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Competition Driving Down Interest Rates on Home Loans

Banking

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The competition between banks for good customers is increasing, and to this end, loan interest rates at financial institutions have also started to decrease, according to the latest analysis from Bankmonitor, writes business daily Világgazdaság.

A significant indicator has been interest rates below 7% for home loans, which customers have not encountered since October last year.

There is also a bank that, with individual pricing, offers a home loan at an interest rate of 6.69%, while the average bank offer is 8.34%.

By taking advantage of the unique offer, with a HUF 25 million, 20-year home loan with a fixed interest rate for 10 years, the monthly installment could be HUF 25,000 more favorable, resulting in HUF 6 million savings over 20 years.

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