On March 18, Prime Minister Viktor Orbán announced his economic protection action plan to first curb economic problems caused by the coronary epidemic. This action plan includes, amongst other things, a moratorium on loan repayments and, among other things, the fixing of the APR for consumer loans at an additional 5% of the central bank base rate. currently represents a 5.9 percent highest APR. Since the advent of the new government decree governing this, many have been fascinated by the newly opened opportunity, not surprisingly, banks' bids differ only by a few hundred forints in our installments and by thousands in terms of total repayments. It has to be said that this is partly due to the fact that banks' margins have been significantly reduced by the regulation, while their risks have increased in view of the uncertainty caused by the corona virus. Thus, it is likely that they will be more closely scrutinized to whom they are lending.
Therefore, in the current situation, it is not surprising that risk aversion and predictability are becoming increasingly important in personal loans. THE This is why the money center has been watching in the first round, 5.9 percent APRs for new consumer loans, and found that risk aversion, as a principle, echoes not only interest rates, but also amounts, maturities and expected income.
The page calculated how much installments and repayments a financial institution can expect $ 1.8 million we would take out a personal loan for free use 5 years.
The exact calculation is a Money center side you can watch.