Penza, 25 August 2015. PenzaNews. The Penza Bank Kuznetsky now offers state-supported mortgage services to its clients.

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“As part of the Social Mortgage program of the Housing Mortgage Finance Agency, we are offering a mortgage at 10.3% with downpayment over 50%, or 10.9% with the downpayment below 50%. The mortgage for over 1.5 million rubles is offered at 11.4%,” the bank press service informed PenzaNews agency.

According to Bank Kuznetsky, the minimal downpayment for a loan from 300,000 to 3,000,000 rubles for 3 to 30 years is 20% of the cost of the purchased property.

“The mortgage with downpayment under 30% requires insurance,” the press service noted.

The Social Mortgage program is available for people involved in the program “Housing for the Russian Family,” people with two or more children, and the military industry workers, the bank representatives clarified.

The current interest rate for the Standard mortgage plan is also set at 11.4%, they pointed out.

“The minimal downpayment for the mortgage from 300,000 to 3,000,000 rubles for 3 to 30 years is 20%. The downpayment under 30% requires insurance,” the bank said.

The clients are welcome to receive additional information about mortgage services in any office of Bank Kuznetsky and on its website, the press service added.

Bank Kuznetsky was founded as a limited liability company and registered by the Bank of Russia on October 26, 1990, under No. 609. On January 19, 2012, it was transformed into OJSC Bank Kuznetsky.

On January 14, 2005, OJSC Bank Kuznetsky was included into the register of banks that are enrolled in the compulsory deposit insurance system under No. 428. In July 2015, AK&M rating agency confirmed the bank credit rating at “B++” on the national scale with a “stable” outlook.