Title: New Banking Initiative: Bank Mellat’s “Taban” Scheme Offers Collateral-Free Loans Up to 100 Million Tomans
In a move aimed at expanding financial inclusion and supporting citizens’ economic initiatives, Bank Mellat has officially launched its new “Taban” loan scheme. This initiative provides a structured pathway for customers to access significant financial resources without the traditional requirement of a guarantor, marking a significant development in the nation’s banking services.
Core Mechanics of the Taban Scheme
The “Taban” scheme operates on a deposit-based model, designed to provide secure and accessible financing. To qualify, an applicant must first place a minimum deposit of 25 million Tomans with Bank Mellat. Based on this deposit, customers become eligible to receive a loan of up to 300% of the deposited amount, with the total loan ceiling capped at 100 million Tomans. The scheme is offered in two distinct forms:
- A direct cash loan with a maximum of 100 million Tomans.
- A credit card facility with a maximum credit limit of 50 million Tomans.
The loan amount is directly proportional to the initial deposit. For instance, to secure a 50 million Toman cash loan, a minimum deposit of 12.5 million Tomans is required.
Repayment Structure and Terms
The scheme features clear and defined repayment conditions to ensure transparency for all participants. Key financial terms include:
- A maximum repayment period of 36 months (3 years).
- An annual interest rate set at 18%.
As an example, the monthly installment for the full 100 million Toman loan is calculated at approximately 3,615,240 Tomans. Over the three-year period, the total repayment amount would be around 130,148,624 Tomans.
Key Conditions for Applicants
Prospective applicants should note several important stipulations within the “Taban” framework:
- The initial deposit must remain with Bank Mellat for the entire duration of the loan repayment period.
- Applicants must have a clear financial record with the bank, with no history of returned checks or outstanding debts.
- A nominal fee of approximately 30,000 Tomans is required for processing and credit assessment. For those opting for the credit card option, an additional 530,000 Toman fee applies.
This new financial product from Bank Mellat represents a strategic tool for individuals seeking substantial credit for various personal or entrepreneurial projects, underpinned by a clear and regulated structure that aligns with national economic objectives.