Rewritten Title: New “Naser” Loan Scheme Offers Substantial Financial Support for Low-Income Families and Retirees
Rewritten Article:
A New Financial Initiative for Eligible Citizens
A significant new loan program, known as the “Naser” loan, has been made available, specifically targeting low-income families and retirees. This initiative provides a substantial financial boost, with eligible individuals able to access up to 150 million Tomans in credit. The scheme is designed to offer accessible financial support with favorable terms.
How the Loan Mechanism Works
To benefit from this program, applicants are required to open a Qarz-ol-Hasaneh (interest-free) savings account at Mihan Bank. The process involves an initial deposit of between 25 to 80 million Tomans into this account. Upon this deposit, the applicant becomes eligible to receive a loan of up to twice the deposited amount. For instance, a 25 million Toman deposit yields a 50 million Toman loan, while an 80 million Toman deposit makes the applicant eligible for the maximum loan of 150 million Tomans.
Key Terms and Swift Processing
A notable feature of the Naser loan is its expedited processing time. The funds are disbursed swiftly, with a maximum waiting period of 15 days for the higher loan amounts. Essential eligibility criteria include having no history of bounced checks or outstanding bank debts. Necessary guarantees will be collected in accordance with the bank’s standard credit regulations. It is important to note that the applicant’s initial deposit will remain blocked and unavailable for withdrawal for the entire duration of the loan repayment period.
Flexible and Low-Cost Repayment
The repayment plan for the Naser loan is structured for flexibility, with a maximum term of 30 months. Borrowers can choose a repayment schedule of 20, 24, or 30 months based on the loan amount and their personal financial situation. For example, for the maximum 150 million Toman loan with a 30-month term, the monthly installment would be approximately 5,555,000 Tomans. The total repayment amount would be around 166 million Tomans. With a low service fee of only 4 percent, this scheme stands as one of the most cost-effective banking facilities available, providing crucial financial support with minimal associated costs.