Rewritten Title:
Iranian Banks Launch Digital-First Loans: Fast, Guarantor-Free Financing Now Available
Revolutionizing Banking: Digital Loans Without Guarantors
Iranian banks are pioneering accessible financial solutions with new digital loan services that eliminate the need for guarantors or collateral. Bank Pasargad, through its fully digital Vipad branch, now offers the “Barayand” loan, providing customers with quick, hassle-free financing.
Key Features of the Barayand Loan:
- Loan Amount: 10 to 50 million tomans
- Interest Rate: 23%
- Repayment Terms: 6 or 12 months (depending on loan amount)
- No Guarantor, Collateral, or Checks Required
This streamlined process allows customers to bypass traditional bureaucratic hurdles, making financing more inclusive.
How It Works: Credit Scoring Based on Account Activity
Eligibility is determined by a customer’s account score within Vipad’s V-Club loyalty program. Members earn points based on daily account balances:
- 100,000 tomans daily balance = 1 point
Once a threshold is met, loan applications unlock instantly.
Eligibility & Verification:
- No outstanding debts or bounced checks
- Financial history reviewed via Iran’s banking network
- Analysis of the last three months of Vipad account activity
National Bank’s “Mehrbani” Initiative: Larger Loans, Flexible Terms
Bank Melli Iran’s “Mehrbani National Plan” offers loans up to 300 million tomans under Sharia-compliant terms:
- Only 1 guarantor required
- 0%, 2%, or 4% processing fee
- No checks, promissory notes, or payroll deductions
- Funds disbursed within 4 hours of approval
Loan Calculation & Family Benefits:
- Amounts based on average account balance over 1–12 months
- Unlimited loan credit transfers to immediate family members
- Annual cap of 10 billion rials for non-family transfers
Seamless Digital Access
Both banks enable fully online applications via:
- Bank Melli’s “BAM” platform
- Mobile apps for remote account opening
Why This Matters
These initiatives reflect Iran’s commitment to financial inclusion, leveraging digital innovation to simplify credit access while adhering to Islamic banking principles. With rapid approvals and minimal requirements, households and businesses gain unprecedented financial flexibility.
Apply today—no paperwork, no delays.
