New Financial Support Package Announced for Iranian Retirees
In a significant move to bolster the economic well-being of its retired community, Iran’s Export Bank has unveiled a new financial aid package specifically for retired public sector and education staff. This initiative, designed to enhance liquidity and financial access for pensioners, introduces two distinct loan options to meet diverse needs.
Two-Tiered Loan Structure
The central offering is the “Sepino Loan,” which comes in two forms. The first is a collateral-free loan, granting up to 55 million Tomans based on the applicant’s credit rating. For those requiring larger sums, a second option provides loans of up to 300 million Tomans, which requires the applicant to provide an official guarantor.
Eligibility and Application Process
To qualify, applicants must have a minimum of a three-month average account history with the Export Bank and must be free of any outstanding debts or bounced checks within the banking system. A nominal fee of 100,000 Tomans is charged for account opening and credit assessment. A key feature of this program is its accessibility; the entire application and receipt process can be completed remotely via the Export Bank’s “Sepino” application, eliminating the need for physical branch visits.
Complementary “Sepas Sepehr” Initiative
In addition to the Sepino Loan, the Export Bank is promoting its “Sepas Sepehr” program, a benevolent loan with a mere 4% administrative fee. While the standard ceiling for this loan is 300 million Tomans, customers who maintain a higher average account balance can access up to 1 billion Tomans. A sample 300 million Toman loan under this scheme is typically repaid over 30 to 36 months, with a monthly installment of approximately 9.09 million Tomans.
Strategic Economic Objectives
These comprehensive financial schemes underscore a strategic national effort to support a valued segment of society. By facilitating easier access to credit, the programs aim to directly assist retirees in managing their financial requirements and improving their quality of life, reflecting a continued commitment to social welfare and economic stability.