As of July 1, 2019, the $ 10 million Baby Waiting Loan is available. Baby Waiting Grant is a free-of-interest loan for young married couples, of which the state will release all outstanding debt in the event of three children being born.
- 10 million HUF interest-free loan,
- free to use, to spend on anything,
- the baby loan is interest-free if a child is born within five years.
There is a lot of interest in the design even before it starts
According to banks, there is considerable interest in the Baby Loan, which can be applied for from July 1, where young couples can receive up to $ 10 million in free-of-interest, interest-subsidized loans if they meet legal requirements.
One of our top partners is welcoming spouses looking for a baby loan as early as June 17, the actual departure date. This step is intended to ensure that those applying for the loan are immediately and immediately available at the same time as the legislation enters into force. They expect up to thousands of inquiries in the first few months. Therefore, they are almost certain that the consumer credit market could grow significantly by up to 15% this year.
Another credit institution is planning to introduce a baby loan by summer
based on current legislation! Further legal provisions are awaited to establish the final terms of application for the scheme. This bank also expects a lot of interest in the Baby Waiting Support. In their opinion, however, there will also be strong demand for rural CSOK and related soft loans. According to the credit institution, the Baby Loan will represent one fifth of retail lending.
One of our large credit institutions, also a partner, is making baby waiting support available on July 1st, not just for their own clients, but for anyone who can apply for a baby loan under the terms and conditions set out in the decree. There is an increased interest in the new subsidized loan, which in their opinion is currently not available in the market. Ideal for those who are considering starting a family or expanding their family in the near future. In their opinion, the new loan is expected to have a crowding out effect, especially in the case of a mortgage loan, but it will not be significant.
Favorable terms and conditions of the loan that can be applied
In the case of the largest bank, due to the favorable terms and conditions of the loan that can be applied for from July 1, a significant number of applicants are expected. The credit institution intends to implement the product within the framework of the related legislation and expects positive feedback on the new credit product. Their experts believe that Baby Waiting Support can be an alternative to personal loans and a mortgage loan scheme, but can also be a complement to home loans.
If you would like to apply for a Baby Waiting Loan or are interested in home loan schemes, maybe you are interested in CSOK, please fill out our form and we will call you back.