The 10-year loans up to HUF 4 million, available to working, non-graduates between the ages of 17 and 25, will be available from the start of 2025.
The scheme could support career-starters with around HUF 500 bln, the ministry said. Borrowers must work at least 20 hours a week, under contract or as an entrepreneur.
They must also pledge to continue to work in Hungary for a period of at least five years. Women who take out the loans will get a two-year grace period after the birth of their first child.
Half of the loan’s principal will be forgiven after the birth of a second child and the full amount after the birth of a third.
The scheme is part of the government’s New Economic Policy Action Plan which seeks to boost Hungarians’ purchasing power, ensure affordable housing and scale up SMEs.
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