Details of the interest rate reduction of the “National Housing Movement” facility

According to the report of financial news, quoted by Maskan-Hibna Bank, “National Housing Movement” is one of the projects that the 13th government has put on its agenda to solve the housing challenge.

This morning, Mohammad Reza Mahdiaras Ismaili, CEO of the National Housing Fund, regarding the follow-up to reduce the interest rate of the National Housing Movement’s facilities, and also referring to the repayment stages of these loans, told Tasnim: “The conclusion regarding the interest rate of the facilities of the mentioned plan is the responsibility of the Money and Credit Council.” . It is decided that the loan installments of the National Housing Movement will be staggered. In this case, the borrower will not be under the pressure of high installments in the first months and years of the repayment period. Based on this, in the first two years of repayment, the maximum monthly installments are 5 million tomans, so that the applicants of the National Housing Movement can afford it. After two years, the installments will be received in a staggered manner.

Stating that until further notice, the interest rate of the National Housing Movement facility is 18%, Esmaili continued: We have not yet received an approval from the Money and Credit Council regarding the reduction of the interest rate of this facility. The required resources for the difference in the interest of the facility will be provided in the same way as the previous model, where one-third comes from the Central Bank, one-third from the National Development Fund, and one-third from the National Housing Fund. The interest rate is not supposed to be reduced by 18%, the discussion is that a group whose benefit is currently 18% will be included in the rural housing facility at a rate of 5%.