Authorized banks of Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan, issued during the nine months of this year, loans of 46.2 million manat, which is 26.7 million or 36.6% less than in January-September 2011.
According to the Central Bank of Azerbaijan, the average lending rate first year increased by 0.12 percentage points, to 7.03%. The average credit period reached 278 months.
The average for the monthly payment increased by 6% to 319.6 manat, the same indicator for the amount of loans fell by 1.5% to 38.79 thousand manats.
AMF agents are 27 local banks. Mortgage loans are given to Azerbaijani citizens in up to 50,000 manat for up to 25 years at a rate not higher than 8%. Concession loans are up to 35,000 manat for up to 30 years at a rate of up to 4% per annum. - 15V -
Economics
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