Article 2. The basic concepts used in this Law of the Law on Housing Construction Savings in the Republic of Kazakhstan

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The following basic concepts are used in this Law:

1) preliminary housing loan - a targeted loan provided by a housing construction savings bank to a depositor within the limits of the agreed amount in order to improve housing conditions, without the condition of repayment of the principal debt until receipt of the agreed amount, the balance of which is repaid at the expense of the agreed amount in accordance with this Law, the internal credit policy of the bank and the terms of the bank loan agreement;

2) interim housing loan - a targeted loan provided by a housing construction savings bank to a depositor in order to improve housing conditions, subject to the accumulation of the minimum required amount of accumulated money, the balance of which is repaid at the expense of the contractual amount under the housing construction savings agreement in accordance with this Law, the bank's internal credit policy and the terms of the bank loan agreement;

3) an estimated indicator is an estimated value determined by the housing construction savings bank for each contract to form the order of payment of the contractual amounts.;

3-1) special accounts for lump–sum pension payments - a current bank account opened by a recipient of lump-sum pension payments from an authorized operator designated by the Government of the Republic of Kazakhstan for crediting lump-sum pension payments from a single accumulative pension fund in order to improve housing conditions and (or) pay for medical treatment;

4) the amount of accumulated money is the money actually accumulated by the depositor, consisting of his deposits, accrued remuneration from the housing construction savings bank and government bonuses;

5) the minimum required amount of accumulated money is the money specified in the housing construction savings agreement for obtaining a housing loan;

6) accumulation period - the period of time during which the depositor accumulates housing construction savings;

7) the interest rate on the loan is the interest rate paid by the depositor under housing construction savings and bank loan agreements for the loan provided by the housing construction savings bank as a percentage of the principal debt based on the annual amount of money owed to the housing construction savings bank;

8) commission fee - money that is paid by the depositor to the housing construction savings bank for services in concluding a housing construction savings agreement;

 8-1) depositor of savings for major repairs of the common property of the condominium facility – an association of owners of the property of an apartment building or a management entity of a condominium facility, when the owners of apartments and non-residential premises of an apartment building choose a form of management of the condominium facility in the form of direct joint management, which has concluded an agreement with a housing construction savings bank on the accumulation of funds for major repairs of the common property of the condominium facility, which acts on behalf of the owners of apartments, non-residential premises, parking lots places, storerooms of an apartment building

9) state bonus - money allocated annually from the republican budget and accrued on the accumulated amount of the deposit at the end of the year and remuneration of the housing construction savings bank;

10) the interest rate on the deposit is the interest rate charged by the housing construction savings bank under the housing construction savings agreement on the actually accumulated deposit balance at the end of the year in accordance with the internal documents of the housing construction savings bank.;

11) tariff program - an internal document of the housing construction savings bank, which determines the interest rates on deposits and other conditions of accumulation and lending, as well as the amount of commission fees of the bank;

12) housing loan – a targeted loan provided to a depositor and a depositor of savings for the overhaul of the common property of a condominium facility for the purposes provided for in paragraph 8 of Article 3 of this Law, in accordance with the terms of a bank loan agreement, agreements on housing construction savings or on the accumulation of funds for the overhaul of the common property of a condominium facility;

13) housing construction savings - money accumulated by depositors in housing construction savings banks to obtain a housing loan with an accrued interest rate on the deposit and a premium from the state in order to carry out measures to improve housing conditions;

14) the housing construction savings system is a closed system of financing measures to improve housing conditions based on attracting investors' money to housing construction savings, government premiums accrued on them and providing them with housing loans in accordance with this Law and the terms of the housing construction savings agreement.;

15) housing construction savings agreement - an agreement between a depositor and a housing construction savings bank and (or) between a depositor, a housing construction savings bank and third parties, including one concluded through the bank's agent(s) in accordance with this Law and the internal documents of the housing construction savings bank;

16) contribution (deposit) to housing construction savings - money deposited by the depositor or third parties to the depositor's account opened in the housing construction savings bank in accordance with the terms of the housing construction savings agreement;

17) depositor of housing construction savings (depositor) - an individual who has concluded an agreement on housing construction savings with a housing construction savings bank;

18) remuneration of the housing construction savings bank - money accrued by the housing construction savings bank in accordance with the interest rate on the deposit;

19) contractual amount - the amount of money required by the depositor to carry out measures to improve housing conditions, consisting of housing construction savings and a housing loan.

The Law of the Republic of Kazakhstan dated December 7, 2000 No. 110.

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Republic of Kazakhstan

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