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Building Savings

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hyponamiru.cz / Glossaries / Building Savings

A specific type of savings that allows you to save a sum of money for the future construction, reconstruction or other building improvements to the property is called a building savings account, also known as a building loan.

Building savings as a financial product

A building society is a financial product that allows you not only to save and appreciate money, but also to finance the construction, renovation, purchase or improvement of a property. It is divided into two parts, savings and credit.

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Savings period

In this part, the client saves and deposits regular payments into the building savings account. The state provides him with a building savings allowance in addition to these payments if certain conditions are met, all of which is interest-bearing. Depending on the client’s decision, the savings will end with the termination of the contract or, if the client wishes, with the allocation of a building society loan.

Attention! The building savings agreement includes a commitment period during which you cannot touch the money you have saved. According to the law, the binding period is at least 6 years, if you terminate the contract before its expiry, you must return the state aid.

Credit period

Have you decided to take out a building society loan? Then you can apply for:

  • A regular loan from a building savings account, which requires certain conditions to be met (saving for a minimum of 2 years, saving a certain part (depending on the bank 30-60%) of the target amount and reaching a minimum value in the so-called assessment number). A proper building society loan guarantees you an interest rate for as long as you are repaying it, and you can also pay it back at any time without penalty.
  • A bridging loan from a building society to bridge the time until you get a proper building society loan.
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Frequently asked questions

Can a mortgage be really arranged online?

Yes, it can. Thanks to the latest technology we’re using, you really don’t need to go to the bank to arrange a mortgage. Check it out for yourself.

How long does it take to arrange a mortgage?

A mortgage can be arranged within a month or three. The whole process usually takes around two months. The reason behind it is mostly the approval process on the side of the banks. However, there’re plenty of possibilities to speed up the mortgage application and we know them. Check it out for yourself.

With which Czech banks do you have the best experience?

The most client-oriented bank is certainly Hypoteční banka with their speed of request processing, the service quality, the range of checking accounts they offer, and the interface called “Mortgage Zone”. Other such banks include Komerční banka, Moneta and Raiffeisenbank.

Do you deal with new mortgages as well as refinancing?

Yes, we deal with both new mortgages as well as refinancing of the existing home mortgage loans. Our specialists will find a solution for you in either case – a solution you can afford.

We facilitate consumer credit as a tied agent registered by CNB under company ID number 05736501. We are also registered as an independent consumer credit broker of commercial company Broker Trust, a.s., company ID number: 26439719.

@ 2023 The company Hypo na míru s.r.o. is registered at the Municipal Court in Prague, file number C 269834, company ID number: 05736501.