If you’ve been eyeing a car for a long time but financing hasn’t worked out so far, we have good news: from January 2025 a new, interest‑free loan option becomes available for young people aged 17–25.
What is the “Worker Loan”?
The “Worker Loan” (“Munkáshitel”) is an interest‑free loan that can be applied for from 1 January 2025.
The core rules are set by law, so the basics are the same at every bank:
- It’s a free‑use loan, so you can use it to buy a car.
- Maximum loan amount: HUF 4 million.
- Term: up to 10 years.
- Interest‑free if you meet the conditions. Depending on the term and the borrowed amount, the APR starts from 0.4–0.55%.
- Women who have children during the term may receive significant benefits: after the 1st child, repayments can be suspended for 2 years; after the 2nd child, half of the outstanding debt is forgiven; after the 3rd child, the entire outstanding debt is forgiven.
Worker loan eligibility
You can apply if you don’t have a university degree and you’re not enrolled in higher education.
Age: At the time of application you must not have turned 26 yet. The lower age limit may differ by bank, but it is typically 18.
Residence and employment: You must commit to having a registered address in Hungary and working in Hungary for at least 5 years from disbursement.
Social security status: Having social security coverage is required, although banks may differ in how long a period you must prove.
Banks may set additional requirements too—for example they may ask you to open an account with them or require a minimum income.
The Instacar app helps with buying a car
To make buying a car easier, it’s worth trying the Instacar app.
With the app you can quickly and easily look up the car you’re considering, check the car’s estimated market value, calculate transfer costs, and calculate an MTPL (KGFB) premium.