VTB announced the resumption of issuing IT mortgages from April 8 – Kommersant
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VTB Bank (MOEX: VTBR) from April 8 will resume issuing mortgages for employees of Russian IT companies accredited by the Ministry of Digital Development. Program was suspended April 3 due to exhaustion of limits.
“From April 8, VTB will resume issuing IT mortgages. Borrowers can apply for loans on the same terms: the rate is 5% per annum for the entire term of the contract, and the minimum down payment is 20.1% of the value of the property. Thanks to VTB’s cooperation with partner developers, the bank’s clients can take advantage of the loan amount increased to 30 million rubles,” the bank’s press service told Kommersant.
The head of the Mortgage Lending Department at VTB, Sergei Babin, said that in March 2024 the bank recorded maximum demand for IT mortgages, as other credit institutions ran out of limits. “We made every effort to process all applications and resume issuance as quickly as possible – immediately after the government’s decision to allocate additional funding,” he said.
VTB launched a preferential mortgage program for employees of Russian IT companies in May 2022. It can be applied for by Russians aged 18 to 50 years, officially working in an organization that operates in the field of information technology and is accredited by the Ministry of Digital Development. The funds received can be used to purchase apartments, townhouses and houses, as well as for individual housing construction. In just two years, 11 thousand specialists received IT mortgages from VTB for 110 billion rubles.
Read more about the expansion of the preferential program in the Kommersant publication. “IT mortgage has reached its limit”.
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