Terms of military mortgage VTB 24

At VTB24 Bank, servicemen who are already participants in the accumulative mortgage system (or NIS) can take out a loan to buy housing with special conditions. What are the advantages of this particular bank?

Terms of military mortgage VTB24

1. The interest rate for the military starts at 12.5%. Only young people under 24 years old can count on such conditions. For a thirty-year-old employee, this figure is already rising to 13.1%. The older the person, the higher the interest on the loan... The contract also stipulates that the rate may change every year. The maximum it can reach is 15% per year.
2. The amount that a bank can provide for a loan depends on the age of the person. At the age of 21, the maximum amount on a military mortgage VTB24 is 2 million 10 thousand rubles for a period of 14 years, at 41 years - 660 thousand for 3 years.
3. Military service must be at least one year.
4. Equal payments are made every month to repay the loan.
5. Housing can be purchased both in a new building and on the secondary market.
6. The bank also allocates funds for the purchase of military mortgage objects - houses, apartments or land.
7. The purchased living space does not have to be the main one. It is also allowed to purchase additional housing under the military mortgage program at VTB24.
8. Such a mortgage cannot be obtained by a person over 45 years old.
9. Every month you need to provide the bank with certificates of salary in order to prove your ability to systematically repay the loan.
10. It is imperative to insure only the safety of the property. Other types of insurance are optional.
11. The bank allows the loan to be repaid before the expiration date, subject to the recalculation of the interest rate. Penalties and other additional fees will not be required.
12. The loan is secured by the property being purchased.

A serviceman can apply for a military mortgage at VTB24 Bank from any part of the Russian Federation.

How the accumulative mortgage system works

The accumulative mortgage system has been operating in the Russian Federation for several years. It was created so that young military personnel could realize the right to permanent housing at the beginning of their careers. NIS helps to buy an apartment or house using a targeted housing loan. The system participant himself chooses the place of his dwelling, its parameters and conditions.

Where do the participants' accumulations come from?

Every year the state allocates funds from the federal budget for contributions (they are, of course, indexed). A soldier who has been participating in the NIS for more than three years can use the savings for the down payment on the mortgage. According to VTB24 requirements, the amount must be at least 15% of the total cost of the apartment. It is allowed to use your own savings and maternity capital to pay the first installment. The bank provides a loan to pay the remaining cost. The mortgage can be repaid at the expense of NIS funds, which, as before, are allocated from public funds.

Note that the NIS participant does not receive cash, but a kind of certificate. The allocated funds cannot be spent on any other needs, except for the purchase of housing space.

How to get a mortgage for military personnel

Military mortgage VTB 24 is issued no more difficult than in other banks in Russia.
Having decided to buy real estate, you need to leave an online application (provided that wages are charged through this bank) or write an application for detailed consultation.

Bank employees usually process requests within 4-5 business days. This decision will be considered valid for another 4 months (or 122 calendar days).

What documents do a potential borrower and guarantor need to prepare?

• application form (you can view the form at the link);
• passport of a citizen of the Russian Federation;
• TIN (individual taxpayer number) or SNILS (certificate of compulsory pension insurance);
• a certificate that confirms the right of a participant in the accumulative mortgage system to receive a housing loan.

When considering an application, bank employees may ask for additional documents (for example, data on marital status). During the collection of documents, the best solution is to consult with the mortgage manager of the bank. Such an employee will help to solve the arising problems of each particular case.

How the loan is repaid

A significant advantage of VTB24 is the variety of mortgage payment forms. You can choose any most accessible and convenient way:

• through the VTB-online system (for this, you first need to become a member of the service in one of the bank's branches);
• through VTB ATMs, which are available in almost any city in our country (for convenience, you can issue a bank card and connect it to the military mortgage agreement);
• through the bank's cash desk (note that both the borrower and a third party can pay in this way);
• through another bank using the money transfer service;
• via Russian Post (if the loan is received in Russian rubles).

In general, the terms of the military mortgage VTB24 are quite transparent and understandable. There are no pitfalls in the contract, for example, hidden fees or other unpleasant surprises.

An important advantage is freedom of action in choosing an insurance company and a form of mortgage payment.