Baku, Azerbaijan, Nov. 13
Trend:
The International Bank of Azerbaijan (IBA), which is the authorized bank of the Azerbaijan Mortgage Fund, has simplified the mortgage loan terms.
Henceforth, the annual interest rate on a mortgage will reach 7 percent and down payment will be only 20 percent, IBA said in a message Nov. 13.
Mortgage loans are issued only in manats for Azerbaijani citizens to purchase housing registered by the state within the relevant legislation.
The maximum amount of the loan is 150,000 manats, the maximum term is 25 years.
To obtain a mortgage loan, customers should be registered via the e-mortgage portal https://www.e-gov.az/en .
The mortgage loans are issued in the IBA’s Sabail Branch at: 191, Tolstoy Street, Baku.
Information on the IBA products and services can be obtained on its official website at https://www.ibar.az/en/, in all 36 branches and 40 offices of the bank, as well as on the bank’s official Facebook page, or by calling the IBA Information Center: 937.