The Housing Construction Savings Bank (HCSB), founded in 2003, is modelled on the German bausparen system of contractual savings for housing. It is the only Kazakhstani bank which employs this model to fund mortgage lending.
The HCSB contract savings system is operated as follows:
The bank originally offered a single savings and mortgage product but from 2016 it began to offer a wider variety of products, with the required savings accumulation period varying from 3.5 to 15 years
The bank has made a significant contribution to expanding available mortgage credit. In 2018 it provided one third of the country’s mortgage finance and its loan book has grown by approximately 33 per cent per annum in recent years.
 UNECE, Country Profiles on the Housing Sector: Republic of Kazakhstan (Geneva, United Nations, 2018). Available at https://unece.org/housing-and-land-management/publications/country-profiles-housing-sector-republic-kazakhstan.https://hcsbk.kz/en/