Granting loan facilities with deposit up to IRR 120,000,000 in form of time purchase
Maximum amount of loan facilities: IRR 120,000,000
Amount of deposit: IRR 240,000,000
Waiting period: 6 months
Interest rate of loan facilities: 11%
Maximum refund period: 12 years
Refund procedure: Plain and stepwise, annual and periodic
Property appraisal and value estimation: 80% of price appraised by the bank’s expert shall suffice the amount of the loan facilities.
Building age: Maximum 25 years
- One of the plans of Bank Maskan is housing Savings account in form of “time purchase”.
Time purchase means that after passage of six months of depositing, the customers may benefit from the privilege of their housing Savings fund account over IRR 80,000,000 up to IRR 120,000,000.
- In order to benefit from this plan, average amount of account balance shall be twice as much as the amount of receivable loan facilities.
For example, in case an applicant deposits IRR 240,000,000 for six months, he may benefit from maximum loan facilities for IRR 120,000,000.
- Payment of loan facilities over IRR 120,000,000 is not possible by using time purchase.
- Full observance of the specifications indicated for residential units subject to loan facilities for purchase, completion and/or construction by the bank in consideration of current bank criteria for obtaining loan facilities is mandatory for all recipients of loan facilities.
- All depositors of housing Savings fund account are highly recommended that prior to creation of any kind of obligation for purchase of a specific residential unit, they should become aware of the recent regulations and criteria of the bank for residential units subject to obtaining loan facilities and the they embark on creation of an obligation.
For further information, all applicants for obtaining loan facilities may contact phone number +98-21-61088, Customer Relation Division of Bank Maskan and become aware of the recent conditions and criteria for graining the said loan facilities.