From first house(Maskan Yekom) buyer savings fund From first house(Maskan Yekom) buyer savings fund

First house buyers Savings fund for the spouses who are benefiting from loan facilities for the first time:

First house buyers savings fund account for the spouses is opened for granting loan facilities for purchase and construction of residential unit for married individuals.

Maximum amount of loan facilities:

In city of Tehran: IRR 1,600,000,000 (each of spouses: IRR 800,000,000);

In metropolises of which population is above 200,000 persons: IRR 1,200,000,000 (each of spouses: IRR 600,000,000);

Other urban regions: IRR 800,000,000 (each of spouses: IRR 400,000,000);

Interest rate of loan facilities: 8%

Primary minimum waiting period: 12 months;

Refund period: Maximum 12 years;

Refund method: Annual and periodic simple and stepwise method;

Being first house buyers for the spouses applying for the loan facilities is mandatory.

Definition of the applicants for loan facilities for the first time:

Eligible Applicants (applying for loan facilities for the first time):

  1. The applicants, married or single, should have 18 years old with an independent income.
  2. Granting loan facilities of First house buyers housing savings fund to married individuals either individual loan facilities or loan facilities for spouse is possible if the recipient of loan facilities and his/her spouse are applying for the loan facilities for the first time (as of Oct. 23, 2018 onward).
  3. The applicant and his/her spouse have not benefited from governmental loan facilities for housing. Inquiry of Form C from Ministry of Roads and Urban Development confirming that the applicant has not benefited from governmental facilities for lands, houses, subsidy facilities and the ones (From Oct. 23, 2018 onward);
  4. The applicant and his/her spouse have not benefited from loan facilities of Bank Maskan and other banks for purchase and construction of residential units, transfer of proportional share or repair of a residential unit (From Oct. 23, 2018 onward). 
  5. Granting loan facilities of First house buyers savings fund to single persons, widows and divorcers and divorcees is free of impediment provided that the applicant has an independent income. Regarding these individuals, the applicant should benefit from such facilities for the first time and it is not necessary to obtain an inquiry to the name of the spouse of recipient of loan facilities (From Oct. 23, 2018 onward).

Note 1- This circular is effective for the accounts of First house buyers savings fund that have been opened from Oct. 23, 2018 onward.

Note 2- Regarding the accounts opened before Oct. 23, 2018, the corresponding regulations of opening date of the said account are governing. Granting loan facilities of First house buyers savings fund provided that the corresponding accounts have been opened before the said date and that the applicant for the loan facilities of such fund is applying for the said loan for the first time is free of impediment and it is not necessary for his/her spouse to benefit from such facilities for the first time either.

Note 3- Accountholders of First house buyers savings fund of spouses will be able to benefit from maximum loan facilities with deposit after passage of at least 12 months (two six-month period) as of opening date of their account according to average of necessary balances. Hence, if the depositors in the city of Tehran are willing to benefit from loan facilities for IRR 1,600,000,000, they should deposit IRR 800,000,000.00, IRR 600,000,000 for loan of IRR 1200,000,000 in cities of which population is above 200,000 persons and IRR 400,000,000 for loan of IRR 800,000,000 in other city regions for one year in First house buyers savings fund account of spouses.

Loan facilities of spouses up to the aforesaid maximums are possible only once.

Payment of loan facilities to spouses with preferred securities:

In case one of the spouses enjoys the privilege of First house buyers savings fund, and another spouse is not, he/she with his/her spouse shall jointly benefit from the privilege of preferred securities for purchase of one residential unit. Hence, the spouse benefiting from Yekom loan facilities, he/she has used the maximums of IRR 800,000,000, IRR 600,000,000 and IRR 400,000,000 based on type of city, another spouse benefiting from preferred securities, will be able to use the maximum loan facilities of IRR 500,000,000, IRR 400,000,000 and IRR 300,000,000 totally amounting to IRR 1,300,000,000in city of Tehran, IRR 1,000,000,000 in capital cities of other provinces and cities of which population is above 200,000 persons  IRR700.000.000 and in other city regions on one property.

Note: Consolidation of privilege of loan facilities of Maskan Tekom savings fund of any of spouses including the privilege of his/her other housing undertaken accounts (including Maska Yekom savings fund account, housing savings fund, housing construction savings fund (only for construction) and housing savings account for the youth) separately and according to general regulations of First house buyers savings fund account is free of impediment.

Specifications of property:

The property introduced by the applicant should enjoy the requirements and conditions (such as full observance of Bylaw 2800 and building strength confirmation according to other loan facilities) and over 15 years have not passed as of issuance date of building permit (construction license). In this plan, payment of loan facilities beyond limits of city services is not possible.

Interest rate of loan facilities in exchange and partnership contracts through First house buyers Savings Fund:

1

Civil partnership loan facilities and housing sale by installments (purchase-transfer of proportional share) through First house buyers savings fund account- in worn-out and inefficient urban textures- those who purchase housing for the first time;

6%

2

Civil partnership loan facilities and housing sale by installments (purchase and transfer of proportional share) through First house buyers savings fund account in worn-out and inefficient urban textures except for those who purchase housing for the first time; 

8%

3

Civil partnership loan facilities and sale of housing by installments (purchase and transfer of proportional share) through First house buyers savings fund account beyond worn-out and inefficient urban textures

8%

4

Civil partnership loan facilities through First house buyers savings fund account of mass developers for construction in worn-out textures

8%

 

  1. Interest rate of loan facilities given in above table refers to the loan facilities contracts that are concluded from May 9, 2018 onward (final registration of contract). It should be noted that  in civil partnership loan facilities and housing purchase contracts registered at notaries public, registration date of the contract at the notary public office and regarding the contracts which have been drawn up internally (such as contracts of sale by installments from proportional share either gradual or final), conclusion and registration date of contract will be regarded as base for action at bank, due date and maturity date of refund of installments will be fixed based on the said dates accordingly. Moreover, for the contracts of which drafts have been submitted to the notaries public but the corresponding contract has not been registered at the notary public office, the draft will be returned and new calculations will be made according to the same rates indicated in this circular to be submitted to the notaries public.
  2. Considering the 2-percent discount in interest rate of loan facilities through First house buyers savings fund, the depositors who purchase housing for the first time, regarding worn-out and inefficient urban textures, applying discount in interest rate of loan facilities requires that the applicant applying for purchase of housing for the first time and simultaneously  a written request will be made from the Iranian Urban Civil Development and Improvement Holding Company (General Department of Road and Urban Development of Provinces as agent) and/or municipalities confirming the location of property in worn-out and inefficient urban textures archived in loan facilities file as one of the main documents. It is emphasized that further to assurance about location of the property in worn-out texture, upon inquiry and reply to the said inquiry from one of the said competent authorities and review and confirmation of particulars of the bank’s appraiser, it is necessary for the applicant use the said facilities for the first time (at least 18 years old with an independent income, no use of loan facilities of Bank Maskan and other banks for purchase and construction of residential unit, transfer of proportional share or repair of the residential unit and no use of governmental facilities for housing) for payment of loan facilities of First house buyers savings fund with an interest rate of 6% (applying discount in interest rate).
Modified Date1398/5/19- 11:1