Here’s the unbeatable payday loan deal?

The payday loans market continues to roar. According to MNB statistics, banks’ most popular loan product is HUF 214.4 billion in the first half of the year, which is almost 52 percent more than in the same period of the previous year.

It is highly unlikely that predictable, fixed-rate payday loans will be a disservice to the Hungarian population, mainly because of the start of school, which can severely burden families’ wallets.

That is why we collected the best payday loan promotions available on the market in August, which can be used better than applying for a loan.

Good Finance Bank: Let’s start off with a very enticing offer

Good Finance Bank: Let

Because Good Finance Bank is quite upset with the stagnant water of payday loan pricing with the latest August promotion available to new clients today. The financial institution offers an almost unconditional interest rebate on a loan amount of HUF 1 million in the net income band of HUF 100,000 – 250,000. At HUF 250,000, the APR is 9% , and of the HUF 100,000 is 12.3% for new clients, ie those who did not have a retail bank account at the bank on July 24 and do not have a Good Finance retail loan at the time of applying for the loan. According to Odette’s payday loan calculator, the best deal in this income band is now Good Finance if you don’t want to take your income to the bank you choose.

Not only is this a bargain for borrowers, the bank can carve up to 10 percent off the transaction rate if you’re already a client:

  • With active account usage, the financial institution releases 3 percent, so in exchange, at least the current monthly minimum wage must reach your bank account held in bank in up to two installments, and at least 4 transactions, including bank card cash withdrawal, bank card purchase, also direct debit.
  • You can get an income discount if you apply for a loan of $ 1 million or more (the goal cannot be to redeem a Good Finance loan) and your monthly net income can justifiably reach $ 250,000. The discount rate is 7 percent of the transaction interest.

If you take both promotions, you can earn a 7.95 percent transaction interest .

Following Good Finance’s offer, let’s see what others have to offer

The financial institution has not departed from its previous promotions, we can still obtain the already known interest bonuses:

  • the largest Hungarian financial institution still offers online coupon discount on applications filed by August 12th at the latest. The discount rate is 1 percentage point of the transaction interest over the entire term. The financial institution will call you back for a coupon and provide some contact information, and will make an appointment at the branch. The bank will send the online coupon via email to the address provided, which must be presented to the agent at the agreed time.
  • OTP Bank also distributes a promotional coupon code : the code, which is also valid until August 12, can give you a 1, 2 or 3 percent discount on the payday loan transaction rate for the entire term, depending on the type.

The financial institution rewards loyalty and offers its clients


Interest discounts in this spirit. If you have been a good paying debtor for at least one year, that is, we have no defaults on repayment, or have received a credit in our retail current account in the past six months, or have a live credit card, mortgage, personal or leasing loan,