More than 732,200 families spent their maternity capital on the improvement of living conditions in 2022. This is one of the most popular methods of spending maternity capital funds, and 53.7% of applications filed since the beginning of the year have this purpose.
Approximately 557,800 families used maternity capital to repay a loan or make a down payment for the purchase or construction of a home either fully or partially. Another 174,700 families improved their living conditions without a loan. In all, the Pension Fund transferred 287.1 billion rubles to such applicants, which is almost 89% of all maternity capital funds allotted this year. Maternity capital can be spent on the improvement of living conditions after the child whose birth or adoption entitles the family to maternity capital turns three. The only exception is made for repaying the main debt or the down payment for a mortgage loan. In this case, the certificate can be used as soon as the child is born or adopted. Since April 2020, it has been possible to apply for spending maternity capital funds on a mortgage loan directly in the bank where the mortgage loan is provided. Banks send the respective applications and documents to the PFR online, which expedites the use of maternity capital funds.