MNB-rated consumer-friendly loans are already featured in every major credit institution’s offer, but could you choose different periods, summing up what kind of home loan you can borrow from each bank?
- There are 1 types of variation offered by 3 major banks, so only those who are looking for exactly this interest period should apply here. (MKB, OTP, Raiffeisen).
The Vice President of the MNB criticized the lack of choice, and expressed his utmost regret at the opportunities available.
Availability of Qualified Consumer Friendly Home Loan by Bank
Each of the consumer-friendly home loans includes the following clauses:
- Annuity is an annuity, ie you have to pay the same amount of installment within the interest period
- The interest period is 3, 5, 10 years or the entire term.
- The interest rate premium shall not exceed 350 basis points relative to the reference rate used in the interest rate change indicator (Percentage indicates the full increase or decrease while the basis point represents one hundredth. The reference rate is the reference rate to which all other interest rates apply).
- The maximum disbursement fee is $ 150,000 or 0.75% of the loan amount.
- The prepayment fee may not exceed 1% of the prepaid amount. If you withdraw from LTP, it’s free.
- There is no fee for early repayment from a savings deposit.
- The credit assessment time should not exceed 15 business days
- The disbursement deadline is 2 business days if the conditions for disbursement are met and the client does not decide otherwise.
- If the above deadlines are not met, the creditor will be obliged to waive some of the payment of the disbursement fee.
The aim of the MNB is to achieve interest rate stability, in the current interest rate environment it is necessary to increase the inclination for fixed-rate loans, and in the case of disbursements it seeks primarily to provide customers with access to cheaper home loans.
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