Fereydon Yadgari
What are housing facility bonds?
These bonds are issued by Bank Maskan. This bank has created a premium investment deposit account so that the depositors of this account, in addition to receiving regular short-term deposit interest, also benefit from housing facility bonds.
Specifications of housing facility documents
These bonds can be traded over-the-counter. Each sheet of these papers will represent 5,000,000 Rials of facility. These papers are allocated by Maskan Bank on the 15th of every month to the holders of premium deposit accounts, and after going through the legal procedures and being deposited with the deposit center, its trading symbol is first The next month, it will be reopened and traded in the OTC.
Facility ceilings for construction, purchase and repair of residential units from housing facility bonds are 350 million Rials, 350 million Rials and 100 million Rials, respectively, and within the framework of Housing Bank regulations.
The trading symbol of these bonds includes the name of the month and the last two digits of the year of issue. For example, the housing facility score symbol of Mehr 90 is related to the bonds that were published in Mehr 90. The validity period of the issued bonds is for two years from the date of issuance, which can be extended by the opinion of Maskan Bank and in special circumstances up to two periods of 6 months. Therefore, bonds that have less time left from their validity date have different prices, so a separate trading symbol is assigned to these bonds for each month.
Important points:
If the validity period of these bonds is over and the bond holder does not use its facilities, its trading symbol will be stopped and the funds paid for the purchase of bonds will not be returned to them. Therefore, it is recommended that investors who do not intend to use the facilities of these bonds sell the bonds in the market before the end of the credit period.
In each trading session, each transaction code is only allowed to enter purchase order up to 90 housing facility sheets and carry out transactions in all housing facility bond symbols.
Buyers of housing facility bonds cannot sell until 2 months after the purchase date. This restriction will not be applied to symbols that have only 4 months left until the end of their trading in the Iranian OTC market.
How to use facilities for buyers of residential units
Bond holders can apply for facilities by visiting Maskan Bank branches and presenting their certificates and documents related to the desired residential property. The desired property must have the specifications defined by the bank, and the interest rate of the facilities granted from the place of these bonds is also equivalent to the interest rate of the housing sector without deposit. The maximum repayment period of the facility paid from the location of these bonds will be different based on the amount of the facility received. The conditions of receiving facilities from the place of these bonds, such as the ceiling of the facility received, the specifications of the desired residential area, the percentage of interest paid for this facility, the validity period of the facility bonds and other other features are determined and can be changed by Bank Maskan.
When buying and selling these bonds, the investor pays a transaction fee
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