PJSC Sberbank : Sber reduces mortgage down payment for the self-employed to 20% from 30%

As of September 30, Sber is reducing the down payment for home loans for self-employed persons to 20% from 30%. The terms will extend to both new and previously accepted applications.

In December 2019, Sber launched a mortgage program for self-employed clients who have activated the Svoe Delo service (trans. your own business). Clients can submit their application and select the property they are interested in online at DomClick.ru. Additional documents to confirm the client's income are not required.

Self-employed persons can apply for a mortgage under the following programs: Completed Housing, Construction-Stage Housing, Garage, Suburban Real Estate (with the exception of individual construction). The minimum interest rate for the self-employed is 8.1% when purchasing housing on the secondary market and 0.1% per annum when purchasing an apartment in a new construction.

Nikolay Vasyov, director, DomClick:

"Mortgages for the self-employed have helped many of our clients who are growing their own businesses solve the apartment issue. Previously, even with a steady high salary, they sometimes experienced difficulty confirming their income. Now, by activating the Svoe Delo service and providing Sber with information about their business, they no longer need to prepare additional documentation in order to receive a loan.

This is yet another step in the development of this product: we are reducing the down payment. We expect the new terms to help even more of our clients realize their dream of owning their own comfortable, spacious housing."

Register as self-employed in a matter of minutes through the Svoe Delo service in the SberBank Online mobile app's Services section. You can also use the search feature to find the application. Select "Self-Employed" or "Your Own Business." No additional documents are required, and you will not need to visit a bank branch. Further information about registration, new opportunities for the self-employed, and tax treatment and restrictions is available on the bank's website.