What do we expect from a good investment?
On the one hand, it should be fixed if possible, and it is fixed.
On the other hand, it should have a high yield, and it has a high yield.

Thirdly, we also use our investments as a store of value, which outperforms inflation.

What makes investing in a savings account unique is that it has a fixed high yield, outperforms inflation and is even capital-guaranteed by the National Deposit Insurance Fund! 

And at the same time, you do not have to pay significant maintenance costs and taxes (interest tax, socho).

Finally, in case of any unpleasant situation, we can access our invested capital during the term, and after 4 years we will receive an interest bonus of 15% at Erste Bank and 10% at OTP.

Experts say that a savings account is a better investment than a government bond.

Since you can open a free account with Erste Bank with 0 FT now, the best choice is the Erste 8-year plan, because if you still take it out in 8 years but after 4 years, you will still get the 15% interest bonus, but if you carry it out, you will also get the 30%.

In our follow-up letters, we discuss in more detail how to open a special account and compare the 3 market players.

We save you a lot of time and money to get you the best deal for you!
The Housing Savings Bank Act was adopted in 1996. So many of you may be familiar with it. Back then, the state subsidized savings, starting with 40% and then 30%. In 2018, the government stopped the government subsidy. But the demand remained.
From 2023 onwards, home savings pension will be available again in the offer of 3 market players (OTP, Fundamenta, Erste).
What are the basic differences between the former state-subsidised schemes and the currently available interest rate subsidised schemes? 

• the regular monthly savings in one account can be as low as HUF 50,000, but a client can open more than one account, so there is no real limit

• not linked to a tax number, as the interest bonus is paid by the financial institution, not the state

• no need to submit invoices, receipts, no inspection when paying out, so it is much easier and more convenient to use! Ask your personal adviser about the extended scope of use and how to use it!

And now let's look in detail at what each market player is offering:

The table above clearly shows the following: 

• Fundamenta may seem advantageous with its low interest rate on home loans, but if you take out a loan, you won't get an interest bonus

• We believe that the Fundamenta offer is not an ideal choice for anyone in the current market environment

• Only Erste bank has a special account opening option (0%)

• The best offer for the customer in terms of interest rates on the investment (EBM) is given by Erste Bank

• For a 4-year contract, Erste Bank gives the highest interest bonus, 15%

• In addition to the fact that the interest rates on Erste and OTP loans are the same, you can take out a larger loan with Erste

• The 30% interest bonus is only available at OTP and Erste banks after the maximum 8-year term

• No interest bonus on termination within 4 years in any company
  
  

To sum up: for savings of less than HUF 20,000, OTP is the most advantageous for the client, and for savings of more than HUF 20,000, ERSTE Bank is the most advantageous.

Now it's really advantageous to open an ERSTE Home Savings Account at no cost! Details in an upcoming letter.

SPECIAL OFFER! 

Now even with free account opening!

Save now up to HUF 147.500,- per account!

With Erste LTP, you can now open any number of accounts without an account opening fee.
Conditions: all the basic conditions and at least one additional condition must be met.

Basic conditions:

• loyalty period - expires

• regular payment - the customer is not 3 months in arrears

• positive DM - accepts all marketing enquiries
  
  

Additional conditions:

• quantity discount: 50.000,- Ft / month, or

• opening a new household current account or

• an existing or starting home mortgage or baby loan
  
  

Don't miss out while the opportunity is still alive!

One of the most important and costly decisions we make in our lives is how we live. It requires careful planning, construction and maintenance. In most cases, the size of the outlay may require borrowing. In addition to finding the land on which to build the home, we also have to furnish it.
We also have to maintain our existing flats and houses. With energy prices and sustainability out of control, it is worth upgrading and optimising insulation and heating technology.
The opportunities for LTP use are primarily related to housing. For example: 

• buying a plot of land, an apartment, a house or a farm
  
  
• construction, renovation and extension of apartments, family houses, farmhouses
  
  
• housing renovation, modernisation
  
  
• home loan redemption, early repayment, final repayment
  
  

Other uses that are not yet widespread in Hungary:

• home leasing (the down payment can be paid from LTP)
  
  
• renting or occupying a flat (suitable for paying the initial capital needed to move into a nursing home)
  
  

Would you use it for something else entirely? Your personal adviser can tell you more about the other options.

There is no need to submit invoices, receipts or inspection when paying out. A simple declaration that the money will be used for housing purposes is all that is required, but neither the Hungarian State nor the financial institution will check the use of the money. In addition, you must be listed as the owner in some proportion in the Property Register. There are 8 years to prepare for this.

Free of interest tax and Socho 

According to the Law on Housing Savings Accounts, no social contribution tax is payable on the subsidy paid into a housing savings account and on the interest paid (credited) to a housing savings deposit

Life situations are changing incredibly fast these days, as you've probably experienced. A financial product is there one moment and gone the next. However, our housing-related expenses are constantly changing. We recommend you make a decision as soon as possible!

On the one hand, there is now a free account opening promotion, until revoked, at Erste bank.

On the other hand, it is worth thinking ahead when it comes to housing, so that you do not have to take out an unfavourable, expensive loan.

Compare a home mortgage with the Erste LTP contract!

In our lives, we spend a lot of time working, making money. We pay a lot of taxes. That's why we want to keep our savings safe.

In the case of investments, as the yield increases, the security generally decreases. LTP is a savings scheme where you can grow your money safely with a high and fixed interest bonus.

What advantages do we have over other investments, besides the security of our savings?

• Bank security:
  We have reputable, well-known Hungarian financial institutions as clients (OTP, Erste, Fundamenta)

• OBA guarantee in case of bank failure:
  If a deposit cannot be paid out because the credit institution is unable to meet its financial obligations, depositors are compensated by the Deposit Guarantee Scheme. The maximum amount of compensation per credit institution is €100 000 per customer. www.oba.hu

• Unchanged conditions throughout the entire term: you can start your savings with fixed, known, unchanged parameters, so there are no surprises

Contracts are concluded on known terms. In other words: as a client, you have to pay the amount you have chosen to the fund each month.

When you take out a loan, the monthly repayments are also fixed, known in advance and cannot be changed unilaterally.

Favourable borrowing in a high inflation environment, high interest subsidy in a low inflation environment (up to 30% per year) 

• a contractor can take out a home savings contract (he pays the premiums)
  
  

 May be used by the contracting party or close relatives

• may specify the contracting beneficiary - in which case the beneficiary and his or her dependants
  
  
• (family members: parent, grandparent, great-grandparent, child, grandchild, great-grandchild, spouse and sibling)
  
  
• a stranger cannot be granted to a beneficiary
  
  

Can a company be a contractor or beneficiary? no

Can foreign currency be domestic only or foreign?

Do I have to pay the instalment as the contractor, or can I transfer the instalment payment obligation to the beneficiary in the meantime? yes

Dear Interested Party!

Here's a summary of what you can expect when you contact us.

When we receive your application, we'll contact you as soon as possible (or within the timeframe you specify). We'll explain your home savings options and answer any questions you may have.

If you think you are seriously interested in home savings and would like to open an account, we can meet you by phone, through an online communication platform (Messenger, Zoom, Viber, etc.) or in person if you prefer. In this case, it is advisable to organise your meeting so that you have someone with you who can help you make your decision.

If you understand everything and know the amount and number of accounts you want to open, we will fill in the necessary documents. If we meet in person, we'll do it together. If we don't meet in person, we will ask you for the information you need to open an account, fill in the necessary documents, send them to the address you have given us for signature by post and, once signed and returned, we will send them to the financial institution. We will then arrange when you can transfer the amount needed to start your savings account (in the case of multiple accounts, the amounts) to the account of the financial institution.

The savings will start when, in addition to the correctly filled in documents and submitted to the financial institution, the account opening fee (this may be free of charge with Erste), the account management fee (HUF 150-300 per month) and the first monthly fee have been paid.