SberBank has extended its state-backed mortgage offering for families with children. Now it covers the construction of single-family homes. Set for the entire lending term, which is up to 30 years, a discounted mortgage rate reaches 5.3% p.a., the bank informed.
The program is available to families who had a second child between January 1, 2018, and March 1, 2023, and applies to families who have a child with disabilities.
Customers can borrow up to RUB 12 mn when buying or building housing in Moscow and Moscow Region, St. Petersburg, and Leningrad region. In other parts of Russia, it's up to RUB 6 mn. Down payments start from 15%.
Under the state support program, families with children can buy apartments in new buildings from 0.1% after joining a developer subsidy program. When registering a deal online, rates start from 5% per year.
Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. The Bank is the principal lender to the Russian economy and has the highest share in the market of deposits. Sberbank provides services to customers in 18 countries. The bank has the most extensive branch network in Russia, with about 14,000 points of services. Sberbank's foreign network consists of subsidiaries, branches and representative offices in the UK, USA, CIS, Central and Eastern Europe, India, China and other countries.
The bank's authorized capital is RUB 67.76 billion. It consists of 21,586,948 thousand common shares and 1 billion preferred shares with a face value of 3 rubles each. The Russian Federation represented by the Ministry of Finance is the majority owner holding a 50% stake plus 1 voting share. Russian and international investors own the remaining 50% less 1 voting share.
