After the end of state subsidies, many people visioned the end of the housing savings fund, because the high attractiveness of the home savings was precisely the high yield provided by the state.
However, it seems that home savings will be left without the 30 percent state subsidy on payments , as Good Finance Home Savings Bank is the second to enter the market with its new product after the Home Fund .
Following the changes in the law last October
State support is no longer available and instead, Good Finance is seeking an extra interest bonus for its customers. We looked at what it is worth knowing about a new product and how well it is worth investing in a home savings after the state subsidy has been dropped and how competitive the product is with market-based home loan schemes.
Home Savings: One of the most popular financial products
According to the information of Good Finance, approximately 400 thousand home saving contracts were concluded in Hungary in 2018, which is a good indication of the demand for apartment savings. For now, the question is how much LTPs will remain popular after the end of government support, but it is certain that home savings will continue to require savings as a result of rising house prices. Another motivation to save is that four-fifths of Hungarians believe they need their own home for an independent, happy life, and one of the best ways to do this is to invest your money in a savings that offers a good return.
Good Finance’s new home savings products
Good Finance Home Savings Bank introduced two new products. Depending on when and what kind of home you want to achieve, you can choose between a shorter savings period of 5 years and a longer savings period of 10 years.
The monthly payment for both schemes can be between $ 10,000 and $ 50,000, which is a change from our previous offers, as we were able to pay $ 20,000 per contract before the state subsidy was abolished. Higher deposits can save you more up to the end of your term – whoever you choose this way can count on a higher interest rate bonus, such as a $ 20,000 savings.