Deferring loan payments extended today (Tuesday) by the Bank of Israel’s Banking Supervision Unit will benefit bank customers, but at the same time, without a proper calculation of the benefit of the deferral, it could hurt many households and businesses. Tal Harel Matityahu, chief of staff of the Supervisor of Banks, explained in a conversation with Walla! NEWS that the decision “will help deal with the financial difficulty, but it is a loan that needs to be repaid, like a new loan that you repay later in the period, and that has consequences.”
Harel Matityahu warned: “A customer who chooses to use this right should check the financial cost, because there is an extra he has to pay. Mortgages are a six-month automatic deferral plus three months until the end of the year. A customer can reach a total of nine months and even those who did not use it Still, a new customer can take advantage of this six months from now. “
She explained the outline and said the move is not a grant. “So we took three types of credit. In mortgages, the loan is unlimited in amount, in consumer credit, the loan is up to NIS 100,000, and in business credit, the business is subject to an annual turnover of NIS 25 million, which was damaged as a result of the crisis. Opinion, deferring peace is not a grant or a gift, and it does come at a cost, but it makes it possible to deal with an immediate cash flow difficulty, ”she said.
*The article has been translated based on the content of Source link by https://news.walla.co.il/item/3389508
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