Renewal of the Új Magyarország Development Loan

According to the Ministry of Agriculture for the end of June, the commercial banks will also make available the new and even more favorable version of Új Magyarország Development Loan.

The essence of the change is, that from now the interest rate will be accounted over the 6 percent of Euribor which will be an approximately 7.5 percent interest rate on the claimed investment and development aid. The duration of  the loan is 15 years with a 2 year grace period, with a claim between 1 million and 1 billion HUF. Besides the 50 percent guarantee, more guarantee can be invoked from Farmers Loan Guarantee Fund – reports Népszabadság Online.