Details of youth housing savings account facilities
According to the Iran Economist, Mohammad Hassan Moradi, in an interview with the correspondent of the Housing Bank-Hibna news website, stated that the issue of providing housing for various segments of society is one of the basic and important issues in all countries. In particular, the increase in applicants’ savings capacity is supported by governments, as well as by financial markets and banks.
He added: “Maskan Bank, as a specialized bank in the housing sector of the country in the role of a funds intermediary, has always tried to consolidate and direct micro-savings in order to provide larger facilities from the same savings, to meet the housing needs of individuals.”
Member of the Board and Deputy Plan and Planner of the Housing Bank, stating that the various accounts of the Housing Fund have been designed in this regard, continued: Young people were designed to be forward-looking and save even small amounts, and to strengthen their financial capacity to provide housing.
Moradi added: “In this account, individuals can choose one of the deposit methods according to their income status, deposit amounts in the account and after a period of at least 5 years of the benefits of the account, which is paid in the form of facilities, Use to buy or build housing.
The official in Maskan Bank, pointing out that the ceiling of facilities payable from the youth account is proposed by the Maskan Bank to the Central Bank of the Islamic Republic of Iran every year and after approval is notified to the network, emphasized: Slightly added to the facility ceiling, and this year, due to the recent jump in housing prices, this ceiling has increased significantly by 2.5 times compared to the previous year.
He continued: “This indicates that the bank in the face of environmental changes as much as possible, has reacted appropriately and has increased the ceiling of its facilities in accordance with the needs of the market.”
Member of the Board of Directors and Deputy Plan and Plan of Maskan Bank, stating that the facilities related to this account paid for the repayment period of 5 years with a maximum interest rate of 6% and for the installment period of more than 5 years (up to 20 years) with 9% interest rate He added: “This shows the uniqueness of this credit product and has two characteristics: ‘low interest rate’ and ‘long repayment period’.”
According to Moradi, the facility installment of one billion tomans with a rate of 9 percent and a repayment period of 20 years will be about 9 million tomans, which is not a large figure in the next 15 years.
Moradi said: “A study of the trend of changes in the minimum monthly wage of workers over the past 15 years, shows that in this period, the minimum wage has increased more than 20 times and assuming the continuation of this trend, the minimum wage in the next 15 years, An amount of about 53 million tomans is estimated. This makes these facilities available to the target group of the bank, even the low-income groups of the society.
The member of the Board of Directors and Deputy Plan and Plan of Maskan Bank emphasized: In addition to the two mentioned features, it should also be considered that the savings amounts of people in the account are not significant and for example the total customer deposits to benefit from the facility One billion tomans in Tehran does not exceed 70 million tomans.
He continued: that is, only 7% of the amount of facilities, which is gradually and low monthly amounts (200 thousand Tomans for the first 5 years, 300 thousand Tomans for the second 5 years and 400 thousand Tomans for the third 5 years) are deposited in the account. .
Moradi, stating the important issue that the youth housing savings account is not the only credit product of the bank and has its own audience, said: “At some point, other types of housing savings funds that need to deposit more money, meet different tastes and now The reason for the cessation of the fund’s activities, dear compatriots, can buy privileged bonds from the market even without depositing and without time, but at a higher cost, and use the bank’s facilities to buy, build or complete their residential unit.
Member of the Executive Board and Deputy Plan and Planner of the Housing Bank added: “Considering the mentioned cases, in the Housing Bank, considering the customer’s financial ability to save small amounts, save large amounts and also without any savings, various choices to use housing facilities.” , Is in front of the dear people of the country that can be used and the bank with the same tools and other government support projects, has been able to finance about 30% of the existing housing units in the country.