Balance on Baby Bond Accounts Around HUF 270 bln

Figures

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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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