Title: Iran’s Bank Mellat Unveils “Tabeesh” Loan Scheme: A New Financial Tool for Citizens
In a significant move to broaden financial inclusion, Bank Mellat has introduced its new “Tabeesh” loan plan, offering customers access to substantial credit without the traditional requirement of a guarantor. This initiative is designed to provide a regulated and accessible financial solution for qualified individuals.
A New Avenue for Credit
The central feature of the Tabeesh plan is its no-guarantor structure, which simplifies the application process. To be eligible, applicants must first deposit a minimum of 25 million Tomans in a Bank Mellat account. The loan amount is then calculated as 300% of the deposited sum, allowing for a maximum credit of up to 100 million Tomans. The plan is offered in two distinct forms: a direct cash loan with the full 100 million Toman ceiling, or a credit card with a facility limit of 50 million Tomans.
Clear and Structured Repayment Terms
The scheme provides a clear and predictable repayment schedule. Borrowers have a maximum of 36 months (three years) to repay the loan. The annual interest rate is set at 18 percent. For instance, a 100 million Toman loan would entail a fixed monthly installment of approximately 3,615,240 Tomans. Over the three-year period, the total repayment amount would be around 130,148,624 Tomans.
Key Conditions for Applicants
Prospective applicants should note several important conditions. The initial deposit must remain in the bank for the entire duration of the loan repayment period. Furthermore, applicants must have a clean financial record with Bank Mellat, meaning no returned checks or outstanding debts. A nominal fee of approximately 30,000 Tomans is required for application processing and credit assessment, with an additional 530,000 Tomans charged if the credit is received in the form of a credit card.
Repayment Schedule Overview:
| Loan Amount (Tomans) | Required Deposit (Tomans) | Monthly Installment (Tomans) | Total Repayment (Tomans) |
|---|---|---|---|
| 100,000,000 | 25,000,000 | 3,615,240 | 130,148,624 |
| 50,000,000 | 12,500,000 | 1,807,620 | 65,074,312 |
The introduction of the Tabeesh plan by Bank Mellat represents a strategic financial product for citizens seeking substantial credit facilities. By outlining clear terms and conditions, the scheme aims to provide a transparent and responsible lending option within the national banking system.