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Telephone bonds

Inventory number: T99 2/15/3
Location: Hall 2

In the early 1980s the Hungarian Post elaborated a whole series of telecommunication development plans. At the end of 1983, in an effort to ensure the financial background for development over and above the plan, the Hungarian Post Office and the State Development Bank issued telephone bonds in a total value of 310 million HUF. Residential subscribers contributed to the development costs by purchasing telephone bonds of 25 000 HUF per station, and public subscribers 100 000 bonds per station. The Post agreed to install a telephone line for the bond purchasers within a specific period of time. Along with the notice of installation, the Post repaid the first installment of the bond with 7 per cent, later with 9 per cent interest, and installed the telephone for payment of 50% entrance fee. It subsequently redeemed the remaining bond amount with annual 7% interest. The bond was first used in the area of Szeged. The last, series V bonds, were issued in 1989.

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