"Mənzil" loan

Mortgage loan is a product intended for the purchase of apartments without a title deed in newly built residential complexes.

Mortgage loans up to AZN 300 000 are issued for a period of up to 20 years with an annual interest rate of 9 and 10%.


* Terms might change depending on the partner company

Who can benefit ?

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Client requirements

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Terms

Maximum amount

AZN 300 000

Duration

up to 20 years

Annual interest rate

9% and 10%

Minimum down payment

10%

Security

Pledge of purchased property* / Pledge of other real estate**

Type of payment

Monthly annuity

Commission fee

(from 10 years to 20 years)

6% 

· 5% (paid by the construction company)

· 1% (paid by the construction customer)

Commission fee

(up to 10 years)

1% 

· 0% (paid by the construction company)

· 1% (paid by the construction customer)

Fine for delay

No fine

Note: "Mənzil" loan are issued in Sabail, MXD, Sumgayit and Narimanov branches.

FAQ

About a mortgage loan

  • What is mortgage loan?

A mortgage product is offered to customers who want to buy an apartment in a building built by a construction company that partner with the Bank ABB.

  • What are the advantages of mortgage loans?

No insurance costs (no property and life insurance).

No demand for customer income.

    • What apartments can be bought with mortgage loans?

    You can buy an apartment in a building built by construction companies with which is a partner with the Bank ABB.

    • Which construction companies do the Bank ABB currently cooperate with?

    Kristal Absheron, Khazar Inshaat, XXI ESR, Melissa Group, Sea Breeze (Nardaran), Xalq City, AS tikinti, Grand Hayat, Avant Park, Baku Pearly Residence.

    • How many apartments can I buy with mortgage loans?

    According to terms, 1 customer can take max. 2 parallel mortgage loans. The combined amount of the two loans should not exceed AZN 300 000.

    • Can I buy a country house or villa with a mortgage?

    There is a sale of villas in the residential complex Sea Breeze (Nardaran). You can buy a villa in that residential complex.

    • Which branches can I get a "Mənzil" loan from?

    You can get a "Mənzil" loan from Sabail, MXD, Sumgayit, and Narimanov branches.

    What is the term for getting a mortgage loan?

    • Loan terms

    Amount – AZN 300 000, Duration – 240 months, Interest – 9 and 10%

    • Down payment requirements

    The minimum down payment requirement is 10%. The amount of the down payment may vary depending on the conditions applied by the construction companies.

    • Client income requirements

    There is no demand for the customer's income.

    • Is there a guarantee?

    There is no guarantee.

    • What is the minimum salary to apply?

    There is no requirement for the client's income in mortgage loans.

    • I have 3 children. Does my family's expenses allow me to take out a mortgage?

    The customer's expenses are not taken into account when issuing mortgage loans.

    • Is there a need of a guarantor or collateral to get a mortgage loan?

    There is no need for a guarantor to get a mortgage loan, as the purchased apartment does not have an title deed, the apartment will be owned by the bank after receiving an title deed for the apartment.

    • Is work experience required?

    No.

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