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Interest on student loans to drop by yearʼs end

MNB

State-owned student loan provider Diákhitel Központ has announced it will be lowering interest rates on its loans in the second half of the year, according to Hungarian news agency MTI.

In the period from July 1 to December 31, the interest rate on general-purpose student loans will be dropped from the current 3.35% to 2.3% temporarily. Additionally, the rate on special-purpose loans for educational costs will fall from 3.90% to 3.45%. 

Due to the state subsidy on the loans, students will continue to pay 2% interest on the credit, according to MTI.

The National Bank of Hungaryʼs base rate is currently 0.90%, after rate setters once again decided to keep it on hold on Tuesday at their regular rate-setting meeting.

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