BRATISLAVA, June 8, (WEBNOVINY) — The amount of fees banks charge clients in home savings schemes is expected to come down. At their Wednesday session, members of the Slovak Cabinet gave their approval to an amended title for state bonuses based on the date of the contract signing. For instance, if the home saving contract is sealed in November, the state bonus will not be paid for the entire year but only as of the respective day. Taking on and repaying interim loans will be limited. The new rules are supposed to take effect as of 2012.
Clients have to deposit 663.9 euros in a given year if they want to get the maximum state bonus. Home savings banks have pointed out that the only way to obtain the state bonus title will be depositing the whole sum at once at the year’s beginning. Some people may not be able to afford such expenses, and will, therefore, earn lower interest. Home savings sellers are concerned that the changes will trigger an outflow of clients.
The Cabinet also greenlighted further changes within the revision of the Law on Banks, expected to make housing loans more transparent and cheaper. Clients will have the option to repay a mortgage prematurely without additional fees at the time when the fixation period or mortgage rate change. Banks will have to provide more information when the contract is inked or at later interest rate alteration. If the bank wants to increase the rate at the end of the fixed period, it will be obliged to notify the client two months in advance. The client shall be informed of the components of the interest rate: base rate and gross margin, which will be guaranteed for the following interest rate adjustment period. The new rules will apply to loans guaranteed by real estate, as well.
SITA
