Home saving

Home saving is saving for a specific purpose. The purpose of home saving is to finance housing needs and needs relative to housing. Home saving means saving with a home savings bank, which subsequently provides a housing loan to the saver upon their compliance with the terms and conditions laid down in the contract.

If you decide to save with a home savings bank, your deposit will earn interest at the rate agreed upon contractually and, if you meet the terms and conditions laid down in the contract, you will receive a state interest subsidy each year. The state interest subsidy is a contribution from the state and is credited to home savings accounts on an annual basis. The payment of a state interest subsidy is the main difference between home saving and other forms of saving (time deposit, savings account). The criteria for state interest subsidy payment will be laid down in your home saving agreement in accordance with the applicable law. According to law, a home saver is eligible for a state interest subsidy only for one home saving agreement. This means that, if you have signed more than one home saving agreement, you will receive a state interest subsidy only for one home saving agreement, depending on your choice. The state interest subsidy for 2016 was €66.39.

If you have a home saving agreement, you may take out a housing loan under the agreed conditions, then continue saving or withdraw your deposit. If you withdraw your deposit earlier than six years after the conclusion of the agreement, you will be eligible for a state interest subsidy only if you prove that you have used the funds withdrawn for housing purposes. 

If you wish to enter into a home saving agreement, you may do so exclusively with a home savings bank. The name of a home savings bank includes the words ‘stavebná sporiteľňa'. At the present time, there are only three home savings banks in Slovakia:    

Wüstenrot stavebná sporiteľňa, a.s.;

Prvá stavebná sporiteľňa, a.s.; and

ČSOB stavebná sporiteľňa, a.s.