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Financial reserve

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hyponamiru.cz / Glossaries / Financial reserve

Responsible households and individuals have a financial buffer in place for a rainy day. In the event of a shortfall in a regular source of income, they can use the ready financial reserve to cover current expenses. For example, they can use their savings to pay for rent, utilities, telephone bills, monthly mortgage or consumer loan payments, groceries and medicines for a certain period of time.

Minimum amount of financial reserve

Dostatečná finanční rezerva vám zajistí potřebný klid v nepříznivé životní situaci. Optimální výše finanční rezervy bude u každého z nás jiná. Pokud bydlíte ve vlastní nemovitosti, nesplácíte žádné úvěry a děti už na vás

A sufficient financial reserve will give you the peace of mind you need in an adverse life situation. The optimal amount of financial reserves will be different for each of us. If you live in your own property, have no loans to repay and your children are no longer financially dependent on you, you can get by with a much lower amount than a family with children paying off a mortgage on a flat and a car loan. The financial reserve should be enough to cover your expenses for at least six months. In the case of a family with monthly expenses of CZK 30 000, this is CZK 180 000.

How to create a financial reserve?

Build your financial reserve continuously. Set aside at least 20 percent of your income each month. It’s worth putting money in a separate savings account with no notice period. This is because you can withdraw the money quickly if you need it without penalty or fees. Choose a savings account that offers at least a minimum interest rate on your deposit.  

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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.

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.

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.

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.