The loan will be granted based on the priority in needs and availability of resources.
There is a service charge which is around 1-4 percent subtracted from the amount of the loan.
The monthly repayment period is usually 12-60 month.
The guarantee of an accredited person is essential.
Depositors can withdraw any portion of their deposits whenever they wish.
The loan ceiling does not depend on the financial status and the applicant’s needs. It is 20 million IR Tomans for individuals and 150 million IR Tomans for legal entities.
Main resources are composed of:
- Monthly member deposits.
- Received service charges ( 4 percent service charge is imposed to the loan).