A solutions package for residents of the South and to all our customers

These days, our bankers are sensitive to the needs of customers who have encountered difficulties or require special assistance in the various aspects of managing their accounts.
For inquiries or redemption of the benefit, we invite you to contact us the manner that is most convenient for you:

• Write a message to your banker
• Call a dedicated banker for residents of the south by phone *5080

Freezing mortgage payments

Due to the current situation, the Bank of Israel is updating the outline for deferring mortgage payments without incurring a fee for payment schedule changes, which includes extensions and additional changes for requests submitted between 1 April 2024 and 30 June 2024 (the updated outline).

This follows previous outlines for deferring payments without fees for payment schedule changes:

• On 15 October 2023, an outline for 3-month deferments
• On 17 December 2023, an update to the original outline was released that expanded the first outline for requests submitted between 1 January 2024 and 31 March 2024

To facilitate your needs, Bank Mizrahi Tefahot has decided to expand the Bank of Israel outline to postpone payments for a period of up to 12 months along with other benefits.

Who is eligible for the benefit?

The benefit will be given to a group of customers defined by the Bank of Israel as eligible:

• Customers who reside up to 30 km from Gaza or up to 5 km from the north border
• Customers evicted from their homes by a state official
• Immediate family members (spouses, parents, siblings and children) of victims, hostages or missing persons
• Hostages or missing persons who have returned
• Customers recruited to reserve duty by "Decree 8" or patients hospitalized for at least 7 days due to an injury caused during the Swords of Iron War
• Persons injured in one of the following events: the "Nova Festival" in Reim, the "Psyduck Party", and the "Midburn Festival" planning meeting

Increasing the amount of current account facilities

In order for the account facility not to be exceeded, we allow you to increase the amount of the current account facility limit up to NIS 30,000 (subject to the bank's discretion). To redeem the benefit, you can log in to your bank account on the website, and in the current account area select the menu: Increasing the credit facility. In the app, log in to your personal area and select Increase credit Facility.

Who is entitled to the benefit?

• Private customers whose bank accounts are managed at one of the following branches: Sderot (484), Ofakim (437), Netivot (428), Ashkelon (427), Ashkelon Barnea (490), Beer Sheva Business Center (426), JNF (Kakal) (544), Masada Road (566), Kiryat Gat (433), Kiryat Malachi (450), Yavne (540), Ashdod Business Center (416), Ashdod City (565), Ashdod Industrial Zone (615)

Was your car damaged in the war? We're there by your side

If your car was damaged in the war, we wish to be there by your side and offer you a bridging loan of up to 100% financing that will allow you to buy a car and regain your mobility quickly. The bridging loan is part of Mizrahi-Tefahot Leasing's unique collaboration with UMI Group (UMI, Dan Lease-A-Car, Avis). The loan can be repaid after 3 months or until the compensation from the property tax is received, without interest and without linkage. For further details, including ways to redeem this benefit

Withdrawing money from a deposit

If you have money in a deposit that is closed for withdrawals of funds, and due to the situation, you have an immediate need for money, you can request to make a withdrawal of up to NIS 100,000 without costs.

Who is entitled to the benefit?

• Customers with a personal or business account, who live up to 40 kilometers from the border with the Gaza Strip

Variety of benefits and concessions to all of the Bank customers and to the residents of the South

Freezing mortgage payments

Customers who have a mortgage at the bank can request partial or full freeze on monthly mortgage repayments for up to 12 months.
Exemption from commission when changing the payment schedule for each of the loans. Click here for further details and to submit a request for a mortgage freeze.

Who is entitled to the benefit?

• Customers who have a mortgage with Mizrahi-Tefahot that is paid from their current account in Mizrahi-Tefahot. Approval of the rejection is subject to the discretion of the bank. Failure to repay the loan may result in charges of interest in arrears and execution proceedings

Deferment of loan payments

Have you taken a loan from us? You may request a deferment of loan payments for up to 3 months.

Who is entitled to the benefit?

• Customers with a private account - Deferment of loan payments up to a cumulative amount of NIS 100,000
• Customers with a business account - Deferment of loan payments up to a cumulative amount of NIS 2,000,000
  
  Deferment of loan payments is exempt from a loan modification fee.

How to realize the benefit

• Digital - Log in to your account on the bank's website → My loans → Breakdown of shekel loans → Request to defer repayment of a shekel loan
• Contact your personal banker on the website or app. You can also call *8860

Attention: Those who are first-degree relatives (spouses, parents, siblings and children) of victims, those who have been kidnapped or missing persons, and the population serving in the military reserves or recruited under Order 8, must declare this fact after applying for deferment, by "Contact a banker" on the website/ application, or using the various banking communication channels. Victims of the "Psyduck Party", victims of the Midburn Festival planning meeting (subject to providing confirmation for being a victim of hostilities from the National Insurance Institute)

Customers defined as "first circle" according to the Bank of Israel's outline - People residing up to 30 kilometers from the Gaza Strip or up to 5 kilometers from the norten Border, those who were forced to evacuate their homes by the order of a state official, those who are first-degree relatives (spouses, parents, siblings, and children) of victims, those who have been kidnapped or missing persons, "Nova" party participants in Reim and the population serving in the military reserves or recruited under Order 8, will be credited by the cost of interest for the deferment amount. 

Please note: For customers who have not been defined as "first circle", payment deferment bears interest on deferment period. Therefore, before deciding to defer payments, it is important to examine the deferment implications, including the economic cost of deferment (in terms of interest cost, post-deferment monthly billing amount, etc.).

Clarifications

• Subject to the outline from the Bank of Israel, the bank’s discretion and its terms and conditions
• This does not apply to borrowers who are in legal proceedings
• Borrowers who had delayed loan repayment as of the outline publication date, may receive deferment of up to 180 days from the delay commencement date
• Subject to the Bank of Israel's outline, the bank's terms and discretion
• The bank may change the terms at any time and subject to any law
• Business credit with a turnover of up to NIS 25,000,000, excluding loans in commercial cooperation with a third party
• The loan spreading manner is subject to technical limitations deriving from the bank's computer system
• The bank adopted the expanded outline of the Bank of Israel that took effect on 4 January 2024:
  Customers who did not defer payments before 31 March 2024 will be entitled to defer loan payments for a period of 3 months.
  Customers who have already deferred payments for a period of up to 6 months under the framework of the outline during the first phase (before 31 Dec. 2023) and/or the second phase (before 31 March 2024) will be entitled to defer loan payments for an additional 3-month period, for a total deferment period of 9 months