The most important point of a Baby Loan

As expected on 01.04.2019, the Parliament voted in favor of the Family Protection Action Plan. The jewels of the bundle of interesting laws are the Babysitting HUF 10 million. It is understandable that we can get up to HUF 10 million without collateral with a state guarantee and free use. But you need to know a lot more to make a responsible decision. Look out for this 5 + 1 point!

1: The basics


You may enter into such a contract between July 1, 2019 and December 31, 2021. The most important feature of which is that it is free to use and does not require real estate collateral.

2: Amount of the loan


It is extremely high, since almost everyone only mentions BaboWare as 10 million HUF. And true, we can get up to $ 10 million. But we don’t necessarily have to pay that much, we can even pay less. For a maximum of 20 years, with monthly repayments not exceeding $ 50,000.

3: Who can pick it up?

It can be claimed by a lady of a couple who has reached the age of 18 but has not yet reached the age of 41. One of the couple’s members has been eligible for TB for at least 3 years or is pursuing higher education. Or at least one of them must have this first marriage. However, credit institutions may classify applicants as creditworthy according to their general internal rules .

4: The loan can also be state aid

4: The loan can also be state aid

All you have to do is to have (or adopt) a third child after borrowing . In that case, the debt is extinguished. Even after the second child, 30% of our debt is released.

5: Credit details


The good news is that banks have 10 days from the date they apply for a loan to decide whether or not to grant the loan. In fact, financial institutions do not charge fees for handling, disbursing, or early repayment. The loan is interest free and the state assumes responsibility.

+1: When you still have to pay interest


If the first baby is not born within 5 years of the contract (including adoption), the contract will be terminated. The interest subsidy used to date (5%) should be repaid in one lump sum. The interest rate on our loan will increase to 8% based on the current yield environment.

These are some of the most important facts you need to know. Special attention to +1. To make sure you work, contact us! We keep you fully informed, with all the details carefully.

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