Title: Official Clarification: Viral Reports of a 400 Million Toman “Subsidy Loan” Are False
In response to widespread rumors circulating online, Iranian welfare and banking officials have issued a firm denial of the existence of a no-guarantor, 400 million Toman loan linked to subsidy cards.
The Source of the Rumor
Recent days have seen numerous media outlets and social media channels promote news of a “400 Million Toman Subsidy Loan” registration, allegedly available without a guarantor. Some reports went so far as to specify monthly installment amounts and claim the loans, with an 18% interest rate and a 36-month repayment period, could be accessed directly through a family’s subsidy card or account. The scheme was sometimes falsely attributed to the “National Credit Plan” of the National Bank of Iran.
An Official Denial
A spokesperson for the Ministry of Cooperatives, Labour, and Social Welfare has categorically refuted these claims. Marjan Dabiri, the spokesperson for the ministry’s Electronic Coupon Plan, stated, “All these cases are denied; the government does not engage in such an action, and such news is practically a pure falsehood.”
Dabiri emphasized that official announcements from the Welfare Ministry are only disseminated through verified channels, including the official portal v.refah.ir. She warned the public that any registration links or SMS messages received outside of these official paths are fraudulent.
Clarifying the “National Credit Plan”
While some unofficial sources pointed to the National Bank of Iran’s “National Credit Plan” as the basis for the rumors, a review of the plan’s official terms and conditions reveals a different story. The plan’s webpage explicitly states that “having a valid guarantor commensurate with the credit rating and providing necessary guarantees and collaterals is mandatory.” This confirms that the National Credit Plan is neither a no-guarantor loan nor is it based on subsidy entitlements; it is simply a standard banking facility with its own specific requirements.
The Rural Housing Loan Explained
Authorities suggest that the rumors may have originated from a misunderstanding of a separate, legitimate loan program. A 400 million Toman loan with a 5% service fee does exist, but it is part of the Qard-al-Hasanah Rural Housing scheme. This loan is exclusively for households residing in villages and towns with populations of less than 25,000 people. Eligibility is contingent upon having an ongoing housing construction project and providing a valid guarantor to Bank Maskan. It is in no way a universal, no-guarantor loan accessible via subsidy cards.