HSA Deposits in Iran Up 70% YOY

Down payments by applicants in Bank Maskan’s three-year-old mortgage scheme that targets first-time home buyers have increased 70% in value over the year ending June 21.
“Deposits made into the Housing Savings Account totaled 68,740 billion rials [$1.58 billion] in the form of 339,305 accounts at the end of the third Iranian month, registering a 70% rise in value compared with the same period of last year,” Bank Maskan’s Public Relations Officer Mehdi Ahmadi said.
The jump reflects the growing popularity of the initiative, Ahmadi said in an interview on Wednesday with HIBNA, Bank Maskan’s news website. 
HSA is aimed at lending support to first-time homebuyers by offering facilities at low interest rates in return for an initial deposit held by the bank for at least a year.