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Bank Standard issues 366 mortgage loans via AMF

22 September 2011 07:57 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Since the resumption of mortgage lending via Azerbaijan Mortgage Fund, Bank Standard responded positively to requests for 395 out of 561 who applied for a loan to buy a home.

Bank says the number of loans given via AMF amounted to 366, total sum â€“ AZN 14.7 mln. Of these, 21 credits totaling AZN 700 thousand, issued to the military and young families on preferential terms (social mortgage).

Mortgage loans via AMF are issued by the Bank Standard to citizens in the national currency of the mortgage term to 25 years at 8% per annum. The interest rate under the social mortgage is 4% per annum and shall be issued for up to 35 years.

It should be noted that, Bank Standard is one of the agent banks operating under the Central Bank Mortgage Fund from the outset of this fund. Applications will be accepted at the branch, "Mortgage", which is specialized in mortgage lending.