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President Signs Law on Advantageous Credit for Young Married Couples
Thursday 26 November 2009 Zoom in | Print page
Bratislava, November 26 (TASR) - Advantageous credit for newly-wed couples is set to become a reality as of April 2010, with President Ivan Gasparovic signing the Payment Services Act on Thursday.
The Finance Ministry expects that, in combination with a contribution from commercial banks, this type of credit should lead to a 4.5-percentage-point reduction in the interest rate.
"The advantageous credit for young married couples will be supported by the state via a so-called state contribution, provided that commercial banks also reduce their interest rate on this credit ... by at least 1.5 percent," stated the Finance Ministry, adding that the state contribution will be defined annually in the state budget act. A contribution reaching 3 percent has been approved for next year.
The credit is designed for married couples aged below 35 whose joint gross salary doesn't exceed 2.6-times the average nominal salary. The amount of credit granted can only reach up to €10,000.
The 3-percent support approved for 2010 will cost the state budget €6.06 million, with the figure expected to grow in the future to reach €59.39 million per year in ten years.
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