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.

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.