Freedom Bank launches mortgage program with 5-10% rates amid housing demand
Freedom Bank has announced a new mortgage program with rates between 5% and 10%. The announcement was made by board member Aidos Zhumagulov at the Freedom Inside event. This move comes as Freedom Bank becomes the first to join the housing savings system since March.
New Mortgage Program
Freedom Bank has introduced a mortgage program under the housing savings system with interest rates ranging from 5% to 10%. This initiative was unveiled by Aidos Zhumagulov, a member of the bank's board of directors, during the Freedom Inside event. The program aims to provide competitive mortgage options in Kazakhstan's housing market.
Market Context
Since March 27, Kazakhstani banks have been authorized to issue mortgages under the housing savings system. Currently, Otbasy Bank is the only institution offering such mortgages. Freedom Bank's entry marks a significant expansion in the availability of these financial products.
What's Next
Freedom Bank's program is expected to launch soon, potentially increasing competition in the mortgage market. It remains uncertain how other banks will respond to this new offering.
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Freedom Bank launches mortgage program with 5-10% rates amid housing demand
