Or, in other words: an especially flexible non-linked mortgage in shekels, for a period of up to 30 years.
- Avoids any increase in the loan principal.
- A long-term non-linked mortgage, where the interest rate is updated on an annual basis.
- Fixed monthly payments for each year (unlike the constantly-fluctuating payments associated with prime-based mortgages).
- Loan principal is constantly diminished due to inflation – even with inflation is relatively low.
- Continual balance reduction.
- Total flexibility:
- the mortgage can be repaid in part or in full once a year, with no penalty for early repayment
- Option to switch to a different mortgage type at every interest rate update point. The advantage: your decision to take this type of mortgage is never set in stone, giving you complete flexibility and peace of mind.
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.