Numerous grants have been made available to families in recent times.
The government aims to increase the population with these benefits. The $ 10 million interest-free baby loan is available from July 1, 2019. The great advantage of credit is that it is freely usable. However, it is a good idea to pay attention, because you can easily lose your baby’s credit if you are not paying attention to the details. The primary purpose of a baby loan is to encourage young people to have children. To this end, there are rules that punish if the desired goal is not met. In this article, we have collected only the most important of these.
You Can Easily Beat Your Baby Loan – The Most Important Reasons For This:
- If the child is born prematurely, the couple will lose support. Only babies born after July 1, 2019 or at least 12 weeks of age may be taken into account for a baby loan. At the birth of the first child, the repayment of the interest-free loan is suspended for 3 years, the second child is suspended for another 3 years and 30% of the outstanding debt is released. If the third child is born, the entire remaining debt is released.
- If there is no child born within 5 years, then the interest subsidy used up to that time will be repaid in one lump sum and the loan will become market interest for the remaining time. Nor does it exempt a child from having a legitimate health problem. If childbirth is medically contraindicated, a request for equity may be made. In the event of a positive settlement, such relief may be granted to such couples that the interest subsidy may be repaid in 24 monthly installments rather than in a lump sum.
- One of the prerequisites for applying for a baby loan is that the wife is 18 years old or 41 years old at the time of applying.
- If the couple divorces during the term, the interest rate subsidy will be repaid in one lump sum and the loan will be repaid at market rates.
- If any member of the couple is on the negative KHR list, they will not receive the baby loan.
- If at any time during the term of the baby loan, no member of the couple has a Hungarian address, the interest subsidy shall be terminated and the amount used up to that date shall be repaid in one lump sum.
- If a member of the couple dies within 5 years of disbursement, the loan will be converted to market interest only after 6 months. The interest reduction previously applied shall not be retroactively refunded. If the widow remarries within the 5 year period, the grace period will begin again.