The Baby Waiting Loan is about to start, which means a loan of HUF 10 million, currently at an annual interest rate of 8%. This would not make anyone feverish, but there are still parts of the loan.
If a child is born within five years, the loan will be free of interest (however, a half percent management fee will still remain). If one more child is born, then one third of the debt is released, if three in all, then the whole.
Three things are important: in this story, pre-existing children don’t matter, just the offer is for married people and you can borrow the same credit as any other loan.
As I have already written about it
Do not borrow because we will have a child anyway. Because if you do not, you will be in serious trouble, not only will you have a high interest rate on your loan, but you will also have to pay a substantial amount in one lump sum.
However, the opposite is true : if you already know that you will have a child, be sure to borrow it if you need it or not. Because at worst it will be interest-free. If you take that money and put it in premium government paper, you get 4.5% interest (now free of interest tax) and you pay the state 0.5% interest.
The difference between the two is 4.67 million forints in 20 years, tax-free. (If inflation rises, the difference will be even greater, since premium government securities are linked to inflation.)
And you don’t have to do much. And if there is any problem, you can withdraw your loan from government securities at any time. (If World War III broke out, a meteor shower in Budapest, or a bankruptcy threatened, then you would override it. At the moment, you see little risk in the deal.)
If you have any existing credit, repay it with this almost free loan
What’s good for you is bad for taxpayers who give this nearly $ 5 million, but that’s just the case with all state aid. If you do not use it, then your neighbor’s credit will be used to pay for your tax, who has used it.
However, borrowing can have its pitfalls. Such is your existing credit. Even if you wanted to use this loan to repay an existing loan, for example, most banks would refuse to match 40% to 50% of your income with old loans. It does not matter what counts as income and which bank multiplies, for example, Bt-d’s income or dividend.
As things currently stand, our credit bureau Gábor will also be providing the credit, so I asked him to write a brief summary of the issue, as he is already out of some banking brain expansion.
There are also examples of how you can boost your creditworthiness by extending your home loan agreement and, for example, canceling or reducing your credit card.
If you have any questions about the case, please rape her by phone or email.
What You Can Know About Banking Criticism for Baby Waiting Loans
The credit assessment will not have a unique assessment framework that is specific to baby loans, but will be based on the banks’ existing internal rules. Lighter evaluation criteria than the existing one would risk a financial institution seeking to enforce a state guarantee in the event of a credit agreement terminated due to non-payment, then the Treasury may refuse payment on the basis of inadequate lending. On the contrary, I think that in some respects, some banks will be stricter in criticizing this type of loan than in other credit products, I think.
Banks’ general internal rules approach creditworthiness differently than would be dictated by “common sense”. There may also be those remaining on the sieve who have a demonstrable income and are apparently able to repay the loan, and who are considered by the legislature to be worthy of support.