Matkapital will be allowed to use for the construction of a private house
From March 1, maternity capital is allowed to be used to finance individual housing construction (IHS) using an escrow account, said Tatiana Podolskaya, an expert at the South Russian Institute of Management of the RANEPA.
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📝 Summary
From March 1, maternity capital is allowed to be used to finance individual housing construction (IHS) using an escrow account, said Tatiana Podolskaya, an expert at the South Russian Institute of Management of the RANEPA.
Escrow account will protect the family from losing money and minimize the number of cases of fraud, said Podolskaya. “The funds deposited in escrow accounts are insured by the Deposit Insurance Agency (DIA). At the same time, the maximum amount subject to insurance is 10 million rubles, RIA Novosti quoted Podolskaya as saying. Matcapital was allowed to use for IHS until March 1, but this required confirmation of the targeted spending of money, which significantly complicated the process, the expert concluded. The Federation Council approved on February 26 a bill extending the maternity capital program until December 31, 2030. Then the document will be signed by President Vladimir Putin. The size of the matcapital for the first child increased from February 1 to 690.3 thousand rubles., for the second child and subsequent children - to 912.2 thousand rubles.
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