CBI Expedites Security Deposit Loans to Home Renters

A total of 2,358 accounts have been opened with designated banks for security deposit assistance loans. 
Owners of 1,639 accounts have received loans worth 285,250 million rials ($1.1 million), the Central Bank of Iran reported. 
The interest-only security deposit loans worth 500 million rials ($1,943) in Tehran, 300 million rials ($1,165) in large cities with a population of over one million, namely Mashhad, Isfahan, Karaj, Shiraz, Tabriz, Qom, Ahvaz and Kermanshah, and 150 million rials ($582) in other Iranian cities will be paid in the name of tenants but the sum will be put at the disposal of landlords, IRNA reported.
Renters of homes with an area of less than 75 square meters in Tehran and 90 square meters in other cities will qualify for this type of funding. Newlyweds of the current year, breadwinning women, those who do not have a property in their name (since the year ending March 2006 and households with five members as well as those supported by charitable organizations (such as Imam Khomeini Relief Committee and the State Welfare Organization) are the specific target groups of security deposit assistance loans; single persons and the self-employed won’t receive such loans.