Or, in other words: you decide when to change your interest rate
- People who are anticipating an increase in income and may wish to repay part of their mortgage early.
- Those expecting to see a decrease in the interest rate.
- The possibility of enjoying a lower interest rate in the future, if interest rates drop.
- Option to repay the loan early without incurring penalties (at the points when the interest is updated).
- The loan can always be converted into a fixed-interest loan..
Please note that, in accordance with the directives provided by the Bank of Israel's Supervisor of Banks, Bank of Jerusalem has no influence over the basis for determining the interest rate at each update point. Provision of credit is at the sole discretion of the bank. Failure to comply with loan repayment may result in interest on arrears and repossession proceedings.