Since its launch, approximately 13,000 calculations have been made on Good Finance by those interested in the baby loan. Based on the calculations, we have prepared a detailed summary showing how many young couples are counting on their application, what their average monthly net income is, how much they want to apply for and how long they want to apply.
How are claims made?
In the first two weeks of July, the banks received 2,400 applications. Credit reviews are currently underway and there are others who are still awaiting TB certification.
However, the first major seizure seems to be over, as it was important to apply this month for couples who are about to have a baby.
It is worth waiting for your application to become pregnant
The Good Finance Baby Expectant Loan Calculator makes it easy to calculate that those who are claiming during pregnancy are the best recipients of baby aid. On the one hand, they can immediately request a pause in repayment, and on the other hand, if they have another child, they can save up to several hundred thousand forints. We’ll show you how!
Suppose the couple are now applying for a baby loan, but only 5 years later, they will have their first child born in July 2024 – so they can still qualify for interest-free. Until the suspension, the loan is repaid free of interest and their debt is continuously reduced, leaving them with a debt of HUF 7,749,982. During the break, their second child is also born, so the state cancels 30 percent of the debt, or HUF 2,324,995. The total repayment (including the guarantee fee) will be reduced to HUF 8 062 737.
Let’s look at another example, but now that the couple is filing when they are expecting a baby. In this case, you will not be paid for the first three years, as the payment will be interrupted. Suppose the second baby arrives during the pause. In this case, the state will release 30 percent of the total capital debt of HUF 10 million, which is HUF 3 million. The total repayment amount will be HUF 7,314,549. We can see that you can get up to $ 200 more in state aid if you apply for a loan in due course.
Most plan to have only one child when applying
One of the results of the Good Finance calculations is that 74 percent of those interested entered the expected date of childbirth for one child while leaving the other two fields free. 18 percent completed the calculation with two children and 8 percent with three children.
The picture is overshadowed by the fact that we cannot know for sure what the couple’s first child will be after the application this is ignored by the calculator, as only babies born after July 1, 2019 count on baby loans.