Home construction loans in urban slum areas have been paid to 20,013 applicants since March 2019, Mohammad Hassan Alamdari, a senior official with Bank Maskan, the state agent bank of the housing sector, said.
“The total value of these loans stands at 13,700 billion rials [$55.35 million],” he was quoted as saying by the news website of the Ministry of Roads and Urban Development.
Bank Maskan has increased the value of loans it offers in urban slums to home builders who use advanced technology from 2,500 million rials ($10,101) to 30,000 million rials ($12,121), he added.
Renovation loans at the lending rate of 9% worth 500 million rials ($2,020) in Tehran and other large cities, and 400 million rials ($1,616) in other cities are being granted to owners of homes located in urban slum areas who rebuild their property.
Alamdari said other banking facilities will be offered at a lending rate of 18%.
