Getting to know the types of loans and the conditions for receiving bank loans
A loan is one of the tricks of the economic world to create comfort in people's lives, and nowadays it is one of the solutions that people use to provide the necessary liquidity for their various jobs. are placed, now you can get different types of loans from banks and Qarz Al-Hasna funds, which we will discuss in this article.
What is a loan?
A loan is actually a type of loan in which a person or a lending institution pays a certain amount of cash to the borrower in exchange for a fixed and specified interest. There are different types of loans, and the methods of interest calculation and repayment time are also different from each other. Of course, there is a general chart and definition for the loan system in Iran, which the majority of loans follow. In this system, a person or a lending institution, which is usually a bank, pays an amount as a loan to the borrower
in exchange for receiving a guarantee such as a check, pay slip, house or land document, car, or other cases. Repayment of the principal of the loan and its interest in installments is usually arranged in monthly installments, and the borrower undertakes to pay them at specific times.
From what sources does the bank finance the loan?
Different loan funds are provided in different ways. But in general and in most cases, these are people's cash for which individuals do not have a specific plan, and banks collect this cash and use a part of it to grant loans to applicants.
In addition to this government budget, the profits of banks and institutions from their businesses and investments, the profits of other loans, long-term deposits of people to receive profits from the bank, and any method that leads to earning money for banks, are Among the sources of financing loans.
In addition to the routine work that we see, banks invest in construction projects and other investment methods in Iran and transfer the profits from these investments to their work cycle.
In some cases, the government itself, in order to meet the needs of large units and various businesses, considers a budget for granting loans to them, which are taken from the government's currency reserve fund, and after their repayment, they are returned to their place. What Are Loan Proceeds?
Types of loans
Among the common types of loans in Iranian banks, the following can be mentioned:
marriage loan
It is one of the most common loans. In order to raise the spirits of young people and facilitate marriage at the beginning of life, the government grants marriage loans to young people. The fee for this loan is 4 % and the loan amount increases every year. Currently, the loan amount is 100 million tomans. For the families of veterans, this amount is doubled.
Mortgage
A mortgage loan is one of the usual loans that is paid based on a real estate document, the payer is Bank Maskan, but sometimes other banks also pay it.
Housing Bank provides loans in the form of various projects such as housing for young people, housing for couples or first homes, housing loans with housing bank bonds, and several other projects that can only be received by presenting a house deed. The terms of payment of these loans are different. but in all of them, the condition of buying a residential house with a construction period of less than 25 years is fixed.
Also, the amount of the loan is different based on the price of the property in the desired city.The fastest way to get a mortgage is through the purchase of mortgage bonds. It has a lot of bank profit compared to other methods.
You can calculate the number of installments and the interest rate of your loan through the SAD24 system or by downloading the SAD24 software easily and in the shortest time.
Loan for the purchase of goods
This loan is for the purchase of essential goods such as refrigerators, carpets, televisions, etc. 18% fee is paid to the applicants by most of the banks.
Borrowers are usually only able to buy goods from stores contracted by the bank.
car loan
This loan is paid to the applicants for the purchase of a car up to 15 million Tomans and with a fee of 18 %.
It is usually for the purchase of domestic cars, and the bank uses a fraction of the salaries of government officials as a guarantee from the borrower to pay for it.
used car loan
One of the measures taken by the government to reduce climate and environmental pollutants is to provide facilities for replacing worn-out cars for the owners of these cars. This plan is paid to people in some banks with different amounts. Taxis are the main target of this plan, whose facility amount is usually paid with 4% interest. Of course, there is a price ceiling for this type of loan and each bank has defined its own conditions for it.
Housing repair loan
A loan for home repair is a facility that is granted to the owners of old houses for the maintenance of their houses.
The amount of this loan is currently 40 million tomans, most of the couples use the housing loan in addition to the housing loan to increase their balance in order to buy the desired housing.
It is suggested that you read the article on rural housing loans of 100 million tomans in the SAD24 blog.
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