Since 2007, the state has improved funding for young families with two or more relatives or adopted children. Initial assistance amounted to a quarter of a million rubles., Taking into account inflation in 2014, a certificate is issued in the amount of 420,000 rubles. Absolutely all families whose second or subsequent child was born after January 1, 2007, can apply for state assistance, this program also applies to adopted children. That is why parents are wondering about how to cash out maternity capital.
How to get financial assistance from the state?
It’s not necessary to immediately run after the baby’s money, anyway they can be used when the baby is 3 years old. Nobody will take away the right to receive help from parents, so funds can be received at any convenient time. The Pension Fund of the Russian Federation is responsible for the implementation of the program; its representatives will tell you in detail how to cash out maternity capital.
To obtain a certificate confirming the right to state financial assistance, it is necessary to collect documents: birth certificate of all children, mother’s passport, certificate of compulsory pension insurance, court decision on adoption. Then you need to contact the PF at the place of registration and write an application according to the established model. Only photocopies of documents are given to the body. The certificate will be available in a month.
The main ways to receive money
Not knowing how to
cash out maternal capital, many irresponsible parents fall for the bait of scammers. It should be remembered: it is legal to use state aid only by non-cash payments. Every year, the law is amended, and there are more methods for using maternal capital. Today, most often the certificate is used to improve the living conditions of the family. Parents can buy housing, build on their own, take part in
shared construction, remodel, pay a mortgage or interest on it.
Maternity capital can be used to pay for the higher education of any child in the family, additional education in institutions with a certain license, municipal and state schools or kindergartens. The certificate is also allowed to be used to increase the funded part of the mother’s pension , and it is allowed to deposit money in private pension funds. The question of the possibility of obtaining higher education for mothers at the expense of state aid is also being considered.
Which banks cash out maternity capital?
There are many banking institutions in Russia that accept certificates as payment for mortgage loans. In search of opportunities, how and where to cash maternity capital, some parents fall into the network of scammers, while losing at least a third of the money, and at the maximum - all the money. The state does not provide for the issuance of cash, which could be spent on food or clothing, therefore, one should not follow the case of dishonest dealers.
PF employees will tell you how to cash out maternity capital in a legal way. If the family needs to improve housing conditions, then you can apply for a loan with its subsequent repayment by state assistance to the following banks:
- Sberbank - grants loans for 30 years at 14% per annum, works with prefabricated buildings.
- DeltaCredit - grants housing loans with a down payment of 5%.
- VTB24 - provides loans for 50 years at 11% per annum. Maternity capital can be paid as a down payment.
The Bank of Moscow, Promsotsbank, UniCredit, Nomos Bank also offer favorable loan products.