Interest rate on state mortgage reduced in Kyrgyzstan to 4%

Bishkek, May 25, 2021. / Kabar /. The interest rate on state mortgages will be reduced in Kyrgyzstan from 6-8% to 4%, chairwoman of the State Mortgage Company Aida Tologonova told at a press conference at Kabar Agency.

Urmatbek Kokocharov, deputy chairman of the State Mortgage Company, added that the lending program will begin in August.

He explained that the interest will be reduced due to the fact that they will exclude the bank margin.

“We will only keep the operating costs. And therefore, we will work only with those banks that agree to work on a no-margin basis. We also plan to extend the payment period to 25 years,” he explained.