Can Start-Up Cost Be Avoided When Opening a Home Savings Bank? – Loans

The most popular form of savings among those who collect for home purposes is the home savings fund. Its popularity is due to the fact that the state gives 30% non-refundable gift money, which can not exceed 72 thousand HUF per year.

The maximum monthly payment is $ 50, but if you can save more than that, you have the option, even if you have an Good Finance contract with your close relatives.

After the maturity period

bank

Which can be 4-10 years, you have to wait 2 months for the amount to be paid out. Its use must always be justified. You can justify different housing goals in different ways, and they are subject to different rules regarding their use time. There are many places to read that starting an Good Finance contract from a very small amount, depends on several factors. In this article, you can read about the rules for opening a home savings.

What you need to pay when opening an apartment savings is the account opening fee, which is 1% of the contract amount. In addition to payments, the contractual amount includes state support, interest, and the amount of the home loan that can be taken out.

The higher the monthly payment or the longer the maturity

The higher the monthly payment or the longer the maturity

This means that the higher the monthly payment or the longer the maturity, the higher the account opening fee. Let’s look at an example! If you sign an Good Finance contract for 4 years, with a monthly payment of 20 thousand HUF, the contract fee is 26-32 thousand HUF, but for an 8-year product it is 75-80 thousand HUF. Experts say it would be better if you save for a shorter period of time. The best yield is for a 4 year contract. If you can, do two consecutive four-year contracts rather than an 8-year contract.

You need to be very careful and cautious when entering into an Good Finance contract, as home savings companies advertise different actions to attract customers. In the course of one of these promotions, they may waive some or all of the account opening fee. However, you have to pay close attention to what the home savings bank is asking for. For example, you might request another product.

This is how you can open a bank account

This is how you can open a bank account

Take out home insurance, enter a pension fund, or open a credit card along with your Good Finance contract. These products also cost money, so you might pay more for a promotion than if you had not signed the contract.

Alternatively, the homeowner may stipulate that he / she may not modify the main points of the contract because, if this were the case, the account opening fee released in the promotion would have to be paid back.

My partner has a credit card debt – Debt Consolidation

If you are married or a registered partner, you will in principle have one capital together. Your possessions automatically belong to the other person. But at the same time you are also responsible for each other’s debts.

This does not apply if you are married under so-called marriage conditions

bank

If one of the two makes debts with his credit card, the other is also liable for this. Even though the card may only have one name.

This does not apply if you are married under so-called marriage conditions . You have arranged in the town hall that your powers will remain separate.

There is also no joint capital if you are not officially registered partners and only live together. Whether or not with a cohabitation contract drawn up at the notary, that makes no difference.

Joint account

Joint account

You can nevertheless be confronted with a negative credit card balance from your partner unmarried or within a marriage under certain conditions. This can happen if the credit card is linked to a joint account of both of you.

With a joint account you are responsible for each other’s expenses. Both partners can use the account freely, without the need for constant permission from the other.

Use the joint account in terms of expenses only for the fixed housing costs

Use the joint account in terms of expenses only for the fixed housing costs

Both of you are liable for the bank for any overdraft. This can also be caused by the credit card use of one of the partners.  Your possessions automatically belong to the other person. But at the same time you are also responsible for each other’s debts.

An important tip: do not link a credit card to a joint account, but both take your own credit card and link it to an individual account. Use the joint account in terms of expenses only for the fixed housing costs, groceries and joint outings.

Credits: Difference between prepayment and prepayment

A few months ago you used Marissa Harlock’s personal loan comparator , chose the right option and applied for a loan. So far you have paid your bills on time and out of nowhere, you received an unexpected amount of money; After reading the 5 ways to use extra income , you decided to pay your debts.

When what we want is to cancel a loan early, we have two options: Advance payment and advance payment. Next, we will know how they differ.

 

Prepayment

You cancel a certain number of installments in advance, but this does not change your interests, that is, you continue paying the same amount of money in the following installments, with the difference that the number was reduced. In this modality no amount of money is reduced, what is reduced is the number of fees.

Example: You had an eight installment loan of 180 soles per month, you have paid two installments and one day you arrive at the bank with 540 soles, you pay three installments in advance. Now only three installments remain and you will pay them in the corresponding month to do so, that is, after three months. This modality is used to “give you relief” during the months you advanced, because you won’t have to pay anything.

 

Advance payment (prepaid)

Advance payment (prepaid)

What you do is reduce the amount of capital you owe and then choose a way in which this decrease is applied: It can be reducing the number of fees or maintaining the same number but with a smaller amount. In this mode, capital, interest and commissions are reduced.

Example: You had a ten installment loan of 150 soles per month. You paid two and one day you go to the bank and you pay 400 soles. That makes your debt reduce to 800 soles. You can keep the number of outstanding fees and that the fee value is less than 150 soles; Or you can keep the value of 150 soles but at a lower number of fees.

Another difference is that here you will not have more time to pay, but should approach the next date to cancel the next installment, either reduced or of the same value. Basically what it is about is to reduce the credit cancellation time.

Now that you know how to take advantage of these two modalities, you can apply for a personal loan without any doubts.