TEHRAN, Iran, July 23
Trend:
The Central Bank of Iran will improve the mortgage loan conditions to support the low-income class in the country, said the Governor of the Central Bank of Iran Abdolnasser Hemmati, Trend reports Mehr News Agency.
"The mortgage loan for low-income families has been affected by the COVID-19 situation," Hemmati said, adding that a $4.7 billion mortgage loan with a 13-percent interest rate will be assigned to low-income families.
"The interest can be paid back within a year," he said.
"The Ministry of Roads and Urban Development will choose the qualified candidates that can afford to pay back the loan with interest," he said.
"Individuals can choose from two options of paying the loan back with the interest - over a year or monthly payments with a 12-percent interest rate."
"The Central Bank of Iran tries to aid low income classes and control liquidity, during the country's economic difficulties," he added.
"The low income class is the target of this mortgage loan plan, so I ask all the banks to put it on priority, along with supply of financial aid to production units," he said.