First of all, it is important to clarify what we call interest. Interest is a fee for using money “borrowed” from a bank. This, as we can see in the figure, consists of two parts: the reference interest rate and the interest premium.
What does the interest rate premium mean?
Interest rates are set individually by banks. The rate varies, depending on what interest rate discounts we are entitled to, or how risky we are in terms of repayment.
The more secure the bank is in getting back your money without delay, the lower the interest rate premium. That is, if you have a higher income or greater savings, you will have better access to credit.
What does the reference rate mean?
For a loan, the reference rate is the reference rate set by the central bank on the basis of the interest rate quotations provided by the panel banks.
This is what banks consider to be the prevailing interest rate. The most frequently used reference rates and government bond yields. The interest rates on loans follow changes in these values.
What is the difference between interest and interest?
The Fair Banking Act, which entered into force on February 1, 2015, provided for interest rates related to mortgages. According to this the interest can be divided into 3 types:
fixed interest rate, ie fixed interest rate until maturity
varying by interest period
interest linked to a reference rate.
But what do these names mean?
1. Interest fixed until maturity
This is characterized by the fact that the interest rate specified in the contract cannot change until the end of the term. A fixed rate loan therefore represents a predictable monthly expense. If you decide to do so when borrowing, you can be sure that your installment will remain constant throughout the term.
2. Interest fixed by interest period
For this type of loan, the interest rate may not change for the duration of the contract. This period can be 5 or 10 years. After that, of course, it may change, but the change is called the MNB. rate of interest rate.
3. Variable interest rate linked to a reference interest rate
This is just as the name implies a variable type of interest. The reason for this is the composition of the transaction interest rate. In contrast to the above, the transaction interest rate consists of two parts: the interest rate premium set by the bank and the so-called interest rate premium. referenciakamatból.