Construction savings system loan. Construction savings

Construction savings is a system of accumulating funds and lending for housing construction.

Lending methods through construction savings are used in different countries. In Belarus, services in the field of construction savings are offered by JSC JSB Belarusbank.

How do Construction Savings work?

The essence of the system is quite simple:

First the client, i.e. a person who wants to build housing puts money into a savings account in a bank. The annual interest on such a deposit is small, withdrawals are limited, just like most other operations.

The period for placing funds in the bank is agreed upon in advance. The savings account is replenished according to the terms of the agreement, sometimes during the entire period of placement of the deposit, sometimes this stage ends earlier and a period begins in which the only movement of funds in the account is the accumulation of interest.

After the end of the savings stage, the client has the opportunity to pay for the purchase of housing with the accumulated funds. This period is called the payment phase.

Then, when the investor’s own funds are fully transferred to the housing provider, the client has the opportunity to obtain a loan from the bank and continue construction using borrowed funds.

The credit period depends on the terms of the agreement between the client and the bank. Other terms of the loan are also dictated by this agreement and are not fundamentally different from other loans. But the annual interest is assumed to be lower than for other home loans.

The benefit of construction savings is mutual for the borrower and the lender.

The credit institution has the opportunity to use the client’s money on favorable terms before construction begins. In addition to this, during the entire period of accumulation (savings) of funds, the bank indirectly monitors the state of affairs of the client: the timing of deposits, the amount of payments. The interest rate on the loan turns out to be lower than for other similar products, but this is compensated by the benefits already received from the deposit and the supposedly greater reliability of the borrower.

The loan recipient also benefits from a stable relationship with the bank. The comparatively smaller benefit from placing a deposit seems to him to be a payment for the favorable conditions of a future loan and the very confidence of receiving it.

Construction savings in Belarus

In the Republic of Belarus, agreements on the construction savings system are offered only by JSC JSB Belarusbank. It was not possible to find statistics regarding the number of people who used the service. But judging by the reviews on the Internet, the picture seems like this:

The construction savings system has been available since 2006, but has not become widespread. The majority continue to build through concessional lending, or agree to relatively small, short-term loans.

There are clients who were able to use the system, already live in the purchased housing and are rather satisfied with their decision. Most often they write that the transaction was formalized in Minsk, the minimum accumulation/saving period was chosen, and the housing was purchased on the secondary market.

You can clarify the current loan conditions for the construction savings system on the official website of Belarusbank https://belarusbank.by/ru/fizicheskim_licam/vklad_v_sisteme_stroitelnyh_sberezheniy.

Let's look at some of the defining conditions of this proposal.

The ratio of own and credit funds should be 1 to 4, i.e. 25% of the cost of housing is financed from the client’s deposit, 75% from a bank loan.

Minimum savings period, i.e. the period during which the deposit is in the bank is 19 months. The basic savings period is 36 months. The maximum possible duration of this stage is 127 months.

There are 3 loan plan options available, with different terms for depositing and saving funds.

During the deposit placement period, the client is accrued annual interest in the amount of the National Bank's refinancing rate.

After the end of the savings period according to the agreement, the payment period begins, when all accumulated funds are transferred (in non-cash form) to the account of the home seller.

Upon completion of payments, the credit period of the relationship begins. The loan repayment period is 20 years.

The interest rate on the loan depends on the refinancing rate. The client can choose from two options for connecting the annual percentage and rate:

• National Bank of the Republic of Belarus +1%
• Weighted average refinancing rate of the National Bank of the Republic of Belarus for the period from the month of concluding a housing savings agreement to the month preceding the month of concluding a loan agreement, increased by one percentage point

The Belarusbank construction savings system has several more advantages:

• Accumulated and loan funds can be used not only for housing construction, but also for the purchase of housing, including on the secondary market.
• Having accumulated funds, you can transfer your right to receive a loan to other persons (however, this does not relieve the borrower from the usual verification and approval of the bank).

Other terms of agreements can be found on the Belarusbank website and be sure to check with a specialist before concluding an agreement.

Is the construction savings system in Belarus profitable? Let it be a personal choice.

If the current refinancing rate were stable, then buying an apartment according to the described scheme would ultimately cost about 2.75 times more than buying without a loan. The same ratio for a preferential loan will be 1.87 times. Therefore, preferential loans are still much more in demand.

Also, receiving a loan is preceded by a savings stage. During this time, the deposit amount cannot be withdrawn (even partially) under the threat of a fall in the annual interest rate from the refinancing rate to the rate on “demand deposits”. The minimum deposit period is 19 months.

But! In the recent history of Belarus, periods of ruble stability have rarely been long. The collapse of the exchange rate at the savings stage is very unpleasant for clients; in the next credit years, this promises proportional relief of the credit burden.

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Belarusbank's housing savings deposit involves opening a deposit account for the purpose of accumulating funds for the purchase of housing, as well as obtaining credit funds in the event of a lack of own funds to complete the purchase procedure.

What savings plans exist, what advantages does a deposit account have, what conditions does a housing savings deposit have in Belarusbank - more details later in the article.

Conditions of the savings and payment period

From 07/01/06 branches of Belarusbank started accepting money into deposits based on the Construction Savings System.

The construction savings system involves opening a deposit account in a bank by a person who wants to build housing.

The savings stage is the period of placement of funds, the calculation of interest and other nuances associated with the deposit. Upon expiration savings, the client can pay for the purchase of housing using accumulated funds – this process has a name payment stage. Next, when the client's funds run out, he can take advantage bank loan for further housing construction.

Schematic representation of the Belarusbank Construction Savings System

Conditions for participants in the Belarusbank construction savings system following:

1. Citizen of Belarus/foreigner/stateless person.
2. Registration on the territory of Belarus.
3. A contractual agreement regarding housing savings must be concluded.

A deposit account on the terms of a fixed-term revocable bank deposit “Housing and Savings” is opened based on a housing savings agreement.

Participant independently:

• Selects savings plan.
• Determined with the amount, which will accumulate until the end of the replenishment period.
• Determined with period term saving.

Based on the amount of the amount, a savings schedule is prepared based on the savings period in equal monthly payments, which begins from the date of making the initial deposit.

Important! It is not necessary to follow the prepared schedule; it is recommended for the purpose of optimal accumulation of the specified amount.

Please note what may affect your disenrollment from the program

If the participant wishes reduce the amount, which he stated, then it is necessary to write an application, which will then be considered by the head of the branch (OPERU Head Office, Center for Banking Services of Belarusbank). The following is add. agreement to the contract housing savings and are installed new dates for the period saving.

You can change your savings plan in the same way.. Transition only can be done provided— the storage period for the Housing and Savings Deposit has expired and not more the basic savings period of the desired savings plan.

More information about the Bank's Construction Savings System can be found here.

Saving plans for housing savings deposit in 2019

The accumulation plans for the Housing and Savings deposit of Belarusbank are as follows:

Plan No.	First	Second	Third
Replenishment period (based on agreement)	Not less than 19 months. – no more than 36 months.	Not less than 31 months. – no more than 60 months.	Not less than 43 months. – no more than 84 months.
Savings period (base), years	Three	Five	Seven
Replenishment period taking into account the contract, months.
Minimum possible	19	31	43
Maximum possible	55	91	127
*The terms are taken into account from the day when the contractual agreement for housing savings was concluded
Average shelf life norm, months.	18 and a half	30 and a half	42 and a half

Useful video:

Terms of housing and savings deposit of Belarusbank in 2019

The housing savings deposit implies the following conditions:

• The deposit is opened in national currency(in Belarusian rubles).
• An initial fee may be entered both in cash and non-cash.
• Forbidden discovery of another person's data.
• Deposit account replenishment is acceptable until the end of the period specified in the contractual agreement.
• Interest payment for housing savings deposits are carried out from the day when the contract was concluded until the day of its expiration.
• % housing savings deposit rate equal to the refinancing rate National Bank of the Republic of Belarus (from February 14, 2018 – 10.5%).
• Capitalization is carried out:

1. When closing a deposit.
2. When making the first expense on the deposit account.
3. At the end of the calendar year.
4. During the period of 139 months.(the end date of the monthly storage of funds until the day when the deposit will be spent).
5. At the end of 139 months.(end date of the calendar year).

• Expiration date is the date that coincides with the date and month of concluding the contractual agreement on housing savings.

You can familiarize yourself with the conditions of other deposits in Belarusian rubles.

Belarusbank deposit calculator

Deposit amount

Interest rate (%)

Cash desk of a banking organization, etc.)

Capitalization of interest that has been accrued.

More details about capitalization

Conclusion

mutually beneficial for the borrower and the banking organization. The latter, before the start of construction, has the opportunity to benefit from the deposited funds of the client, who gains confidence in receiving a future loan and its favorable conditions when placing funds in the form of a deposit in a bank.

Belarusbank's housing and savings deposit is an excellent opportunity to accumulate funds for the purpose of purchasing real estate.

The terms of the deposit allow both any citizen of Belarus and a stateless person to conclude an agreement, but only subject to registration on the territory of the republic.

We continue the competition of readers' stories “My Housing”, in which everyone can tell how they bought an apartment in tight financial conditions. Today, reader Natalya from Baranovichi will compete for a certificate from the Papa Carlo furniture fittings and materials center. With the help of the construction savings system, her family managed to move from a two-room apartment to a three-room apartment, which Natalya is in a hurry to tell readers about.

In 2017, my husband and I had a small two-room apartment with a total area of ​​47 square meters. m with good repair in the city of Baranovichi. We have two children, I’m on maternity leave, we can’t expect financial help from anyone, and besides, we still owe $1,700 for the two-room apartment we lived in. Yes, it was possible to save money, take out a loan at a high interest rate, but we wanted to live for our own pleasure. Therefore, having learned from my husband’s relatives about a loan for housing construction using the construction savings system, we began to act.

We had 2 options: the first was to open our own deposit, put 25% of the cost of the apartment in the bank and wait 19 months, the second was to find someone else’s deposit with an overdue loan, issued before 02.2016, and persuade the depositors to transfer it to us for a fee (after 02.2016 the contribution can be assigned only to relatives).

Of course, we liked the second option more, but there were a lot of people like us, and sometimes the deposit was “received” by the one who offered the largest reward, and it, as a rule, was 1/3 of the deposit amount.

We put the apartment up for sale and at the same time were looking for a deposit and new housing, and also thought through options for where we could get money. The search for a deposit dragged on, and we decided to open our own deposit, but we needed money for this - $5,000. The amount of $3,300 was borrowed from relatives for 19 months, and $1,700 was borrowed for 3 years under a program for pensioners, which had the lowest interest rates (the loan was also issued to relatives).

But somehow I didn’t want to sit, wait and be afraid of everything that could happen in 19 months. There were different situations: sometimes they found the required contribution, sometimes they found a buyer for the apartment, but in the end everything did not work out. One day we saw an advertisement on the Internet about the assignment of a deposit. The investor requested $1,300 as a reward. The amount on deposit was $10,000, and the loan that was due for it was about $30,000.

We urgently needed to find money for a deposit. We took out a loan at high interest rates, as we planned to return the money quickly. The deposit is in hand, then we urgently sell the apartment, cunningly putting pressure on the buyers. And with the choice of a new apartment, the issue was decided in advance. All that remains is to bargain.

Baranovichi UKS offered 80 “squares” in a new brick building for $40,500 for those in need and for $44,000 for others. Bargaining with a developer, especially a state-owned one, is a futile task, so we bet on the “resale” and were right: an apartment with a total area of ​​80 sq. m. m on the 7th floor of a brick house built in 2011, which was initially offered for $47,000, was sold to us for $43,000.

Our total debt was $13,000: $1,700 for the old apartment, $10,000 for the deposit, $1,300 for the deposit. We sold our apartment for $26,000, paid off all the debts, and we had $13,000 left, and had another $10,000 on deposit. We transferred money for the apartment in 3 stages. First, a deposit was used - $10,000. Then they took out a loan - $25,000. Then another $8,000 was transferred in cash. As a result, we still had money in our hands.

Partner news

Belarusbank offers an alternative
preferential housing loans

The construction savings system can become an alternative to preferential lending for housing construction, they say OJSC "ASB Belarusbank".

The construction savings system is profitable, reliable and transparent. This is the opinion not only of specialists from the oldest bank in the country, but also of its clients, who have seen from personal experience the advantages of this method of solving the housing problem.

“When our family decided to get our own home, we spent a long time looking for a suitable option,” says Anna Sidorova, a young mother who dreamed of her own home. “The options we found impressed us, as did the amounts that were asked for them. Our savings were only enough for a quarter. Then we learned that there is such a product - a construction savings system that allows you to save up money and then buy a home on credit. We chose the shortest accumulation period - 19 months. The interest, however, was lower than on other deposits, but after a year and a half and one month we had the right to receive a loan on attractive terms - at the refinancing rate plus one percent. The payments turned out to be quite affordable.”

An innovative product for Belarus designed to solve the problem of providing citizens with housing without state participation—a system of construction savings—Belarusbank offered its clients ten years ago. Over 15 thousand people became participants in the project. More than 3.5 thousand people received loans, and over 500 of them were issued this year. The figure may not be so significant, nevertheless, the bank provided these people with the opportunity to solve their housing problem on their own.

The essence of the construction savings system is to divide it into two stages: savings and payment and credit. In percentage terms, the ratio of your own accumulated funds and credit should be 25 to 75.

At the first stage, anyone can come to the bank and open a housing savings deposit, indicating in the agreement the amount that they are willing to invest in the construction or purchase of housing. Such a deposit is opened for a period of three to seven years. The system participant accumulates the declared amount.

True, the interest rate on such a deposit may not seem very attractive to some. Its size is equal to the refinancing rate of the National Bank. Today it is 18% per annum, which is noticeably higher than the inflation rate, but slightly lower than the yield on other types of deposits.

“It is important to understand why all this is being done. It is necessary to take into account the significant advantages of the system when obtaining a loan. A small interest rate on a deposit is a kind of payment for the same small interest rate on a loan,” explains Inna Rusakovich, director of the retail business department of JSC ASB Belarusbank.

The interest rate on the loan in this case is equal to the refinancing rate of the National Bank plus 1 percentage point, which today is 19% per annum. When compared with traditional loans for the construction and purchase of housing, the benefit for the consumer is obvious, because now a regular loan for real estate financing is issued at the refinancing rate of the National Bank plus 3 percentage points.

Inna Rusakovich: a small interest rate on a deposit is a kind of payment for the same small interest rate on a loan.

It is also important that interest on the loan is paid in equal installments, which allows you to plan family budget expenses for a long period of time.

A construction savings loan has a term of up to 20 years, while a regular home loan has a term of up to 15 years.

“Anyone can take advantage of the offer for loans for the construction or purchase of housing through the construction savings system, regardless of whether he is registered as needing to improve housing conditions or not,” emphasizes Viktor Ageev, director of the population lending department. — In practice, the system works as follows. Suppose a citizen is planning to purchase an apartment worth 200 thousand rubles. and he already has savings in the amount of 25% of the cost of housing - 50 thousand rubles. In this case, he places this amount on a housing savings deposit. During the selected period of the savings plan, the money is kept in the deposit and interest is accrued on it. After this period, the program participant transfers funds to the account of the real estate seller, and the bank provides the client with a loan in the amount of the remaining 75% of the cost of housing.”

In this case, the size of the loan is determined not only based on the amount of funds as a result of the savings stage, but also on the creditworthiness of the participant, that is, the level of his income. An important advantage when calculating the loan amount is the possibility of including in the total income of the borrower the income of guarantors - close relatives (family members).

By the way, you can repay the loan early

Of course, there are often situations when a citizen does not immediately have the entire contribution amount equal to 25% of the estimated value of the property. In this case, depending on the chosen plan (and there are three of them), the citizen makes savings in the deposit until the amount of the savings amount declared by him is reached.

This system has a number of undeniable advantages.

One of the attractive factors is that a participant in the system can build or purchase housing in any region of the country, and also has the opportunity to transfer his housing savings deposit on a free basis to any Belarusbank institution, preserving the accumulation history,” without having to do everything start over.

Anyone can become a participant in the system. For example, grandparents can accumulate funds for their grandchildren, parents - for their children, thereby helping them solve their housing problem in the future. They can assign the right to claim under a housing savings agreement to their grandchildren or children, who in the future will receive a loan themselves, build or buy housing, and will themselves pay the bank for the used loan.

“Today, the construction savings system of JSC ASB Belarusbank is becoming increasingly popular, as it remains the most optimal option for solving housing problems,” says Inna Rusakovich. In a situation where housing prices are relatively stable and inflation is slowing down, more and more people are deciding on long-term projects. The effectiveness of the system has already been tested by more than one thousand participants.