Mortgage Loan Refinancing: a Chance to Get an Additional Assistance

Dear clients,

Thanks to the changes and amendments (according to Resolutions #250 dated 23.12.2019 and #114 dated 21.09.2020 of the Board of the National Bank of the RoK) made to the Program for Refinancing of Mortgage Housing Loans approved by Resolution #69 of the Board of the NB of the RoK dated 24.04.2015 (the "Program"), clients of Jusan Bank (the "Bank") are entitled to apply for an additional assistance by 01.06.2021, inclusively, in accordance with provisions of the Program.

Pursuant to the Program, the additional assistance available from the Bank shall include:

  1. as to loans received by the borrowers classified as VSG[1] and refinanced under section(s) 1 and/or 2 of the Program, as well as refinanced earlier in compliance with the Program under the VSG category, provided that judicial acts, writs of execution or relevant notarial orders have been issued thereupon with the view of debt enforcement by the Bank:
    - a decrease in the borrower's principal debt;
    - establishing a repayment schedule, subject to the monthly installments in the amount from twenty thousand (20,000) Tenge and the interest rate of up to three percent (3%) per annum, while the borrower shall retain a part of his/her income equal at least to the minimum subsistence income established for the relevant financial year by the Central Government Budget Law;
    - an apartment that is deemed a collateral security on the loan shall be transferred to the Bank by the borrower/mortgager under accord and satisfaction, in order to sign a dwelling lease contract with the Bank thereafter;
  2. as to loans disbursed before 01.01.2016, which have not been refinanced earlier under the Program and the collateralized property on which has been put on the books of the Bank/DAMO[2]:
    - issuing of a new loan to buy an apartment that has been accepted and put on the books of the Bank/DAMO;
    - leasing of the apartment being on the books of the Bank/DAMO to the lessee (former owner or his/her heirs), on a buy to let basis.

If a borrower and/or a loan does/do not meet the provisions of the Program, the Bank may withhold its approval of the additional assistance.

Please contact a Bank branch for more details.


[1] Borrowers who have verified their Vulnerable Social Group status according to the laws of the RoK.

[2] The doubtful assets management subsidiary of the Bank.

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