Title: New 50 Million Toman Loan Initiative Launched for Iranian Retirees
In a significant move to support the welfare of its senior citizens, a new phase of the 50 million Toman loan program for retirees under the Social Security Organization has commenced. This supportive financial measure, designed to improve the livelihood of retirees, will continue until the end of the current Iranian year (March 2025), with updated eligibility conditions to streamline access.
A Commitment to Retiree Welfare
The well-being of retirees remains a priority in Iran’s social policy. Acknowledging the broader economic landscape, the Social Security Organization has consistently worked to provide support mechanisms for this valued segment of society. The 50 million Toman loan is a cornerstone of these efforts, aimed at alleviating financial pressures and enhancing the quality of life for pensioners through a phased distribution plan.
Eligibility Criteria for the Loan
To qualify for this financial aid, applicants must meet the following conditions set by the Social Security Organization:
- Pension payments must be received through Bank Refah.
- The applicant’s age must be under 77 years.
- The applicant must not have any bounced checks or outstanding bank debts.
- The applicant must not have utilized a similar facility within the last three years.
- The mobile number registered in the application form must belong to the retiree themselves.
Loan Terms and Repayment Structure
The loan carries an annual service fee of 4%. Repayment is set over a 24-month period, with monthly installments being automatically deducted from the retiree’s pension. The total repayment amount, including the principal and the fee, is 53 million Tomans.
The installment breakdown is as follows:
- Standard Monthly Installment: 2,272,727 Tomans
- First Installment (includes first-year fee): 2,000,000 Tomans
- Thirteenth Installment (includes second-year fee): 1,000,000 Tomans
- Total Repayment Amount: 53,000,000 Tomans
How to Apply
Retirees and pensioners can apply for the loan through two primary channels:
- In-Person Registration: By visiting local retirement association offices in their province or city of residence.
- Online Registration: Via the official website of the High Council of Retirees at http://kanoone-ali.ir.
Important Application Notes
- Applicants who have already registered and received an initial SMS from Bank Refah have begun receiving a second confirmation message with the deposit date. Authorities have emphasized that no response to these SMS messages is required, as the entire deposit process is automated.
- A crucial step to ensure a successful transfer is maintaining a minimum balance of 100,000 Tomans in the pension account. A lack of funds may disrupt the deposit process.
This loan program, which was rolled out in phases starting at the beginning of the current Iranian year, has already provided vital support to tens of thousands of retirees. Economic analysts note that while such a loan cannot single-handedly resolve all living cost challenges, it serves as a crucial support mechanism to help cover essential expenses in the current economic climate.
