4 billion youth housing facilities after 15 years; The government’s economic joke with the people – Tejaratnews

According to Tejarat News, yesterday, the payment conditions for youth housing savings account were announced for those who opened the account in 1402. As reported by the head of Maskan Bank, the youth mortgage has now reached four billion tomans in Tehran.

Also, the amount of this loan in provincial centers and cities with more than 200,000 people is 3.4 billion tomans and in other areas it is 2.8 billion tomans.

This loan is given only to new accounts that were opened in 1402, and those who have opened accounts in the past will receive facilities based on the contract and conditions at the time of opening the account.

Strange conditions for young people to get a mortgage

But the strange thing about mortgage payments is that applicants can get this loan after 15 years! It means opening an account in 1402 and receiving a loan in 1417!

Despite the prospect of increasing inflation in the country, as well as the unaccountable growth of housing prices in recent years, can this amount be enough to buy a residential unit in 15 years?

According to the first statistics published by the Central Bank of Tehran’s housing market and specific to the year 2016, the average price per square meter of a residential unit in this metropolis was about five million and 88 thousand tomans. Meanwhile, the latest estimates of this institution, which go back to December 1401, show that the average housing price in Tehran has reached 48 million and 73 thousand tomans per meter. That is, the average price of housing in Tehran has experienced an increase of almost 844% between 1396 and 1401.

Although no statistics on housing inflation have been announced since this date, experts believe that housing prices have continued to increase until now and will continue to rise.

In this way, four billion tomans may be considered a suitable amount for buying housing in some parts of the capital, but considering the inflation of Iran’s economy and the experience of recent years, in 15 years, this amount will not meet the minimum requirement for housing.

How to get the loan in the fifth year?

Of course, applicants who wish can receive their loan within a period of five years, which naturally has different conditions. Based on this, a person who opened an account in 1402 and wants to use the ceiling of the housing facility in the fifth year, must pay 56.6 times the minimum monthly deposit for Tehran, 74.5 times the minimum monthly deposit for big cities and 92.4 times the minimum Make monthly deposits for other cities.

For example, if a depositor wants to use the facility ceiling in Tehran at the end of the fifth year, he must deposit the amounts in the table with a factor of 74.5 times, which for the first year of depositing will be approximately equivalent to four million and 592 thousand Tomans per month.

To whom is the youth mortgage granted?

In the meantime, the question is raised, who will be given the loan despite all these cases? All people under the age of 18 can apply for a youth mortgage and after reaching the age of 18, they can purchase a house with the help of this loan. The amount of youth mortgage is based on the number of years of deposit and the amount that households deposit for their children.

How to calculate the amount of youth housing facilities

The amount received by an applicant depends on the average annual account balance and monthly deposit. In fact, every person has the possibility to withdraw from the youth housing savings account at any point, but the average balance of his account should not be less than the minimum amount determined by the central bank every year.

Terms of cancellation and transfer of youth loans

If an applicant refuses to receive the youth savings account housing facility, he can receive the interest on his deposit or hand over his facility.

If any person wants to withdraw the interest of his deposit, the interest rate will be paid based on the interest rate of short-term deposits. If there is an intention to transfer the loan points, it is also possible to transfer the account to close relatives.

Youth mortgage repayment period

Two methods for refund Youth mortgage There is. In the first method, the installments of this facility continue for 20 years, and in the second method, it is staggered and lasts for 12 years.

Youth mortgage interest rates

The maximum interest rate for youth housing loans based on the loan repayment period of more than five years will be 9% and the minimum interest rate for youth housing facilities based on the loan repayment period of up to five years will be 6%.

As it was said, now the main actor of Iran’s economy can be considered inflation, which by increasing prices in a short period of time, has deprived the people of the ability to save long-term for goods with a high price value; Therefore, in 15 years, the mortgage loan for young people will not be a good helper to solve the problems of the housing market and buy a house.

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