This rate is considered a variable rate, because it’s revision period is inf years. Indeed, from one bank to the other, it can be revised every three or si can be indexed to the LIBOR – London Inter Bank Offered Rate – establishe for a considered currency and for a given payment date, from an index rate every day at 11AM (London business hours), and published by the British Banke ation (BBA), by a principle reflected by the average rate at which a sampl
banks in London lend “in blank” (which means without the loan being pledged by securities) to other maj
It may also be indexed to the lending bank’s bonds in the chosen currency. The rate applied to your l composed of the indexation, revised every 3 or 6 months, with an added bank commission, that will be ing all the length of the loan.
Your capital will be indexed to the currency that has been chosen and fixed to the day of disburseme funds and the will either be in shekels or in the currency of choice.
Lastly, this type of loan allows you to make anticipated payments, partial or total, without penalties at the condition of having referred to the loaning bank, ten days before repayment.