Israelis pay twice what Europeans pay on their overdrafts, Knesset finds

21.03.2012                      27.Adar. 5772

Banken:

Israelis pay twice what Europeans pay on their overdrafts, Knesset finds

Israel's banking system is uncompetitive and inefficient by international standards; interest spreads are high; and it favors big business at the expense of households and small businesses, researchers write.

Israelis pay more than twice as much on their overdraft as West Europeans do, the Knesset found.
Israeli banks charge an average interest rate of 8.26% on overdrafts. In Western Europe, the comparable figure is 3.59%, said Ilanit Bar and Ami Tzadik of the Knesset Research and Information Center….