Now comes the black soup: the share of more loans is growing approximately

Although the government has extended the moratorium on loan repayments for another six months by the end of June for mortgage and baby loans, borrowers will now face a large increase in installments on various other types of loans.

The maximum cap set in March will expire on December 31, and installments of at least HUF 200 billion in personal loans and approximately HUF 20 billion in commodity loans may spike suddenly. Refund fees can go up to 30 percent – write daily.hu.

Until December 31, banks and financial corporations could offer new consumer loans with a maximum of the central bank base rate plus 5 percentage points, so now the rate for personal loans, commodity loans and credit cards Credit can go up to 5.75 percent. However, on December 31, the limit on the total borrowing rate (thm) of consumer loans has ended.

What will cause this? Increase amortization and interest rate.

“To what extent, it varies from one bank to another and from one loan to another. However, based on calculations by portals comparing different loans, the non-promotional THM can go up to around 20 percent for a HUF 2 million personal loan, and the repayment can increase from the current level of around HUF 32,800. (which is exactly the same for almost all banks) at HUF 46,000.

The lower the loan amount, the higher the interest rate increase.

For HUF 1 million personal loans, the customer can calculate a THM of up to around 25 percent from January, which can lead to a 45-50 percent increase in installments, but for HUF personal loans 5 million HUF there is also a bank that will increase the fees by 40 percent next year.

Customers who feel excessive increases in interest rates and fees may replace the previous one with a new type of personal loan from January, recalls the portal. “The so-called consumer friendly qualified personal loans (MfSZ) are being launched. The characteristics of HPO rated personal loans are that they can be obtained with a maximum maturity of 7 years; They can only be contracted at a fixed interest rate until the end of the term. The money must be disbursed within a maximum of 3 business days after acceptance, in the case of loans, the interest surcharge cannot exceed 15 percentage points up to a loan amount of HUF 500,000 and 10 percentage points above a loan amount of HUF 500,000 The disbursement fee cannot exceed 0.75 percent of the loan amount; the prepayment rate may not exceed 0.5 percent of the amount paid in advance, and even during a remaining period of less than 1 year, the prepayment will be free. “