Balance on Baby Bond Accounts Close to HUF 200 bln

Analysis

Savings on the more than 300,000 baby bond accounts are near HUF 200 billion, state secretary for families Ágnes Hornung said in a message posted on Facebook on Sunday, according to a report by state news wire MTI.

New parents who open a baby bond account for their child get a HUF 42,500 start-of-life subsidy and may buy more of the securities until the child turns 18. The bonds pay a 3% premium over inflation. Additionally, the government offers a 10% top-up for additional purchases, up to HUF 24,000 a year.

Other relatives of children may also open up the accounts.

Last year, around 34,500 baby bond accounts were opened.

ADVERTISEMENT

Romania's Industrial PPI up in December  Figures

Romania's Industrial PPI up in December 

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

New CEO at the Helm of Kifli.hu Appointments

New CEO at the Helm of Kifli.hu

120,000 Guest Nights Expected From World Athletics Champions... Tourism

120,000 Guest Nights Expected From World Athletics Champions...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.