Mizrahi-Tefahot Bank Announces 1,000 NIS Grant for Children's Activities
Mizrahi-Tefahot Bank is offering a 1,000 NIS one-time grant to 10,000 eligible parents for children's activities under the Bank of Israel framework.
Mizrahi-Tefahot Bank has announced a new financial relief package offering a one-time grant of 1,000 NIS to eligible parent customers to help cover children's extracurricular activities. The initiative aligns with the Bank of Israel's voluntary relief framework for the banking sector.
The grant is limited to the first 10,000 eligible accounts that apply, capping the total program cost at 10 million NIS. To qualify, applicants must hold a current account opened by September 30, deposit at least 4,000 NIS monthly from June through August from salaries, allowances, or other income, and use a bank credit card for a minimum of 1,500 NIS in each of those months.
According to a Geocartography survey commissioned by the bank, nearly 70% of Israeli parents enroll their children in at least one activity, and 91% report that these expenses heavily burden household budgets. Despite this, 83% are willing to cut back on leisure, dining, vacations, and apparel to maintain their children's activities.
This measure joins a series of relief efforts by Mizrahi-Tefahot, following previous programs such as dedicated deposits for children born after October 2023, mortgage accommodations, and grants for reservist students.
