Currently, asp loan payers enjoy a significant interest subsidy offered by the government. This subsidy is designed to help reduce the total interest rate paid on asp mortgages. By using HS’s calculator, borrowers can determine how much interest subsidy they qualify for based on their loan amount.
The process of receiving the interest subsidy is straightforward as the bank automatically reimburses the excess interest and later invoices the support provided to the State Treasury, which manages the state’s financial affairs. In recent years, with rising interest rates, many loans have become eligible for this subsidy. For instance, when Euribor rates rose above 3.8%, many loans exceeded this limit and became eligible for the interest subsidy.
As of now, loans tied to three- and six-month Euribor are slightly below but still close to the interest rate limit without factoring in margin. The bank has already paid out over four million euros in interest subsidies to asp borrowers in the past year alone. As of September 2021, there were more than 47,000 asp loans with a total loan amount of 4.3 billion euros. Although popular among young people aged between 15 and 44 years old who have not previously owned an apartment, asp loans declined two years ago due to reduced tax benefits on savings accounts. However, their appeal remains strong because of tax-free savings interests and additional annual rates offered for five consecutive years after account opening.
To open an Asp account, applicants must be between the ages of 15 and 44 and have not previously owned an apartment. Deposits must be made in at least eight calendar quarters with each quarter allowing deposits between 150 and 4,500 euros. An Asp account offers an annual tax-free deposit interest rate of one percent along with additional annual rates ranging from 2% -4% for five consecutive years after account opening.
Once at least ten percent of the apartment’s purchase price is saved through Asp deposits, borrowers can apply for a free government guarantee on a loan from their bank.
In conclusion, asp loan payers can take advantage of several benefits that come with opening an Asp account such as tax-free savings interests and additional annual rates offered for five consecutive years after account opening. Additionally, once ten percent of their apartment’s purchase price is saved through Asp deposits, they can apply for a free government guarantee on a loan from their bank while also enjoying an interest subsidy provided by