All the tracks that will make it easier for borrowers (Photo: PR Discount)
Ahead of the expected interest rate increase tomorrow, Discount Bank continues to offer a freeze on the increase in mortgage payments to its customers who have difficulty paying their monthly repayments due to increases in the Bank of Israel interest rate and the increase in the CPI.
The bank will allow its customers to reduce the monthly mortgage repayment to the level it was in September 2022, before the last 5 interest rate increases, including an increase expected tomorrow. The deferred amount will be refunded starting at the end of 24 months, spread out into 36 installments, without interest and without linkage.
As part of the benefit, an amount equal to the increase in the monthly repayment of the mortgage from September 2022 to the present will be transferred to customers' accounts, including the expected interest rate increase tomorrow (6 phases of increase in the Bank of Israel interest rate) in the amount of up to NIS 1000,24 per month. The amount will be repaid at the end of 36 months, as a 6-month spread loan with no interest or fees, including in case of early repayment.
This move joins a series of solutions and concessions provided by the Bank for all its customers, including deployment for a longer period of the duration of the mortgage term in the prime track without change in the interest rate and without commissions, and the possibility of a full or partial freeze of mortgage payments for a period of up to <> months, with or without extension of the term - without payment of commission.
The process of obtaining the interest-free loan is offered to customers with an existing mortgage at the bank who meet all the following criteria:
- For customers who transfer salaries up to NIS 20,000 to their current account
- The loan is for a single apartment that is not for investment
- The loan is paid without arrears
- money
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- Discount Bank
