Savings mortgage loan
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Savings mortgage loan

With the "Savings mortgage loan" product provided by the International Bank of Azerbaijan, you can now own an apartment with your accumulated income. By placing your deposit in the most reliable Bank of the country for a period of up to 3 years, you will make the initial payment of the mortgage loan together with the accrued interest. All citizens of the Republic of Azerbaijan between the ages of 18 and 60 who receive a salary from the International Bank of Azerbaijan or other banks can benefit from this product.

The Savings mortgage loan consists of two stages. Initially, you place your deposit in the International Bank of Azerbaijan, and then your deposit is calculated as an initial payment, along with the accrued interest.

Terms and conditions

Duration              

1 year, 2 years, 3 years

Prolongation

Not allowed

Currency

AZN

Reduction of the deposit amount

Not allowed

Minimum monthly collection amount

AZN300

Maximum monthly collection amount

AZN5000

Reduction of the amount of collection

Not allowed

Increase in the amount of collection

Not allowed

Early withdrawal of deposit*

Possible

*No interest is charged if the deposit amount is withdrawn ahead of time

 

Interest for the period is determined as follows:

Period

Interest rate

Payment of interest

1 year

6.5 %

At the end of the period

2 years

7 %

At the end of the period

3 years

7 %

At the end of the period

 

You can get more detailed information about the loan product here:

Find out more

Applying for a loan to buy an apartment

For those who receive a salary through the card of the International Bank of Azerbaijanüçün

Terms and conditions

Amount

Max. AZN300 000

Currency

AZN

Duration

Up to 20 years

Commission fee

No

Annual interest rate

Starting from 9%

The initial payment*

Starting from 10%

Monthly loan repayment

Up to 120% of the monthly deposit amount

Collateral

Purchased apartment

Required documents

ID cards; Document confirming official income

* The amount of the deposit calculated at the end of the term will be considered as the initial repayment of the loan.

 

For those who receive a salary through the card of other banks

Terms and conditions

Amount

Max. AZN300 000

Currency

AZN

Duration

Up to 20 years

Commission fee

No

Annual interest rate

Starting from 10%

The initial payment*

Starting from 20%

Monthly loan repayment

Up to 120% of the monthly deposit amount

Collateral

Purchased apartment

Required documents

ID cards; Document confirming official income

* The amount of the deposit calculated at the end of the term will be considered as the initial repayment of the loan.

 

FAQ

About Savings mortgage loan

  • What is a Savings mortgage loan?

The Savings mortgage loan is a product of the International Bank of Azerbaijan, which allows customers to purchase an apartment on favorable terms at the expense of the Bank's internal funds. The deposit placed with the Bank for a period of up to 3 years will be considered as the initial repayment of the loan together with the interest accrued at the end of the period.

  • What are the advantages of this product?

You will be able to place a deposit with the highest income in the most reliable bank in the country. You will receive a mortgage loan on favorable terms, and your deposit will be considered an initial payment for the apartment.

  • Who can benefit from this product?

Citizens of the Republic of Azerbaijan between the ages of 18 and 60 who receive an official salary can benefit from this product.

  • How to get the product?

The process of using the product consists of 2 stages. At the initial stage, the deposit is placed. In the second stage, the amount of the deposit calculated at the end of the period is directed to the initial payment of the apartment to be purchased, and the mortgage loan is issued at the expense of the bank's internal funds.

Conditions for placing a deposit

  • Are there any limits on the term and amount of the deposit?

The deposit can be placed on the basis of monthly savings for a period of 1, 2 or 3 years with a minimum of 300 AZN and a maximum of 5000 AZN.

  • Is it possible to change the monthly fee?

The monthly deposit amount is determined by the customer at the time of deposit placement and cannot be increased or decreased until the end of the term.

  • Is it possible to withdraw the deposit ahead of time?

In case of early withdrawal of the deposit, interest is not charged.

  • Is there a delay in a monthly payment?

Delays in the payment of fees are allowed no more than once a year.

  • What if the monthly fee is less than or more than the set amount?

If the fee is less than the set amount, no interest is charged on that amount. If there is an overpayment, the assigned amount is transferred to the savings account and the excess funds are kept in the customer's current account.

  • How is the situation regulated if the accumulated amount is less or more than the initial payment for the apartment?

If the deposit amount is less than the initial payment, the customer can pay the difference by making an additional payment at his own expense. If the deposit amount exceeds the initial payment, the excess funds can be returned to the customer upon the request.

Conditions for obtaining the Savings mortgage loan 

  • Are there any limits on the loan amount and term?

The loan can be taken for a period of 1 to 20 years with a maximum of AZN300,000.

  • Is there a commission fee?

No, there is no loan commission.

  • What are the requirements for monthly loan repayment?

The monthly loan repayment is determined on an annuity basis and should not exceed 120% of the monthly deposit amount.

  • Is there a guarantee or collateral requirements?

There is no guarantee. The purchased mortgage loan will be considered collateral.

  • What are the requirements for the purchased apartment?

The apartment should be located in Baku, Absheron, Sumgayit as a private residential area.

  • What documents are required?

Identity card, a document confirming the official salary.

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