Bank interest rate reached 25%

According to Tasnim, one of the most important banking decisions during the presidency of General Salehabadi in the central bank was the increase in the interest rate on certificates of deposit to 23%.

The permission to issue special term deposit certificates for public investment was approved in the meeting of the central bank’s executive board on the 3rd of January this year and was notified to the country’s banking network on the same day.

These bonds are issued with an interest rate of 23% and their sale is allowed only to real Iranian people over 18 years of age. The duration of these bonds is a maximum of one year, but the central bank has allowed banks to issue these bonds with maturities of less than one year.

This decision was communicated to the banking system when the Central Bank had officially announced the issue of interest rate increase in the Money and Credit Council and emphasized: We are looking for a change in the interest rate.

This policy is defended by Farzin, the new head of the central bank. He announced in a special news interview that we will also use the interest rate tool, but we will announce how to use this rate later.

However, after the issuance of certificates of deposit with 23% interest, some banks, especially state-owned banks, increased the interest rate on bank deposits. Tasnim reporter’s observations show that the interest rate of deposits in state banks has now increased to 25%.

It should be noted that the interest rate of bank facilities has also increased in the branches of state and private banks and has reached about 24-25%! Some private banks announce 24% interest rate to customers when paying the facility. This rate was 18% before.

The Money and Credit Council has not yet officially approved the change in interest rates on deposits and bank facilities, and it is not clear with what authorization the public and private banks have increased these rates?!