The terms of the housing deposit facility were communicated to the operating banks
According to the Iran Economist, in Circular No. 01/34031 dated 12 May of this year, the bank informed the operating banks and the previous correspondents regarding the amendment of the executive instruction on granting housing construction and renovation facilities, the subject of the Housing Production Leap Law, according to the decisions taken by the Monetary Council. The validity date is May 6 of this year:
“Housing deposit assistance facilities at the rate approved by the Monetary and Credit Council, maximum repayment period of 5 years, in individual ceilings of 600, 450 and 350 million rials in Tehran, provincial centers and cities with a population of over 200,000 people and other cities, respectively, and from sources “A bank subject to Article (4) of the Housing Production Leap Law (with a total ceiling of 400,000 billion rials in 1401) should be granted.”
It is noteworthy that the method of introducing eligible applicants to benefit from the facilities mentioned by the system of the Ministry of Roads and Urban Development will be. Therefore, it should be duly notified to the relevant executive units and the performance related to this bank should be sent.
It is worth mentioning that according to the decision of the Monetary and Credit Council, the interest rate of the above-mentioned facilities is 18% and the quota of the operating banks is as follows:
