Changes in building savings in 2019 will be written down in its history negatively. The state will save at the expense of ordinary people. Undoubtedly, this is the biggest change since the building savings. € 2,800 per year will be required for a full state bonus. But that’s not all. There are other substantial changes.
The attractiveness of building savings has been decreasing for a long time
Having money in building savings has been on the verge of reasonable efficiency for years. From 2019, saving in building savings will almost be a punishment. You may seem a bit exaggerated, but I just feel it if I compare it to the conditions of building savings in the recent past.
The most fundamental changes in building savings from 1.1.2019
This is a basic overview of the most important changes:
- You must deposit a minimum of € 2,800 per year to receive the full state bonus.
- The state premium will be € 70 per year.
- Only people with income up to 1.3 times the average wage will be entitled to a state bonus.
- Friendly savers have become enemies. After the 6th year of the contract, the building society will reduce your interest to a minimum.
- If you deposit money at the end of the year, you are only entitled to half the premium.
- You do not qualify for a state bonus at all when making intermediate purchases.
- Proof of the purpose of using the funds will also be necessary after the 6th year of saving.
For more information on building savings from 2019 onwards, read more in the article.
The 2019 state premium will be difficult for many to reach
By the end of 2018, € 1,327.80 was required to receive a full state bonus for building savings. For many, this has been a lot. What starts to apply from 1.1.2019 is, in my opinion, extremely much.
In order to receive the full state bonus, it is necessary to deposit € 2,800 on the building savings account. It is the historically highest amount ever to be invested in getting full premium.
Everyone will not do this anymore. It’s over € 233 a month. It may be too much for someone and will not reach the full state premium from 2019 onwards.
This applies to contracts concluded until and after 1.1.2019.
Only people up to a certain threshold will receive a premium from 2019 onwards
The bill says that if you want to qualify for a state bonus, you must have an income up to 1.3 times the average wage in the national economy.
This is monitored for the calendar year preceding the calendar year for which they claim the premium. So if you want the 2019 state premium, you will be tracked for the previous year’s income, ie 2018.
It’s a proper paradox. You need to earn enough to qualify for the state bonus, but to get the state bonus, you have to make 2 times more than 2019.
The amount of the state premium will be € 70 and a deposit of € 2,800 per year
Very long ago, when the building savings began, the state premium was a maximum of 6,000 SKK, which is about 200 €. It counted the 40% of the annual deposit.
From 2019 onwards, the state premium is only € 70 and counts the 2.5% of the annual deposit. If you only deposit € 1,000 for your building savings, you will only have a national bonus of € 25. It’s a misery. There are very few people who are approached by building savings due to the premium state.
For the full state premium in 2019, you need to deposit € 2,800.
The amount of the state premium is the same for old and new contracts.