Business And Markets

71% Rise in Marriage Loans

71% Rise in Marriage Loans
71% Rise in Marriage Loans

An estimated 190,000 newlyweds borrowed 255 trillion rials ($822 million) from banks since the beginning of the current fiscal year in March until June 21, the Central Bank of Iran said. 
In numerical terms the borrowers were 8.5% higher and the value of loans up 71% y/y. Marriage loans are interest-free and should be repaid in seven years. Couples can apply maximum up to two years after the pronouncement of their marriage.  
He steep rise marriage loans is linked to doubling the ceiling of loans. As per the fiscal budget, each partner who ties the knot can borrow 1.2 billion rials. 


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