Loan facilities in form of contract of reward with deposit:
Maximum amount of loan facilities: IRR 50,000,000.00
Amount of deposit: IRR 50,000,000.00
Duration of depositing: Six months
Interest rate of loan facilities: 11%
Duration of refund: Maximum five years;
Contract of reward for repair (renovation): Drilling or repair of water wells, bathroom and kitchen servicing, repair or asphalt of roof top and tile work, transfer of doors and windows, plumbing, repair of heating and cooling systems, interior minor repairs of buildings, painting, purchase of water and
electricity lines, water and gas pipelining, repair of building worn-out wiring;
Contract of reward for completion: Yard development, fencing, tile and mosaic work, water and gas pipelining, installation of heating and cooling equipment; kitchen cabinet mounting, completion of basement, drilling of water wells, moquette,parquet and ceramics work, interior building changes;
Note: In case of passage of two waiting periods (one year), the recipient of loan facilities benefits from discount of interest by 1% of loan facilities with deposit.
Term of payment of loan facilities of in form of contract of reward: Presently, loan facilities in form of contract of reward are paid once.
Duration for fulfillment of liabilities: One month; recipient of loan facilities is obligated to pay the first installment within one month after conclusion of Contract of reward.
Kinds of acceptable pledges:
- Promissory note
-*Amount of receivable pledge: 120% of total principal amount and interest thereof;
-*Receivable guarantee: Guarantee of one eligible obligor confirmed by the bank branch;
- Conclusion of an internal contract only on the properties mortgaged with the bank: For loan facilities for sale by installments, purchase or sale by installments from partnership:
-*Amount of receivable pledge: As much as the original amount and interest of loan facilities;
-*Receivable guarantee: Guarantee of two eligible obligors confirmed by the branch;
- Special short-term or long-term investment deposit:
-*Amount of receivable pledge: 110% of total principal amount plus interest thereof;
- Mortgage of the entire six shares of an immovable property and surplus share:
-*Amount of receivable pledge: Total of principal amount and interest thereof;
-*Receivable guarantee: Submission of the applicant’s income certificate (confirmed by the branch);
- Payment of loan facilities up to maximum amount of IRR 50,000,000 to civil servants by conclusion of an internal contract and guarantee of one eligible obligor (civil servant) and obtaining income certificate and undertaking letter from eh corresponding organization of the civil servant confirming deduction of installments from the salary of the recipient of loan facilities if he/she fails to duly pay the installments by the recipient of loan facilities on the units which are not mortgaged with the bank.
Payment of re-loan facilities:
- Payment of re-loan facilities with or without deposit and no time limitation and through payment of the remaining debt of the previous Contract of reward is free of impediment.
- Payment of loan facilities in form of Contract of reward to the applicants who have used the loan facilities in form of Contract of reward for repair from other banks in case of settlement of the loan facilities received according to the corresponding rules and regulations is free of impediment.
Loan facilities jointly with preferred securities:
Further to loan facilities amounting to IRR 50,000,000 and upon purchase of preferred securities for IRR 50,000,000, it is possible to use the maximum amount of loan facilities for IRR 150,000,000 for repair or completion of the residential unit. Interest rate of loan facilities through preferred shares is given as 17.5% and refund period of the said loan is given as maximum five years.
Purchase of securities: Referral to one of the branches of Bank Maskan or one of the branches of Farabourse brokerage agencies and referring to the following site for information about the last price of securities: