The monthly investment scheme is practical if you want to save a portion of your salary. You can have as many of these accounts as you want. Once you've opened such an account, you cannot withdraw your money for at least 2 years. This too varies widely from bank to bank. Some banks give you a cash bonus if you keep the Savings Account for a minimum number of years.
Short term accounts.
A current account doesn't bring up any interest at all. If you want to avoid erosion of your money in a safe way, without blocking it for 2 years you can block it for shorter periods. The interest on these accounts are not linked to the CPI, but give a fixed rate until the end of the term. 1.92 NIS more thank at the beginning of the week. If you don't mention anything specifically, the bank will automatically reinvest the money for a another term at the end.