Banks deposit HUF 10 mln in 'Stability Savings Accounts'
Hungarian banks opened a total of 155 "Stability Savings Accounts" with deposits of HUF 10.25 bln in Q3, Hungarian business daily Napi Gazdaság reported today. In the first three quarters 444 accounts, which are sheltered from tax scrutiny, were opened with total deposits of HUF 29.37 bln, the paper added.
Hungarian banks opened a total of 155 "Stability Savings Accounts" with deposits of HUF 10.25 bln in Q3, Hungarian business daily Napi Gazdaság reported today. In the first three quarters 444 accounts were opened with total deposits of HUF 29.37 bln, the paper added.
The specialty accounts were designed to lure customers out of "off-shore" bank accounts. The origin of the deposits is not being scrutinized by the tax authority, nor are banks required to report the names of account holders. Withdrawals from the accounts are subject to a tax that decreases over time, becoming tax-free five years following the deposit.
The deposit rate on the accounts – based on the minimum deposit of HUF 5 mln – is benchmarked to government securities yields. The "Stability Savings Accounts" are available at OTP Bank, FHB, UniCredit Bank, Raiffeisen, MKB and Erste, the paper reported.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
