Hungary EcoMin holds talks with banks - interest rate cap may remain
Márton Nagy shared an image on his social media platform showing him in discussions with bank representatives, with the caption 'Consultation about the interest rate cap'.
The government has previously extended the retail interest rate cap until 30 June. It will decide on the future of the cap in the near future!,
Nagy stated briefly.
The government introduced the retail interest rate cap in January 2022 to prevent drastic increases in interest burdens. This measure was later expanded and extended multiple times. According to ministry data, the cap has resulted in savings of HUF 300 billion for eligible borrowers from its introduction until the end of 2024.
The most recent decision to extend the cap was made in November 2024, resulting in an additional HUF 20 billion remaining in the pockets of mortgage borrowers.
The November extension affected 291,000 mortgage loan contracts, with a total principal amount exceeding HUF 1,220 billion — representing one-fifth of the total mortgage loan portfolio.
