The project of issuance of mortgage loans on preferred terms by Azer Turk Bank allocated from funds of MIDA LLC


Azer Turk Bank is acting as the agent bank of MIDA LLC from February 1, 2018. The Bank started the process of issuing preffered mortgage loans on the following terms:

Amount - max. 100000 AZN
Terms – from 3 to 30 years
Annual interest rate - 4%
Prepayment - min. 10%
Payment method – Annuity

Documents required for acquiring a mortgage loan:

  • Identity card of the borrower (borrowers) and a notarized copy thereof.
  • Notarized copy of the certificate of marriage (divorce or spouse death) and identity card of spouse.
  • The document provided by Civil Registry Board if the borrower is not married
  • Notarized copy of identity cards of adult and juvenile family members living together with the borrower (borrowers).
  • Reference about the family composition of the borrower (borrowers)
  • Document confirming that the borrower belongs to a preferential category.
  • The borrower’s (borrowers’) contract of employment or a copy of the employment record book verified by the relevant HR Department (each page shall be verified)
  • Documents confirming the borrower’s (borrowers’) incomes (references from the primary employer, additional employer if applicable, bank extractions from the salary cards etc.)
  • Copy of only cover part of the SSPF
  • Mortgage property appraisal certificate

Additional documents required if the borrower is an individual entrepreneur:

  • Entrepreneur’s certificate of registration by the tax agencies (copy thereof).
  • Tax report of a simplified or income tax statement approved by the tax agencies.
  • Financial statement report drawn up by tax agency for the last 24 months 

Preferred mortgage loans are issued to the citizens registered in Low-Cost Housing System, having their private online cabinet and chosen housing option:

1. Following members of young families:

  • Members of martyr’s family (spouse, children);
  • National Hero (themselves, spouse, children);
  • IDPs or persons with an equivalent status;
  • Person who was employed as a public servant for at least 3 years, as well as those who serve for a special type of public service;
  • Teacher working for a general education school for at least 5 years;
  • Person with PhD degree;
  • Persons with outstanding athletic accomplishments (honorary physical education and athletic trainers, winners of national competitions (I place), medalist of international competitions (I, II or III place)).

2. Person with the degree of doctor of sciences;
3. Employees of scientific organizations, meeting the requirements of the Law “On science” of the Republic of Azerbaijan, following the decree number 1560 of the President of the Republic of Azerbaijan from July 21, 2017.
4. Person who was employed as a public servant for at least 15 years, as well as those who serve for a special type of public service;
5. Military servicemen of the Republic of Azerbaijan employed in the military service for at least 3 years, including those who are in the reserve forces and those who are retired from military service (except for the active military servicemen), (except for the military servicemen who are in the reserve forces and those who are retired from military service in the cases specified by the clauses 41.0.6, 41.0.7, 41.0.8, 41.0.10, 42.0.3, 42.0.4 and 42.0.5 of the Law “On military title and military service” of the Republic of Azerbaijan);
6. Person with special title who served for the authorities of internal affairs for at least 3 years.
7. Person employed as a science servant and having at least three scientific degrees 

Note: The family or person having right to use preferential mortgage loan, may use this right only once.
  
 
   

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