IDF reservists who meet the eligibility conditions will be able to apply for a loan for any purpose up to NIS 40,000, at a fixed and subsidized annual interest rate of 2%.
Modi’in Maccabim Reut Municipality informs IDF reservists in the city of the possibility of receiving a loan on special terms as part of an assistance fund of the Jewish Agency, the Jewish Federations of North America and the Shusterman-Israel Foundation, in cooperation with Bank Leumi.
The fund, totalling NIS 400 million, allows IDF reservists to apply for a loan for any purpose up to NIS 40,000, at a fixed and non-linked annual interest rate of 2%, spread over 48 installments. The loan is intended for customers of all banks, subject to meeting the eligibility conditions and the bank’s approval.
According to the terms of the program, an application may be submitted by those who meet one of the following conditions:
- Have completed 200 days of reserve service as of 7.10.2023.
- Have completed 30 days of reserve service as of 1.9.2025.
- Were injured during active reserve service as of 7.10.2023, subject to presentation of the appropriate documentation.
Applications may be submitted until 31.12.2026. According to the information provided to the municipality, the allocation of funds is made on a "first come, first served" basis, and therefore those interested are advised to check their eligibility and submit an application as soon as possible.
The application is submitted and processed directly with the entities operating the program. The municipality assists in distributing information to the city's reserve servicemen and women.
Customers of other banks who receive approval for a loan will be required to open an account at Bank Leumi for the purpose of paying the loan. Loan approval and terms are subject to the bank's review and discretion.
For full details and to submit an application: Bank Leumi website: https://www.leumi.co.il/he/specialinterest
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