Consumer credit

People usually apply for consumer credit when they need money for the purchase of consumer goods, such as furniture, car or electronic equipment, or for home improvement.

The ABC of applying for consumer credit:

  • consumer credit can be obtained from a bank, a non-bank financial institution or directly from the seller of the goods you are going to buy;
  • consumer credit is a short-term loan;
  • companies normally require no security for consumer credit, it is enough to prove that you have sufficient income to repay the loan;
  • consumer credit may be used for any purpose;
  • you may withdraw from a consumer loan agreement within 14 days of the date of its conclusion;
  • consumer credit of up to €10,000 may be repaid at any time free of charge; the early repayment of a larger loan is subject to a fee.

Important decisions to be made when applying for consumer credit - see Six steps to consider when choosing a loan.