The Great Household Savings Bank Summary Has Been Made, After Reading This Article, Also Read: The Household Savings Bank Summary.
Almost everyone has heard of the Home Savings Fund (LTP), where we get 30% government subsidy for our money (but not more than $ 20,000 a month) if we use it for housing at the end of the term. This can be a home purchase, a home loan (prepayment), or renovation of an existing home.
Anyone can expect this to be a gift from the state
As of March 1, 2011, LTP, the home savings fund, was even better. Now, 10 years is the longest term, and family members can use each other’s home savings funds without having to own the property. So far, the biggest suck has been the kid-friendly home savings fund. In order to use it, the child had to acquire ownership of the property, if only one or two percent. What many didn’t think about was that when a minor became the owner of a property, the guardianship immediately appeared and from then on, he would not allow him to sell the property, take out a loan, etc., to protect the minor.
Well, luckily it’s a thing of the past, now from grandchild to grandfather, plus the siblings, I can use anyone’s home savings without having to be the owner of the property I used to pay the home savings fund for. (Although the guardianship may still be involved in the use of children’s home savings, please inquire in advance.)
So apparently it’s worth the stupid thing
Then the question is: today you are borrowing a 10 million forints home purchase loan and you want to take advantage of the 30% state subsidy from the home savings fund, so you are applying for a loan with a 10 year home for 15 thousand forints.
How much do you gain over the term with this home-saving construction compared to a regular loan?
If you are sitting, or at least clinging safely, I’ll tell you the solution: $ 802,000 BUCKLES on the deal !!!!
How is it possible?
The answer is simple, but not many people think it through.
In the case of a home savings fund, the state does not replenish our money by 30% per year, but only supplements the annual payments. That is, if someone already has 2 million forints in the lathe savings fund, the state will only add up to 72 thousand forints per year, even if the payment has reached 240 thousand forints (30% of the 240 thousand forints).
The annual interest rate of the Housing Savings Fund is 0.5, 1, 1.5 or 3% (Fundamenta 1 and 3%, Otp Housing Savings 0.5, 1.5 and 3%).
(In brackets: how big of a deal is this? The Home Savings Fund gives me 1% or 3% interest on my money and puts it in government securities at 6-7%, or lends it at similar interest rates. and because the state distributes taxpayers’ money, I actually get my own tax, only the savings on the apartment are even paid off.)
So in the tenth year, if I have two million forints, I get 1% interest on my money from Home Savings and another 72,000 from the state, which is equivalent to 3.6% interest, which means I get a total of 4.6% interest that year. So, in return, I even have to use my home savings for home purposes.