Published: November 23 2023
Hungarian couples in Budapest have the opportunity to receive financial support from banks through the Babaváró loan program. This program offers eligible couples a certain amount of money as a credit to their bank accounts, depending on the bank they choose to work with. In this article, we will explore the different banks participating in the program and the corresponding amounts they offer as credit incentives.
Participating Banks and Credit Incentives
- Gránit Bank: Couples can receive a credit incentive of up to 200,000 Ft for their Babaváró loan from Gránit Bank. An additional 100,000 Ft credit can be obtained if both partners open a new bank account with the institution.
- CIB Bank: CIB Bank offers a credit incentive of 200,000 Ft to couples who apply for the Babaváró loan before December 3, 2023, and complete the disbursement process by January 15, 2024.
- K&H Bank: Couples can receive a credit incentive of 160,000 Ft from K&H Bank if their loan amount is at least 10 million Ft. The incentive is credited to the bank account specified in the loan agreement in the month following the successful disbursement.
- UniCredit Bank: UniCredit Bank provides a credit incentive of 150,000 Ft to borrowers with the Babaváró loan, subject to the loan being accepted by January 31, 2024, and disbursement completed by February 29, 2024.
- MBH Bank: Couples applying for the Babaváró loan before December 31, 2023, can receive a credit incentive of 150,000 Ft from MBH Bank, provided that the loan amount is at least 9 million Ft. Additionally, if the couple applies for a mortgage loan within 180 days of or following the disbursement of the Babaváró loan, they can also receive reimbursement for the notary fee, up to a maximum of 50,000 Ft.
- Erste Bank: Erste Bank offers a one-time credit incentive of 150,000 Ft for the Babaváró loan. An additional 30,000 Ft credit can be obtained if the couple opens a new bank account. If both partners open new accounts, the total credit incentive can reach up to 210,000 Ft.
- MagNet Bank: MagNet Bank provides a one-time credit incentive of 120,000 Ft to borrowers who have a payment account with the bank and have their loan agreement marked as a repayment account. The incentive is credited to the account within 30 days of disbursement, provided that the loan application is accepted by December 31, and disbursement is completed by February 28, 2024. The loan amount must be at least 8 million Ft, and both the borrower and co-borrower must have payment accounts with MagNet Bank.
- Raiffeisen Bank: Couples can receive a credit incentive of 140,000 Ft for Babaváró loans disbursement within 30 days of the loan agreement issued by February 29, 2024. If the couple opens one or two new bank accounts with the bank for a minimum of one year, additional credit incentives of 30,000 Ft or 60,000 Ft can be obtained, for a total potential credit incentive of up to 200,000 Ft.
- OTP Bank: Currently, OTP Bank does not offer any credit incentives for couples applying for the Babaváró loan.
The Babaváró loan program in Budapest provides couples with the opportunity to receive financial support from various banks. By understanding the credit incentives offered by different financial institutions, couples can make informed decisions and choose the best option that suits their needs.
Questions & Answers
Which banks in Hungary offer Babaváró loans in Budapest? All domestic banks except for OTP Bank offer Babaváró loans in Budapest. Some of these banks include Gránit Bank, CIB Bank, K&H Bank, UniCredit Bank, MBH Bank, Erste Bank, MagNet Bank, and Raiffeisen Bank.
How much can couples receive from banks for Babaváró loans in Budapest? The amount couples can receive from banks for Babaváró loans in Budapest depends on the bank they choose. It can range from 120,000 Ft to 300,000 Ft.
What are the requirements to receive the amount credited to their bank account? The requirements vary depending on the bank. Some banks require the loan to be applied for and disbursed by a certain date. Others require the couple to open a new bank account with them. It is best to check with each bank for their specific requirements.
Is there a deadline for applying for Babaváró loans in Budapest? Yes, there is a deadline for applying for Babaváró loans in Budapest. The specific deadline may vary depending on the bank, but as of now, the deadline is December 31, 2023.
What is the minimum loan amount required to be eligible for the credited amount? The minimum loan amount required to be eligible for the credited amount also varies depending on the bank. Some banks require a minimum loan amount of at least 10 million Ft, while others require at least 9 million Ft.
Is the credited amount given as a one-time payment or in installments? The credited amount is generally given as a one-time payment, but it is important to check with each bank to confirm their specific disbursement method.
Can couples open new bank accounts to receive additional credited amounts? Yes, some banks offer additional credited amounts if both individuals in the couple open new bank accounts with them. The amount can vary and it is advisable to check with the specific bank for more information.
Are there any additional benefits or incentives offered by the banks for Babaváró loans in Budapest? Some banks may offer additional benefits or incentives for Babaváró loans in Budapest. These can include reimbursing the cost of notarial fees for a mortgage loan or providing additional credited amounts for opening new bank accounts. It is best to inquire with each bank for their specific offers.
Does OTP Bank offer any credited amount for Babaváró loans in Budapest? No, currently OTP Bank does not offer any credited amount for Babaváró loans in Budapest.