All AboutMehr Iran Bank’s No-Guarantee Loan for WomenFor Women
If you’re looking for a loan with easy conditions, low interest, and no collateral needed, the “Women’s Savings” plan from Mehr Iran Bank could be a good choice. In this article, we will explain all the details about how to get the loan, installment amounts, and the specific conditions for women to help answer all your questions about this facility.
Who Qualifies for the No-Guarantee Loan from Mehr Iran Bank for Women?
This special plan is designed for women who own a home, are employed, or are heads of households. It offers them the chance to receive a loan up to 100 million Tomans without a guarantee, with a 4% interest rate and a maximum repayment period of 36 months.
Conditions to Receive the 100-Million Toman Loan from Mehr Iran Bank for Women
- Opening a Women’s Savings Account at Mehr Iran Bank
- Deposit at least 800,000 Tomans regularly for 4 consecutive months
- No bounced checks or overdue bank debts
- Continue monthly deposits of savings, simultaneous with repaying previous stage loans
- Successfully pass the bank’s credit evaluation steps (no guarantee needed)
Required documents to register and receive the loan
- National ID card and birth certificate
- Complete the account opening form and register for the plan
Loan disbursement steps and installment amounts
This loan is disbursed in stages, with gradually increasing amounts:
- First stage: 10 million Toman loan; repayment over 24 months
- Second stage: 36 million Toman loan; repayment over 24 months
- Third stage: 56 million Toman loan; repayment over 36 months
- Fourth stage: 100 million Toman loan; repayment over 36 months
**Note: To move to each next stage, the previous stage’s loan must be fully repaid.
Installment amounts and loan costs
With a 4% interest rate, the installment for the last stage, 100 million Toman, will be approximately:
- Monthly installment amount: about 3,030,303 Tomans
- Total interest paid: 8,000,000 Tomans
- Total repayment: 108,000,000 Tomans
- Application and credit check fee: about 300,000 Tomans
Why does this loan not require a guarantee?
One of the key features of the Women’s Savings plan is the removal of collateral from the loan process. Instead, bank credit evaluation replaces the guarantee, and after approval, the loan process can proceed.
Special Benefits for Female Head of Household
Women recognized as heads of households can present an official letter from their local governor’s office to access these facilities with a faster process and special benefits.
