The Fixed 3 Percent Rate Will Be Abolished with Immediate Effect, and the Interest Rate on the Most Popular Loans Will Be Almost Doubled
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How can this change the repayment installment?
The fixed annual interest rate of 3 percent will no longer apply to Széchenyi Card Overdraft MAX+, Széchenyi Tourism Card MAX+, and Széchenyi Liquidity Loan MAX+ contracts concluded from July 15.
The price of the liquidity loans of the Széchenyi Card Program will be adjusted to the three-month interbank interest rate instead of the previous fixed 3 percent, the Ministry of Economy and Energy announced. This means that the interest rates of several loans will almost double for small and medium-sized enterprises, BiztoDöntés.hu points out.
Some Széchenyi loans will be available with a variable interest rate aligned with the 3-month BUBOR instead of the current fixed 3 percent interest rate. The reference index is currently 5.89 percent. According to the ministry, the change is justified by the fact that many companies abused the extremely cheap loan, did not use it, but instead invested it in higher-interest government securities.
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