Morvarid loan project is exposed at Bank Melli Iran

Bank Melli Iran's Morvarid loan project is exposed during a celebration with the presence of Abolfazl Najarzadeh the CEO and other members of the board of directors and executives.

According to BMI public relations, the Morvarid project's maximum amount is 5 billion Rial with 23, 20 and 17 % interest regarding this plan, and within the framework of the Central Bank rules and regulations, customers can make deposits at BMI and after 6 months of the specified conditions, they could use the loan.

To meet customers' all needs, this project is a Murabaha contract, and thus the target community for opening an account includes legal and private entities and individuals and the target recipient community includes all private individuals.

Legal entities (organizations and firms, also, can open an account at this special project and introduce their staff to Bank to receive the loan in exchange for obtained points.

All repayments of the loan will be in installments with equal and consecutive monthly installments.

Also after 6 months of opening the account, the applicant can convey the points of receiving the loan in this instruction and there is no limit in accepting points from others.

It is necessary to note that for every 10 million Rials in each month, one point is awarded to the customer.

The retention period, the repayment period, and the interest rate can be changed and calculated according to the customer's request, and applicants can go to BMI's branches to receive these loans.

Source: Tehran Times