Title: National Bank of Iran Launches Major 700 Million Toman Loan Initiative to Boost Economic Participation
Tehran – In a significant move to support domestic economic activity, the National Bank of Iran has unveiled a new flexible loan program, offering citizens access to substantial financial resources of up to 700 million Tomans. The initiative is designed to empower individuals and businesses with greater financial freedom and simplified procedures.
Key Features of the New Loan Program
The loan scheme is structured with remarkable flexibility, allowing applicants to choose from three different interest rates: 14%, 18%, or 23%. Furthermore, borrowers can select a repayment period that suits their financial planning, ranging from 12 to 60 months.
A central feature of this program is the drastic reduction of bureaucratic hurdles. The traditional requirements for physical checks, promissory notes, and salary deduction certificates have been eliminated.
Streamlined and Modern Application Process
The bank has introduced a fully digital and remote process for guarantors. Through the official “BAM” application, a guarantor can now accept and confirm their role without the need for an in-person branch visit. The bank will also consider the applicant’s existing credit rating (categories A, B, C, or D) during the approval process, making it more inclusive.
For corporate clients, the program includes a provision for the transfer of account privileges, thereby widening the pool of eligible applicants and ensuring a broader segment of the business community can benefit.
Strategic Economic Support
This initiative is positioned as a strategic step by the National Bank of Iran to reinforce the nation’s economic foundations. By facilitating access to capital for a variety of purposes—including personal expenses, equipment purchases, new investments, or debt settlement—the bank is actively contributing to the strengthening of domestic production and economic resilience.
Prospective applicants are encouraged to download the “BAM” application to immediately avail themselves of this new financial opportunity.
