What is the interest on a 100 million mortgage?

According to Tejarat News, the amount of repayment وام 100 million Tomans housing deposit in Tehran is 5 years and with a profit of 52.3 million Tomans.

Quoted from TasnimIn the third month of this month, the Monetary and Credit Council, by granting housing deposit assistance facilities at the rate approved by this council, has a repayment period of up to five years, in the ceilings of 100, 70 and 40 million Tomans.

The council agreed to repay in Tehran, provincial centers and cities with a population of more than 200,000 and other cities and from bank resources subject to Article (4) of the Housing Production Leap Law with a total annual ceiling of 40,000 billion tomans in 1401.

One of the differences between the Monetary and Credit Council’s recent decision to support tenants with mortgages over the past two years is the amount of interest.

The interest on the loan is 18% and the government is not going to pay the difference of 7 to 9% as in the past.

What is the interest rate on mortgages for cities?

Accordingly, the amount of 100 million Tomans loan installments for housing deposit assistance for Tehranians is 2 million and 539 thousand Tomans per month. The total profit of this facility is 52 million and 360 thousand tomans in 5-year repayment.

In provincial capitals, tenants must pay a monthly installment of 1,777,000 tomans for a 70 million toman loan after going through the loan process, which is likely to face difficulties from banks and operating financial institutions.

The total repayment of this loan in the five-year period is 106 million and 652 thousand tomans; In other words, the applicant will pay 36 million and 652 thousand tomans of 70 million tomans loan interest.

In other cities, where the housing deposit loan is to be paid 40 million Tomans, the amount of monthly installments is about one million Tomans. The total profit of this facility in the 5-year repayment period will be about 21 million Tomans.

According to Tasnim, the mortgage loan has increased by 30 million Tomans compared to last year for Tehranians.

Although this increase is not in line with the country’s general inflation, it can solve the problem of tenants as a short-term housing.

Provided, of course, that the operating banks do not show excessive strictness in the introduction stage of the guarantor.