Mizrahi-Tefahot Bank Offers July Mortgage Payment Relief to Families with Children

Mizrahi-Tefahot Bank, Israel's leading mortgage lender, has launched a unique initiative called "Summer Mortgage Break" to ease financial pressure on families during the costly summer months. The bank will automatically credit eligible mortgage customers with children under 18 a one-time refund of their July 2026 mortgage payment, up to 3,000 shekels. To qualify, customers must have a mortgage for a primary residence (not investment), valued up to 2.5 million shekels, with financing above 50% and a repayment-to-income ratio exceeding 25%, typically reflecting younger households with significant mortgage burdens.

This benefit is part of the consumer relief framework set by the Bank of Israel and will be applied automatically without requiring customers to register or contact the bank. The refund will be deposited directly into the customers' Mizrahi-Tefahot checking accounts in early August.

Moshe Lari, CEO of Mizrahi-Tefahot, emphasized the bank's commitment to anticipating customers' financial challenges and providing timely support. He noted that summer expenses weigh heavily on Israeli parents, and the bank aims to assist young families by easing their mortgage payments during this period. Lari described the initiative as an example of personalized banking that recognizes real needs and offers practical relief without customers having to ask.