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2 clusters · 3 sources · 15 days · First seen · Last updated

Hungarian banks rate cuts and mortgage competition

Overview

In late July 2026, the Magyar Nemzeti Bank lowered its base rate to 5.75%, prompting Hungarian banks to reduce retail deposit rates across the sector. Most banks cut rates by 0.25‑0.5 percentage points, affecting the majority of the 14.8 trillion forint household deposit pool.

A week later, banks shifted focus to the mortgage market as competition over the government‑backed Otthon Start program intensified. Several lenders, including UniCredit, MagNet, MBH and CIB, offered sub‑3% fixed rates on new housing loans, while Gránit raised its rate to 3%. The moves came amid record borrowing, with the Otthon Start scheme projected to account for about 80% of new housing loans in 2026.

Entities

Gránit Bank · Hungary · UniCredit Bank · Otthon Start loan program · CIB Bank

Timeline

  1. 7 days ago

    [BUSINESS] 3 sources
    Hungarian banks cut mortgage rates as competition over Otthon Start loans intensifies

    CIB Bank lowered mortgage rates to around 6.7‑6.9%, while UniCredit joined other banks offering sub‑3% Otthon Start loans; Gránit Bank raised its rates to 3%, reflecting fierce competition in Hungary’s mortgage

  2. 21 days ago

    [BUSINESS] 2 sources
    Hungarian banks slash deposit rates following MNB rate cuts

    After the MNB cut its base rate to 5.75%, Hungarian banks reduced retail deposit rates by 0.25‑0.5 points, with examples like Gránit Bank’s 6‑month rate now 5.75% and some 3‑month promos staying at 7%.

Sources

blikk.hu · haszon.hu · vg.hu