Balance on Baby Bond Accounts Around HUF 270 bln
Savings on more than 340,000 baby bond accounts now reach around HUF 270 billion, state secretary for families Ágnes Hornung said on Friday, according to a report by state news wire MTI.
So far this year, around 37,300 baby bond accounts have been opened, Hornung said.
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 10pc top-up for additional purchases, up to a threshold.
Other relatives of children may also open up the accounts.
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