BMI Housing Loan Applicants Reach 26,000

The number of prospective homeowners applying for state facilities under a special housing scheme launched by Bank Melli of Iran as recently as January hit 26,000, BMI’s Public Relations Office announced.
BMI’s Housing Savings Account offers potential applicants two options based on investment and interest rates. 
Under the first option, applicants acquire a priority bond for depositing 182 million rials ($4,333) in their account for a month, which fetches a loan worth 5 million rials ($119) with an interest rate of 17.5%, IBENA reported on Wednesday. 
But the second option requires an investment of 223 million rials ($5,309) for each priority bond and its interest rate has been set at 12%.