Not only are interest rates falling, but terms are also lengthening for personal loans

By: Trademagazin Date: 2026. 02. 13. 09:42

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Recently, another major bank extended the maximum term of its personal loan to ten years, thus increasing the customers’ room for maneuver – points out the financial journalist of BiztosDöntés.hu. As a result, we can expect that more service providers will extend the maximum term in the near future – and of course, the intense interest rate competition for personal loans will continue.

After almost every bank active in the classic personal loan market raised the upper limit for its own schemes to 15 million forints, a new, freely usable product with a maximum term of 10 years has also appeared on the market – points out Mihály Barát, financial journalist at BiztosDöntés.hu. K&H – he adds – raised the possible term to 120 months at the end of January for personal loans exceeding 1 million forints.

OTP Bank also offers a ten-year, freely usable personal loan: with the financial institution’s OTP Otthon Personal Loan – where in addition to a monthly income of at least 400 thousand forints, an important condition is that the applicant has an ownership interest in a Hungarian property – the maximum loan amount is 15 million forints, and the annual interest rate can be as high as 9.99 percent.

It is expected that other banks will follow suit

However, the 10-year term – as the financial journalist of BiztosDöntés.hu points out – is present in the offer of even more service providers than in the schemes offered for specific purposes: for example, the upper limit for the personal loan of MagNet Bank that can be used for green credit purposes is also 10 years. The loan amount here can be 12 million forints, compared to the 10 million maximum applied to the standard version. The interest rate on MagNet Bank’s green personal loan can be as high as 10.45 percent per year, if the client can take full advantage of the discounts offered.

The term for the personal loan for renovation purposes from UniCredit Bank can be at least 60 months and a maximum of 120 months, and the annual interest rate can be as high as 10.59 percent.

“Since the longer term significantly expands the debtors’ room for maneuver due to the reduction of the monthly repayment burden, it can be expected that several players will push the currently typical 7-8-year maximum higher”

– argues the financial expert of BiztosDöntés.hu.

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According to the data of the BiztosDöntés.hu personal loan calculator, several banks have modified the conditions of certain personal loan structures in recent weeks, so the most favorable interest rates available on the market are getting closer and closer to 9 percent.

UniCredit Bank has reduced the interest rate on its Fixed Interest personal loan in two interest discount bands as of January 31, 2026. For the Premium Active Extra interest discount – where a monthly credit of at least 450 thousand forints is expected – the annual interest rate has decreased from 9.64 to 9.40 percent in the amount range between 7 million and 15 million forints. For the Premium Active Extra Plus interest rate discount – where, in addition to an income of at least 450 thousand forints, the conclusion of credit coverage insurance is also a condition – the annual interest rate in the amount range between 7 million and 15 million forints decreased from 9.44 to 9.20 percent: the latter is currently the lowest on the market.

As of January 30, K&H – in addition to the aforementioned modification regarding the terms – eliminated the “transfer discount” option, which was necessary to achieve the most favorable conditions.