Payment of 1,058 billion Rials for marriage and childbearing loans by Entrepreneur Bank

According to the financial news report According to the public relations of Bank Karbaran, in order to promote the tradition of good marriage, from the beginning of 1401 to December 2nd of 1401, this bank paid 687 items of marriage loan facilities equal to 905 billion Rials to the applicants. This is due to the fact that by the end of October this year, 574 marriage loan facilities had been paid. In terms of the amount of facilities, before and until the end of Mehr, more than 756 billion Rials were paid to the applicants in the Bank of Entrepreneur. According to this report, until now, all the applicants for the marriage loan facility have been introduced to the bank’s operating branches and currently 251 applicants are going through the steps to get facilities.

Marriage facility
The process of getting a marriage loan facility at the Bank of Karabhan is as follows; Each couple must register and receive a tracking code in the Central Bank’s marriage loan facility system. Then, by the supervision of the bank specified in the system on behalf of the applicant, the branch that pays the facility is specified and an SMS is sent to the registrant to register the information and start the next stage of receiving the facility.

At the last stage, the applicant must go to the branch and submit the necessary documents to complete his case and receive his marriage loan.

It is worth noting that this process should not take more than one month, otherwise the applicant must register again.

Providing loan facilities for having children
Also, with the notification of the Central Bank’s circular regarding the provision of childbearing facilities, the Entrepreneur Bank paid 699,699 childbearing facilities in the eight months of 1401. Based on this, and in order to promote the culture of childbearing, from the beginning of 1401 to December 2 of this year, 363 childbearing facilities were provided. 253 billion riyals have been paid to the applicants by the Entrepreneur Bank. According to this report, 114 applicants are currently waiting in line to be introduced to the bank’s operating branches, and 363 applicants are going through the steps to obtain childbearing loan facilities at the operating branches.

How to get a childbearing loan
According to the circular issued by the Central Bank to the banks, the provision of loan facilities for childbearing is on the agenda of the Bank of Entrepreneurs.
In this way, banks are obliged to pay the facilities described below, based on the validation of the applicants, by taking a promissory note from the applicant or a valid guarantor.

According to the law, for the children who were born in Iran since 1400 and their fathers also have the citizenship of the Islamic Republic of Iran, the loan facility for childbearing is 20 million tomans for the first child and 40 million tomans for the second child. 60 million Tomans are paid for the third child, 80 million Tomans for the fourth child, and 100 million Tomans for the fifth child. Also, child bearing facilities are granted to people whose birth rate of the city of father’s or child’s birth place is not higher than 2.5.

Childbearing facilities are paid without deposit and with a six-month breathing period to start the installments. However, in case of confirmation of the long-term investment deposit, the applicant will be exempted from introducing a guarantor or presenting a promissory note.

Childbearing facilities are paid annually with a fee of 4%, and in the case of the birth of twins or more, a loan is granted for each child, and the order of birth is taken into account.

Borrowing loans are allocated only to people who register in the Central Bank’s Borrowing Loan facility system, which is the same system related to marriage loan facilities, and its procedure is the same as a marriage loan, after registration and approval by the Central Bank. It will be sent directly to one of the branches of the Bank of Entrepreneurs and it will be payable by the said branch.

Eligible applicants (fathers) for those born from April 1, 1400 onwards and up to 2 years after the child’s birth, can register their application in the relevant system, and if during the repayment period of the child birth facility, another child of the applicant was born, it is possible to pay the said facility to the next child according to the terms of this instruction.