Bank of Israel outlines plan for those affected by Iran conflict: Mortgage deferrals and aid for small businesses

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Bank of Israel has published its framework to assist populations directly impacted by damage from the conflict with Iran. The plan will take effect on July 1. Among the benefits: deferral of mortgage payments without amount limitations for a period of three months. Deferral of consumer loan repayments in a cumulative amount of up to 100,000 shekels for three months. For micro and small businesses: a two-month deferral for loan repayments in a cumulative amount of up to 2 million shekels per business that requests it, without interest charges and fees. Additionally, for businesses owned by reserve soldiers - an exemption for a period of two months from interest charges on overdrafts in the business account.
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