Land mortgage

A land loan is a type of mortgage that allows you to buy a plot of land in Baku, Sumgait, Absheron, Ganja, Shamakhi, Gabala, Guba, Gusar, Khachmaz regions for a maximum amount of up to 150 000 manats.

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Who can benefit ?

Client requirements

Terms

Maximum amount 1

150 000 AZN

Duration

Up to 60 months

61 – 120 months

121 – 180 months

Annual interest rate 2

8%

10%

11%

Minimum down payment

30%

30%

40%

Commission fee

Up to 120 months – 1%

121 - 180 months – 1.5%

Payment type

Monthly annuity

Insurance

If the land plot is bought in the territory of Baku, Sumgait and Absheron - only life insurance, if the land plot is bought in the region, life insurance and property insurance of real estate are accepted as second security.

Guarantee

If a land parcel is acquired in the regions of Baku, Sumgayit, and Absheron, it can be used as collateral.

If the land is purchased in Ganja, Shamakhi, Gabala, Guba, Gusar, Khachmaz regions, the land and real estate in Baku, Absheron and Sumgait are pledged as collateral and the property is insured. In this case, the value of real estate in Baku, Absheron and Sumgait is taken into account when calculating the KTN coefficient.

1 The loan amount must not be higher than the total liquid value of the collateral.

2 The annual interest rate of the housing loan may vary according to the total income of the customer.

Frequently Asked Questions

About the land loan

  • What is a land loan?

A land loan is a type of mortgage that allows you to purchase land in Baku, Sumgait, Absheron, Ganja, Shamakhi, Gebele, Guba, Gusar, Khachmaz regions up to a maximum of AZN 150 000.

  • What are the advantages of the land loan product?

You will become a landowner with a minimum down payment of 15 percent, maturities of up to 15 years and loan terms with interest rates starting at 8 percent per annum.

  • How to get a land loan?

Once the initial review of the required documents is done, you can acquire the land you desire through favorable financing from internal funds of Bank ABB.

What are the criteria for obtaining a land loan?

  • Is there a cap on the loan amount and duration?

The loan can be up to AZN 150 000 with a term spanning as long as 15 years.

  • Is there a commission fee?

The commission fee is 1% for up to 120 months and 1.5% for 121-180 months.

  • What are the requirements for monthly loan repayment?

Monthly loan repayment is made on an annuity basis.

  • Is there a guarantee?

There is no guarantee.

  • Is collateral required?

For land purchases in Baku, Sumgayit, and the Absheron regions, the land itself serves as collateral. However, for land acquisitions in the Ganja, Shamakhi, Gebele, Guba, Gusar, and Khachmaz regions, both the land plot and any real estate located within Baku, Absheron, and Sumgayit are used as collateral and must be insured. In these cases, the value of the real estate in Baku, Absheron, and Sumgait is factored into the KTN coefficient calculations.

  • What criteria must the acquired property meet?

The property being bought or property subject to mortgage should be exclusively in the regions of Baku, Sumgait, Absheron, Ganja, Shamakhi, Gebele, Guba, Gusar, or Khachmaz.

  • What documents are required?

ID, bank statement for the last 12 months (minimum 6 months) or a certificate from the e-government portal.

  • Is work experience required?

Work experience in the last job must be at least 6 months.

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Do you receive a salary or pension from ABB?
Do you receive a salary or pension from ABB?
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