan corresponds to the level of the refinancing rate of the National Bank of the Republic of Belarus + 1 percentage point, which is 2-5 points lower than the rates on loans on a general basis;
Payment of interest for using the loan is made in equal installments and does not depend on the need to improve housing conditions, which will allow you to plan family budget expenses for a long period of time;
When changing the refinancing rate of the National Bank of the Republic of Belarus, the interest rate for using a loan is changed both for newly concluded and for previously concluded loan agreements.
Additional Information:
"Green number" 8 801 100 4444; 8 801 100 5454
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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 country's oldest bank, 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 their 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 small 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.
If you do not have a horde of 3-4 children, and your arms and legs are intact, then you will hardly be able to qualify for a soft loan for construction.
And even if you can, it is unlikely that you will stand at his expense, those square meters that you are counting on. Not to mention the fact that in any European country the rates on mortgages open to the mass market are lower than on our concessional loans.
Ordinary lending has turned into a catastrophically unclaimed banking service. for very impressive sums, the average family cannot.
But, in general, loans are not the only way to “get into the construction site”.
Silence of the Lambs
One of the alternative instruments is the building savings system. On July 1, it will be 9 years since it started functioning on the basis of Belarusbank. In fact, the mechanism has not received wide application and is based today only on financing at the expense of Belarusbank itself without any state injections.
The last bravura mention of the building savings system (as they say, in sue) is dated last year and belongs to former head of the Belarusian regulator Nadezhda Yermakova:
“The National Bank is developing a system of construction savings, because such forms of lending have been operating in many countries of the world for a long time. And a citizen who wants to have housing must save up himself.”
The statement about the independent participation of citizens in construction and acquisition is true and justified, as history has shown, massive concessional lending sooner or later leads to a surge in prices, speculation in the real estate market and, as a result, devaluation.
The building savings system is based on market mechanisms and, as practice shows, has taken root well in many countries of the world. Unfortunately, the National Bank did not provide its developments, perhaps the banking minds are sculpting something ingenious, or perhaps they simply forgot about it.
And most likely the latter. Because in May 2015 new Chairman of the Board of the National Bank told reporters that before the European housing lending mechanisms and "rates, as in Poland" will have to wait another 3-4 years, no less. The market is not the same.
What's the price?
The savings system, like everything in this world, has its own pros and cons.
The positive aspects of this mechanism can be safely attributed to the fact that the system itself consists of two parts - savings and payment. Savings period - the time during which the depositor's money is deposited at a small percentage. It is impossible to withdraw, it is possible to replenish, if stipulated by the terms of the contract. There is a risk, but more on that later.
Secondly, it is possible to be a member of the system regardless of "neediness" and registration, and the purchase or construction of housing can take place throughout the republic.
As for the numbers, the loan itself can be issued for an amount equal to no more than 75% of the cost of housing, for a period of up to 20 years, with an interest rate for using the loan or in the amount of the refinancing rate plus one point (today it is 26%), or in the amount of the weighted average refinancing rate of the National Bank for the period from the month of the conclusion of the agreement to the month preceding the month of the conclusion of the loan agreement, increased by one percentage point.
Payment of interest for the use of the loan is made in equal installments, funds from the account are transferred to the address of their final recipient by bank transfer.
By the way, within the framework of one housing savings agreement, a participant can build (purchase) only one dwelling.
Jump into the last car of the departing train
The whole system has been tested and is viable, if not for one "but", unfortunately, our real estate prices are tightly tied to the dollar, and the whole system operates in rubles, so participating in it there is a risk of not making money, but lose all savings in the next devaluation.
The experience of the last 9 years, during which there has been a whole series of depreciations of the Belarusian ruble, shows that between the jumps in the exchange rate there is always time to enter the building savings system and have time to pay off credit. But it must be taken into account that the time between jumps is decreasing, and the minimum period for which you need to deposit money is at least 19 months.
Grated rolls
- When, after graduating from high school, I faced the issue of acquiring my own housing, the only available option was the building savings system, - shared her story with the CHOOSE!BY project Belarusbank client Ksenia. -I could not use a preferential loan, since I was a newcomer, to purchase on the secondary market or build from scratch, as a young specialist, even with the help of my parents, I was not able to. A year and a half flew by quickly, by the time the loan period began, I didn’t even have time to look after myself. As a result, the choice fell on a one-room apartment in Sukharevo for 65 thousand dollars.
According to the interlocutor, sellers respond quite adequately to settlements through the building savings system, so there were no problems here.
- I chose to pay by the system rate ref +1 p.p. As a result, when the rate jumped at the end of 2014, my payments increased. It upset. Today I pay 7 million, and before the rise it was 6 million,- concluded the girl.
Specialist of one of the real estate agencies Eugene commented on the story of buying an apartment under the system of building savings.
- In our time, all methods are good, says a real estate expert. - The system of construction savings is beneficial when everything is calm on the market, but in general, if our state, for example, as in Europe, would pay a bonus to the participants in the system and simplify the tax system, then preferential lending could be completely closed so as not to produce dependency. But, unfortunately, while the idea is stalled.
The system has been stalling for almost 10 years, but it could be a good help to both construction and banks. Well, we are waiting for the promised. 3 years, the countdown has begun.
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.
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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 | The first | Second | 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
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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.
