Housing construction savings system is scheduled to be launched in Bashkortostan on April 1
A system of housing construction savings is scheduled to run in Bashkortostan from April 2014, the press service of the Ministry of Finance reports. The corresponding decree of the Government RB is published on the official website of legal information.
According to preliminary data, the Savings Bank of Russia can become the system operator.
A deposit should be opened to participate in the project. For at least three years an individual should monthly transfer at least three thousand rubles on his savings deposit, while the interest rate on the deposit varies from 1 to 1.5 percent, depending on the term.
The state budget provides a 30 percent premium on the deposit, while its maximum size is limited to 10 thousand rubles. That is, if an individual credits an account from three to 10 thousand rubles, the state will transfer an additional three thousand rubles — total not more than 36 thousand rubles a year. While the upper limit of the monthly supplement by the citizen is not limited.
After the expiration of the deposit term the citizen can take a mortgage loan in a bank with a lowered interest rate of 6-7 percent. The maximum loan amount is 1.5 million rubles.
The funds in the sum of 50 million rubles in 2014 and 115 million rubles in 2015 and 2016 are allocated in the 2014-2016 budget for the provision of mortgage premiums to participants of the project. During the first year since the issue of the decree all residents of the republic may become participants of the program. In the future, only people in need of better housing conditions are expected to participate in the program.