Hungarian student loan rates temporarily lowered

MNB

Hungarian state-owned student loan lender Diákhitel Központ is lowering the interest rate on its loans by 0.15% for the period of July 1 - December 30, Hungarian news agency MTI’s reported yesterday.

After the decrease, the interest rate on general purpose student loans will drop to 3.75% for half a year. 

The rate on special-purpose loans for educational costs will fall to 5%, however, thanks to the state subsidy on the loans, students will continue to pay 2% on the credit, MTI reported.

Following an easing cycle ending in May, the National Bank of Hungary lowered the base rate to 0.90%, and has kept it at this level. Analysts see no base rate cuts this year, but next year the base rate could be lowered further.

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