Maybe it’s good to start with the basics: what is a home savings fund and why is it worth it?
Where the state pays our annual payment by 30%, but up to a maximum of 72 thousand HUF per year. It follows that the maximum amount that can be deposited is HUF 20 thousand per month, or HUF 240 thousand per year. The monthly minimum varies from one company to another, from 1,000 to 5,000 forints.
30% state aid cannot be used for anything
Because of its name, you can’t buy a nice red Ferrari from the amount you save with Good Finance, but it can only be used for the following purposes: buying a home, buying a building site, buying a retirement home, prepaying or extinguishing an existing home. In addition, the amount collected can be used for home leasing.
It is worth checking out that if we want to ‘refurbish’ our existing home, then what can be used for home savings is usually to spend on things that cannot be removed from the property. For example, it can be turned into an excavated pool, not a set up pool.
Good Finance offers are governed by the applicable law, so there are no significant differences between the offers. There are differences in the rates offered by financial institutions on deposit and loan rates and on the maturity .
How to choose the most optimal bid?
It is worth starting the calculation on how much money we can pay – that is how much we can give up – in one month. If we know how much we will need in the future, we can search for opportunities as well.
A person can only have one home savings fund contract at a time, but each family member can have a separate contract. Thus, with five people, the family can save up to 5 × 20 thousand HUF per month, and the total amount is covered by the state subsidy.
Increase the number of contracts to achieve the savings
This is interesting because it is worthwhile to increase the number of contracts to achieve the savings you want, rather than putting them in an apartment savings for a longer period of time, since this will give you the highest return on total capital.