Legal tax evasion: the number of TBSZ accounts sets another record

The number of long-term investment accounts held by banks and investment service providers has once again set a record: at the end of 2025, it approached 519,000, which exceeded the amount a year earlier by more than a third. The current market value of the assets managed in the accounts has meanwhile increased by 27.8 percent, according to data from the Hungarian National Bank, so it is only slightly below 7,900 billion forints.

The intense interest in Long-Term Investment Accounts (TBSZ) that has been visible in recent years was triggered by the fact that the government introduced a 13 percent social contribution tax (szocho) on most savings and investments from July 1, 2023, in addition to the already existing 15 percent personal income tax (better known as interest tax).

However, government securities were excluded from the scope of the new tax type, thus encouraging the population to invest their money in government debt securities in a greater proportion. However, the move also led to a surge in interest in TBSZ, since the return achieved here is considered a long-term investment, so this structure was not affected by the change either.

However, following the introduction of the socho, many people began to see the opportunity for tax optimization in TBSZ, so the government decided to modify the regulation again, starting in January 2025. According to this, if the TBSZ account is opened within three years, 15 percent personal income tax and 13 percent social security tax will be charged on the income achieved, so there is no difference compared to the taxation of income achieved on a normal securities account. In the time frame between 3 and 5 years, the small investor must pay 10 percent personal income tax and 8 percent social security tax if he is forced to open his account for some reason, and full tax exemption only applies after the five-year period has elapsed.

In addition to TBSZs, the number of pension savings accounts (NYESZ) has also been growing steadily in recent times: at the end of December, financial service providers already had nearly 103,000 NYESZ accounts, roughly 7 percent more than a year earlier. Meanwhile, the value of investments held in NYESZ accounts increased by 10.9 percent to 637.9 billion forints by the end of last year, so that an average of 6.19 million forints was invested per account.

According to data collected by BiztosDöntés.hu, financial service providers offer long-term investment accounts with very favorable conditions, in many cases account management and account opening are free of charge – while the latter can be done online in several places. At OTP Bank, the account management fee for securities accounts opened in the internet and mobile bank – including the securities TBSZ – will be waived for the entire portfolio in a campaign running until the end of 2026.

At Gránit Bank, you can also open a TBSZ via the eBank app, and opening and maintaining the account are now both free of charge.

At MagNet Bank, you can access a deposit-based TBSZ – with a bank branch deposit – under the name Tax-Suppressing Long-Term Savings Account. The annual interest rate on the deposit is the central bank base rate minus four percent – ​​this currently means an annual interest rate of 2.50 percent. The deposit period can be 3 or 5 years, and the minimum deposit amount is 50 thousand forints.

Lightyear launched TBSZ account management in Hungary in December 2023: at the fintech service provider