The expectantly awaiting state personal loan has arrived and the terms of the KSC Bank have expanded. Everyone is in a fever because they can get many for their own homes. Take a look at the video if you are interested in the operation of the thing, while in the article I will lead you to a specific calculation example.
What is a 10M fortune for 20 years?
The best thing about families that could have happened is the baby waiting, as many people get the chance to have a better life. Let’s see what this amount means for family property.
The example family currently has 1 child, 1 child with mothers and 1 child.
How much and when to repay?
We have learned from the special conditions of the baby waitress that we can count on the pregnancy of 12 weeks. This means that the family in which the mother has already been pregnant for 12 weeks may suspend the repayment obligation for 3 years in the first minute of the baby’s request.
So the family gets the 10M fortune that they don’t have to repay for 3 years. It is then planned to receive 41,666 forints + state guarantee fee until the third child is born, who is the second child from the point of view of the baby waitress (since only children born after 2019.07 are counted in the number of children).
Not to be repaid for 6 years?
According to our current knowledge, if the family in the example waits for another baby during a 3-year suspension, it will be extended to 6 years. Thus, in a perfectly designed and executed life, the example family may begin to pay off after 6 years of taking the baby waitress (now reduced by 30% of the capital due to the second child, ie HUF 7M).
The expected repayment installment is HUF 29,166 + the cost of the state guarantee for the next 20 years (the repayment pause does not reduce the maturity).
The other solution is to reduce the term and to repay the same amount of HUF 41,666. That’s how we can get credit for 168 months, equivalent to 14 years.
How much do we gain from inflation?
Think about how much you need to work today for $ 40,000, what you can spend. And remember how much money 10 years ago it was worth. This is called the deterioration of money. That is, the more you pay for the interest-free loan, the more you win because of the deterioration of money.
Calculated with 3% annual inflation, the current value of HUF 41,666 to be paid after 6 years would be HUF 34,894. So this year you won 81,264 “theoretical” forints. Let’s look at the chart:
The table contains a theoretical figure of how 3% inflation would be at every moment (it would not be), how much can we “win” by paying that money today, but at a given moment. The face value of the money (the specific amount) is not constant, but the value of money is decreasing as a result of the financial loss.
Free credit administration and babysitter
I will help you with credit management. In the framework of your featured and free service, I also offer you several credit offers from several banks at the same time, which are valid for up to 6 months. You don’t have to fight at the branch! I’ll do everything for you with credit and give you an immediate solution to any problems that may arise in the meantime. Comfortable, fast, reliable.
You are guaranteed (much more comfortable) the same credit with us under the same conditions as you would go into the bank branch. Indeed! In many cases, I can provide you with unique discounts (free prepayment, free transfer… etc) that you will not get at the branch.