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Details of interest rates on installments of the National Housing Movement

According to Tejarat News, According to the new decisions of the Ministry of Roads and Urban Development, how much is the profit of the facilities of the National Housing Movement determined?

Quoted from ایلنا, Mahmoud Mahmoudzadeh, Deputy Minister of Roads and Urban Development, referring to the details related to the installments of the National Housing Movement project, said: “Currently, according to the approvals of the Monetary and Credit Council, the interest rate is 18%, but this is an important and positive point in the National Housing Movement.” Due to the power of the National Housing Fund and the production leap law, the government assumes a significant part of the facility interest in the sense that the lower the income decile among the applicants, the higher the facility interest rate by the National Housing Fund. Representation is provided by the government, and in the end the installments paid by the people are much less than the figures calculated on the basis of 18% interest and announced publicly.

Which deciles are covered?

He continued by stating that according to this new plan, the amount of installments is completely based on the installment capacity of different deciles: the first to fifth deciles are included in this support plan in the benefit of the National Housing Movement project facilities and between the first to fifth deciles depending on income They will pay interest will be different.

The Deputy Minister of Roads and Urban Development added: the start of payment of installments for applicants will be after the completion of construction and delivery of the unit, ie it will take between two to three years.

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Mahmoudzadeh emphasized: the amount of installments paid by the applicants after receiving the unit is about 50% of the numbers that have already been announced as 18% of the facility interest. Of course, this mechanism will be specific to the first to fifth deciles of income, and the other deciles who have a higher income will naturally have to pay higher fees.

Which deciles are in priority?

He said: the first to third deciles are in the priority of this plan and the next priority is up to the fifth decile and the amount of facility installments is adjusted to be able to pay these deciles and is at least more than 50% less than the numbers previously announced.

The Deputy Minister of Housing and Construction continued: The first to fifth deciles are determined based on the Iranian welfare system and are introduced to the ministry. Most of the first to third deciles are covered by the Relief and Welfare Committee, and the higher deciles are among the salaries of public and private sector recipients, who receive the minimum wage and are considered to be up to twice the minimum salary of the low-income decile.

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