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Current Account for the Housing Development Fund (HDF)

A current account for receipt of funds from the State Housing Development Fund.

The HDF current account is intended for:

  • corporate entities – municipalities
  • for receipt of funds from the State Housing Development Fund

Characteristics of the HDF current account:

  • financial support from the Housing Development Fund for care for the existing housing stock
  • low-interest loans to municipalities from the state budget
  • conditions for provision are determined by the Ministry for Regional Development
  • procedure for provision of loans to individual owners of residential buildings is regulated for by the municipality in terms of a public notice issued by the municipality
  • procedure for using financial resources from the fund:
    • in accordance with the public notice, the municipality will use loan funds transferred from the Housing Development Fund to set up a fund maintained in a special current account (HDF current account)
    • the loan is to be repaid in a one-off manner within 10 years of its provision
    • in its public notice, the municipality specifies:
      • the form of aid
      • the level of individual types of loans
      • their maturity
      • interest rates
    • other than modernisation of municipal apartment blocks, the funds can also be used to provide loans to private owners of housing stock in the municipality and owners of flats (natural persons and corporate entities – special purpose loan account)
  • funds from the state loan cannot be used:
    • until after the municipality's public notice has come into force
    • until a contract has been concluded with the financial institution

Advantages of the HDF current account:

  • security of funds
  • simple management of funds gained from the Housing Development Fund
  • check on the purpose of drawing from the specific purpose loan account and the deadline for drawing on the loan
  • processing of a report for the municipality 1x per month on individual clients who are in delay with repayment of loans

The HDF current account allows you to:

  • provide financial support from the Housing Development Fund also to private house owners via special purpose loan accounts
  • simple management of the financial support gained
  • check on the purpose of drawing from related special purpose loan accounts
  • check on the deadlines for drawing on loans
  • regularly check repayment of loans according to the monthly reports on clients who are in delay with repayment in the month in question or who have not made a repayment

How to get a HDF current account?

  • contact your relationship manager
  • call the free KB Info line on 800 521 521

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