Iran’s Export Bank Launches “Meysam” Support Scheme, Offering Major Financial Aid to Retirees
In a significant move to bolster economic support for its citizens, Iran’s Export Bank has unveiled a major financial initiative. The newly launched “Meysam” scheme is designed to provide substantial loans of up to 200 million tomans, featuring low interest rates and extended repayment terms specifically for retirees and pensioners.
A Initiative for Loyal Customers and Savers
Crafted to support loyal customers and encourage savings, the scheme represents a strategic effort to provide financial stability. The program allows individuals to access significant funds based on their existing savings, offering a practical solution for long-term financial planning.
Loan Details and Financial Structure
The “Meysam” scheme offers a maximum loan amount of 200 million tomans, calculated as 90% of the customer’s deposited savings. This structure means that by maintaining a deposit of approximately 25 million tomans in a Qard-al-Hasan savings account, eligible individuals can qualify for the full loan amount.
The terms are designed for accessibility:
- Annual Interest Rate: A competitive rate between 14% and 16%.
- Repayment Period: A flexible duration of 3 to 5 years.
- Monthly Installments: For the full 200-million-toman loan, monthly payments are estimated at approximately 6.835 million tomans.
- Total Repayment: The overall amount repaid, including interest, would be nearly 246 million tomans.
Eligibility and Requirements
To qualify for the “Meysam” loan, applicants must meet several clear criteria:
- Maintain a high average balance in their Qard-al-Hasan account for a minimum of three months.
- Provide at least one valid, official guarantor.
- Have no history of bounced checks or outstanding bank debt.
- Successfully pass the Export Bank’s internal credit assessment.
With its transparent conditions, reasonable interest rate, and logical repayment structure, the “Meysam” scheme stands as an attractive option for those seeking substantial financial support through short-term savings mechanisms. This initiative provides a viable pathway for retirees to secure significant credit with minimal hassle and maximum benefit.