Through housing savings fund account for IRR 200,000,000 Through housing savings fund account for IRR 200,000,000

Maximum amount of loan facilities: IRR 200,000,000 for purchase, construction and completion;

Amount of deposit: IRR 100,000,000

Waiting period: 12 months

Interest rate of loan facilities: 11%

Refund period: Maximum 12 years

Refund procedure of loan facilities: Plain and stepwise, annual and periodic;

Property appraisal and value estimation: 80% of total price appraised by the bank’s expert shall suffice the amount of loan facilities.

Age of building: Maximum 25 years;

1- The said loan facilities are granted with deposit and paid through housing savings fund account.

2- Loan facilities are granted through housing savings fund account on the units of which maximum years is 25 years (Base for calculation is the issuance date of the first building permit).

3- In case the holders of housing savings fund accounts with a record of using loan facilities with deposit of Bank Maskan will benefit from new loan facilities with deposit for construction or purchase of housing at interest rate of loan facilities with deposit at housing section on the condition of settlement of debt of previous loan facilities or transfer of remaining debt to another party.

4- The corresponding amounts less than IRR 50,000, average amount of balance is not included in calculation for payment of loan facilities.

5- Transfer of privilege of this account to another party even in form of representation is forbidden. Benefiting from the said loan facilities of this account is pending direct referral of the depositor.

6- Current holders of housing savings fund accounts may share the said account with their close relatives (parents, spouse, sisters, brothers, children, grandparents and grandchildren) and/or transfer their account to the said persons as the case may require.

7- Average amount of account balance will be calculated according to the regulations and conditions put forth by the Bank for the least balance daily.

8- Requirements for benefiting from the privilege of the housing savings fund account are governed by the criteria enacted by Monetary and Credit Supreme Council at time of using the said loan facilities.

9- Payable interest to the housing savings fund account will be calculated according to the interest rate of ordinary short-term depositing based on plain method in case of withdrawal of the accountholder from obtaining the loan facilities and upon cancellation of the said account.

Table of maximum loan facilities and conditions of average balance:

 

 

 

Maximum amount of loan facilities for purchase or construction and completion

Equality coefficients

Maximum equality coefficients

Minimum required waiting period

Minimum average of balance needed in each period

35 Million Rials

6 months, one time 

7 periods

6 months

5 Million Rials

50 Million Rials

6 months, one time

7 periods

6 months

7 Million Rials

60 Million Rials

6 months, one time

7 periods

6 months

9 Million Rials

70 Million Rials

6 months, one time

7 periods

6 months

10 Million Rials

80 Million Rials

6 months, one time

7 periods

6 months

12 Million Rials

100 Million Rials

6 months, one time

7 periods

12 months

14 Million Rials

120 Million Rials

6 months, one time

7 periods

21 months

17 Million Rials

150 Million Rials

6 months, one time

7 periods

12 months

22 Million Rials

180 Million Rials

6 months, one time

7 periods

12 months

26 Million Rials

200 Million Rials

6 months, one time

7 periods

12 months

29 Million Rials

 
Modified Date1398/6/25- 9:10