Bank Hapoalim and Independent and Business Organization initiated a fund of NIS half billion

Bank Hapoalim is expanding its assistance to its customers in order to enable them to overcome the crisis. The Bank and the Lahav Organization (Independent and Business Organization in Israel) initiated the establishment of a fund of NIS half billion, which will start an immediate loan tomorrow, without the need to reach the branch, up to NIS 10,000 on site or app.
The loans are intended for small self-employed people who have flow difficulties. The interest rate on the loan will be prime + 1.5% (similar to the interest rate set by the state on state guarantee loans). The loan period will be up to 60 months with a grace period of up to 6 months.
The loan approval will be done digitally and any loan that is approved will be credited to the customer's account on the same day.
The Bank will also allow its customers whose income has been damaged due to the crisis and are interested in rejecting three payments for any existing loan, responding quickly and without having to reach the branch through the "Workers on the Phone" hotline, the Bank's website and soon the application. The deferral of payments is designed to meet customer needs for relief from their cash flow, and is done while maintaining the original interest rate on the loan and the monthly repayment.
In addition, the Bank has entered into a State Loan Business Loan Agreement together with the entire banking system, in accordance with the terms set out on the Fund's website. The loan is intended to provide credit for financing business gaps caused by the effects of the Corona virus.
These steps are in line with previous steps announced by the bank to private clients, including deferral of mortgage payments up to three months (principal + interest) while maintaining the original interest rate of the loan, a loan of NIS 30,000 for a period of up to 60 months with
Grace of up to 6 months, deposits that are not linked to the one-year and three-year index, with a known interest rate, and steps for business clients - which include a loan to finance the corona's effects up to NIS 400,000, up to 24 months with a grace option of up to 6 months (at prime plus 1.5% to prime plus 4%), and deferred loan payments of up to three months to corporations affected by the Corona subject to compliance with prerequisites.
The Bank continues to provide special services to its customers belonging to at-risk populations and has recently launched a dedicated human service line for customers over the age of 70 as well as a series of trainings for performing digital operations for the older population. In addition, the Bank has two mobile branches that serve the elderly population in nursing homes across the country.