Iran’s Mehr Bank Launches “Mehr Avaye” Loan Scheme to Broaden Financial Inclusion
Tehran – In a significant move to expand public access to capital, Iran’s Mehr Bank has unveiled its new “Mehr Avaye” loan facility. The initiative, offering up to 200 million tomans, is designed to provide a vital financial resource for citizens seeking to meet larger funding requirements.
A Golden Opportunity for Enhanced Funding
The Mehr Avaye loan presents a compelling opportunity for applicants who require financial resources beyond the scope of standard banking facilities. With its notably low service charge and straightforward terms, the scheme has quickly garnered significant public interest.
Eligibility and Requirements
To qualify for this facility, applicants must have a clean banking history, free from any bounced checks or outstanding debts within the banking system. A mandatory prerequisite is the opening of a savings account at least one month prior to application. The average balance held in this account is a critical factor; a higher balance can substantially reduce the waiting period for loan disbursement.
Substantial Financial Support
The scheme offers a substantial ceiling of 200 million tomans, specifically tailored for customers with significant financial needs. For instance, a customer pre-qualified for a 65-million-toman loan who requires 90 million tomans can bridge the gap by depositing an amount equivalent to 40% of the deficit, thereby gaining access to the full desired amount.
Streamlined Process and Attractive Terms
A key advantage of the Mehr Avaye loan is its low service charge of just 4%, making it an exceptionally cost-effective option compared to other banking facilities. Repayment terms are flexible, ranging from 18 to 60 months, determined based on the customer’s account standing and credit score.
The requirement of a formal, validated guarantor is a central condition for approval. Applicants must also successfully pass the bank’s standard credit assessment process.
From Application to Disbursement
The application process is efficient. First, a customer must be eligible for Mehr Bank’s preferential loan scheme. Subsequently, by completing their file, introducing a guarantor, and finalizing the credit assessment, the Mehr Avaye loan will be deposited into their account within a maximum of seven working days.
Key Features at a Glance
| Feature | Detail |
|---|---|
| Loan Ceiling | 200 Million Tomans |
| Service Charge | 4% |
| Repayment Period | 18 to 60 months |
| Guarantor Required | Yes, a formal guarantor |
| Minimum Deposit Period | 1 Month |
| Disbursement Time | 7 Working Days |
Conclusion
The Mehr Avaye loan from Iran’s Mehr Bank, with its low cost, flexible repayment options, and high ceiling, stands as an excellent option for customers seeking supplementary funding. For those who meet the criteria, this initiative represents a valuable opportunity to achieve their financial objectives through a structured and supportive banking program.