Title: New 50 Million Toman Retirement Loan: Terms and Registration Process Announced
Introduction
The Social Security Organization has announced comprehensive details for a new 50 million Toman loan facility, providing significant financial support for eligible retirees and pensioners. This initiative is designed to offer accessible credit with a structured repayment plan.
Eligibility Criteria
To qualify for the loan, applicants must meet the following conditions set by the Social Security Organization:
- Pension payments must be received through Bank Refah.
- The applicant must be under 77 years of age.
- The applicant must have no history of bounced checks or outstanding bank debts.
- The applicant must not have used a similar facility in the last three years.
- The mobile number provided in the application must be registered in the retiree’s own name.
Loan Fee Structure
The loan carries an annual service fee of 4 percent, making it a cost-effective financial instrument for retirees.
Repayment Schedule
The loan is structured with a 24-month repayment period. Installments will be deducted directly from the retiree’s monthly pension. The total repayment amount, including the principal and the total fee, is 53 million Tomans.
Breakdown of Monthly Installments
The detailed installment plan is as follows:
- Standard Monthly Installment: 2,272,727 Tomans
- First Installment (includes 1st-year fee): 2,000,000 Tomans
- Thirteenth Installment (includes 2nd-year fee): 1,000,000 Tomans
- Total Amount Repaid: 53,000,000 Tomans
How to Apply
Retirees and pensioners can apply for the loan through two convenient methods:
- In-Person Registration: By visiting local retirement association offices in their province or city of residence.
- Online Registration: Through the official website of the Supreme Council of Retirees.
