Open an account at Mercantile Bank

The cumulative conditions for joining one of the aforementioned groups and eligibility for benefits

• For new enrollees who open a current account at the Bank during the promotional period.
• Issuing a bank credit card and performing transactions in the amount determined by the conditions of joining one of the aforementioned groups.
• Regular salary transfers to the account in the amount determined by the conditions of joining one of the aforementioned groups.
  Pro Account - NIS 7,000 per individual or NIS 12,000 per joint account and credit card transactions of NIS 2,000 in the previous month.
  Top Account - NIS 12,000 per individual or NIS 18,000 per joint account and credit card transactions of NIS 3,000 in the previous month.
  Deluxe Account - NIS 20,000 per individual or NIS 25,000 per joint account and credit card transactions of NIS 3,000 in the previous month.
• Joining the group is conditional on transferring salaries* to the Bank, and if the customer stops transferring the salary, the Bank will have the option to remove the customer from the group in accordance with the terms in the enrollment forms.
• Joining the group is possible from the age of 19.
• Grant to the Account - A one-time grant of NIS 1200, to be paid over 24 months.
  A monthly grant of NIS 50 if the account meets the obligation to transfer a salary of NIS 7,000 per individual and perform credit card transactions of NIS 2,000.
  Eligibility for a grant of NIS 1200 in a deposit or interest-free loan may be exercised up to one month from the date of joining the group.
  Payment of the grant will be made within 21 business days from the end of each month in which the eligibility conditions, as detailed above, were met in the account.
  Eligibility for grants will be reviewed starting from the third month after opening the account; a month in which the eligibility conditions were not met, does not entitle the account to the monthly grant.
  Grant of NIS 1200 – You may choose this benefit no later than 30.06.25
• Deposit with preferential interest: Up to NIS 100,000 for 9 months at an interest rate of 5.75% (in the event of failure to meet the cumulative conditions - salary transfer of NIS 7,000 per individual and credit card transactions of NIS 2,000, interest rate will decrease by 3% retroactively from the commencement date of the deposit).
  Deposit on favorable terms - you may choose this benefit no later than 30.04.25.
• Interest-free Loan - Up to NIS 30,000, up to 30 installments (in the event of failure to meet the cumulative conditions - a salary transfer of NIS 7,000 per individual and performing credit card transactions for NIS 2,000, interest will be charged on the loan at a rate of 8%).
  Interest-free loan – you may choose this benefit no later than 30.06.25
• Loans on Favorable Terms beyond the Option of an Interest-free Loan - In the event of the customer’s failure to comply with the conditions of joining one of the aforementioned groups, and after sending a warning to the customer, the Bank will be entitled to increase the interest rate on the loan by 4.5%.

Additional clarifications:

• All terms and benefits regarding fees are in relation to the Bank's tariff.
• Benefits are valid for 3 years from the date of joining the group. At the end of the 3 years, the benefits will be canceled with due notice and the account will be charged according to the Bank's tariff.
• *Salary – means monthly income, consisting of a monthly salary and/ or a National Insurance benefit and/ or a Ministry of Defense benefit*, deposited into the customer's account via a MASAV (Clearing Bank Center) or in another manner approved in advance by the Bank.
  *Excluding one-time benefits or benefits granted for a fixed period.
• Activity on a bank-issued credit card – refers to the monthly billing amount on credit cards issued by Mercantile Bank [A debit card is not considered a bank-issued credit card].
• The granting of credit, the credit card and collateral, if required, are subject to the sole discretion of the Bank.
• Failure to meet the repayment of the loan may result in late payment interest and execution procedures.
• If your current account has a debit balance, you should contact your banker, prior to making the deposit, to inquire about interest rate differences (the interest paid on the deposit, compared to the interest charged on the debit balance of the account)
• The Bank may change the terms of the promotion at any time.
• The Prime interest rate as of 1.1.25 is 6%.
• Please note - you must make sure that your account is affiliated with a group that provides conditions or benefits that are preferable to you - you must contact the banker for clarification and adjustment