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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