More Than 330 Uzbeks Open Targeted Mortgage Deposits
A total of 338 citizens opened targeted mortgage deposit accounts in Uzbekistan during the first month of the pilot programme, the Economy Ministry said.
Over 330 Uzbek Citizens Initiate Targeted Mortgage Deposits
Tashkent, Uzbekistan (UzDaily.uz) – In its inaugural month, Uzbekistan's new targeted mortgage deposit program saw 338 citizens establish accounts. By August 1st, the cumulative balance across these accounts reached 23.9 billion soums, as reported by the Ministry of Economy and Finance.
Citizens were responsible for contributing 13.8 billion soums, or 57%, of the total amount, with the state budget providing the remaining 10.1 billion soums, or 43%.
Agrobank led in the number of targeted mortgage deposits, with its clients opening 141 accounts totaling 9.7 billion soums, which constitutes 41% of the overall funds. The Business Development Bank secured the second position, with 65 deposits valued at 4.6 billion soums, or 19% of the total. The People's Bank facilitated 50 deposits, amounting to 3.4 billion soums, or 14%.
Regionally, Ferghana and Khorezm regions registered the highest number of targeted mortgage deposits, each with 45. Syrdarya region recorded the lowest, with only four deposits.
The ministry also noted that Hamkorbank offers the most competitive annual interest rate for these deposits at 18%, followed by Business Development Bank at 16%.
The targeted mortgage deposit system commenced its pilot phase on July 1, 2026. These accounts are accessible to citizens who have received approval for a mortgage subsidy. The state deposits funds into the account to cover a portion of the down payment, while the borrower contributes the rest. The required personal contribution varies based on the property's value and the loan terms, and the deposit period is capped at 12 months.
The pilot program is scheduled to conclude on December 31, 2026.