As July 1st approaches, more and more people are busy working on how this particular Baby Loan works. Undoubtedly, this is the most popular element in the Family Protection Action Plan . Its conditions make it perfectly understandable. And this inspired us to look into this credit in some detail.

The basics

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Almost everyone knows that this is a loan of up to $ 10 million that is backed by a state guarantee and you do not have to pay interest on it. There are also other benefits (and conditions, of course). The first benefit is that it is completely free to use. There is a risk to this, but we trust that everyone will use this money wisely.

At the birth of the first child, we can suspend the repayment for 3 years, as in the case of the birth of the second child, plus 30% of our debt. And when the third baby arrives, all of our remaining debt is extinguished. Well, let’s think about that a little bit!

Why is this credit good?

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Compare Baby Loans with a Simple Mortgage Loan! As usual, we’re going to go to the credit.hu calculator and write that we want to raise $ 10 million for 20 years. The first offer we get is the Budapest Bank Forint-based Market-Based Home Loan. With a 6-month interest period, you have to pay back HUF 57,534. This means that on a monthly basis it is 15,868 HUF more expensive than the Baby Waiting Loan, which means that we get a total of 240 * 15,867 = 3,808,160 HUF. And this is the cheapest option. In this case we find the Good Lender Stable Interest Loan at HUF 66,537. Here the difference is already 25 thousand HUF a month, and almost 6 million HUF in total.

And we didn’t even count on the fact that we didn’t have to repay the full amount. Just think of the first child born within 2 years, then the second in the grace 3 years, and the third in the grace year.

This means that for the last two years, you have paid the most in a hefty $ 50 a month payment. But then nothing. You got 10 million and you gave back 1.2 million. That’s good enough, isn’t it? If you are interested in such ideas, please contact us! We help where we can.

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