Mazrahi Tefahot Bank offers reservists up to NIS 100,000 for Mortgages
Mazrahi Tefahot Bank announced a new program offering reservists a mortgage benefit. Soldiers who have served at least 90 days in reserves and are bank customers can receive NIS 100,000.
Mazrahi Tefahot Bank announced this morning (Thursday) the launch of a program offering reservists a mortgage benefit. The program will provide soldiers who are bank customers, having served at least 90 days in reserves, with an amount of NIS 100,000 or up to 10% of the mortgage value, whichever is less. This amount will be interest-free and not linked to the index for purchasing their first home. Additionally, they will be exempt from file opening fees.
According to Mazrahi Tefahot, eligible reservists can use the credited amount on their credit card to close an existing loan or as needed.
Reservists who already have a mortgage with Mazrahi Tefahot will be offered credit of up to NIS 100,000 via the Tefahot card. In this case, the amount will be provided under favorable conditions with long-term repayment plans of up to 20 years. "There will be no need for a prior commitment to the credit amount required - only the amount used will need to be repaid," explained the bank.
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