Rewritten Title: National Bank of Iran Launches “Kalapi” Credit Scheme to Empower Retirees and Strengthen Household Economy
Article:
In a significant move to enhance household purchasing power and support domestic production, the National Bank of Iran has officially launched its new “Kalapi” loan initiative. This state-backed credit scheme is designed to provide a financial boost to retirees and other eligible citizens, enabling them to purchase essential goods and services through manageable monthly installments.
What is the Kalapi Loan?
The Kalapi is a managed credit card facility, introduced to offer easier access to financing. It allows approved applicants to make purchases directly from a wide network of contracted retail centers affiliated with the National Bank, without the need for a large initial deposit. This initiative is framed as a strategic step towards modernizing Iran’s banking services and stimulating economic activity from within.
Key Features of the Scheme
The National Bank has outlined the following terms for the Kalapi facility:
- Loan Ceiling: Up to 200 Million Tomans
- Annual Profit Rate: 23%
- Repayment Period: Flexible terms of 12, 18, or 24 months
- Collateral: Requires an official guarantor or is based on a digital credit assessment of the applicant.
For example, a retiree opting for the maximum 200 million Toman loan over a 24-month period would have a fixed monthly installment of approximately 10.47 million Tomans.
Strategic Economic Objectives
The rollout of the Kalapi scheme aligns with broader national economic goals. By facilitating access to credit, the program aims to:
- Strengthen Household Finances: Empower families and retirees to meet their essential needs without financial strain.
- Boost Domestic Production: Channel spending towards goods and services from contracted domestic suppliers.
- Promote Digital Banking: Advance the country’s shift towards modern, efficient digital financial tools.
A Streamlined Application Process
Prospective applicants can secure their Kalapi credit card through a straightforward process:
- Calculate the desired loan amount based on repayment capability.
- Undergo a credit rating check through the bank’s verification system.
- Submit details for a guarantor, if required.
- Complete the electronic application and file setup.
- Receive the physical card via mail within one week.
It is important to note that the Kalapi card is exclusively valid for use at the National Bank’s extensive network of partner stores, with plans to expand its utility to online retailers in a future phase.
This initiative represents a concrete effort by Iran’s banking sector to provide tangible solutions for its citizens, fostering economic resilience and supporting a dignified standard of living for retirees and working-class families.