Banks Censured for Deflecting Marriage and Childbirth Loans

EghtesadOnline: The new CBI boss Mohammad Reza Farzin has urged parliament to take banks' shrinking resources into account before deciding the lending largesse.

News ID: ۷۵۲۲۵۱

12 February 2023

The Majlis Research Center (MRC) has singled out banks and credit institutions for special criticism for what is said is their poor performance in extending loans for marriage and child birth in the first eight months of the current fiscal year (ends in March).

A study published on the website of the influential think tank showed 46% of marriage loan applicants managed to get the money. The figure was 66% during the same period last year.

Marriage loans are interest-free repayable in seven years. Couples can apply up to two years after the pronouncement of their marriage.

The government doubled marriage loans for this year.