Withdrawal from the loan agreement and refund of commission

Sometimes, after concluding a loan agreement with the bank, the consumer decides to change his decision. For example, it may be concluded that the offer was not favorable, or another bank may in the meantime offer him a more attractive offer to conclude a loan agreement.

Can it be withdrawn from previous arrangements with the bank? Yes – the provisions of Polish law protect consumers and allow them to withdraw from a loan agreement. What’s more, in this situation you are entitled to a refund of the commission. Read the explanations below and you will find out in what cases and how you can apply for it.

Consumers often decide to take a loan


On the spur of the moment – due to an extremely poor financial situation or a sudden, large expense. They usually conclude a contract with an institution that offers money “quickly and easily”, although not necessarily on the best terms. If it happened to you, you don’t have to stay with a loan that is bad for you.

You can withdraw from the loan agreement within 14 days, while devoting this time to finding a better offer. You can return money taken from the first institution later, within 30 days of submitting the statement of withdrawal. This means that you will maintain financial liquidity, while repaying the loan on more favorable terms in the other institution.

The legal basis for the consumer’s withdrawal

From the concluded consumer loan agreement are the provisions of the Consumer Credit Act of May 12, 2011 (i.e. of May 16, 2019, Journal of Laws, item 1083, as amended). It imposes an obligation on the creditor or credit intermediary to inform the consumer about the date, manner and effects of withdrawal from the contract before its conclusion. The above information (subject to the exceptions indicated in the Act) should also be included in the content of the consumer loan agreement itself .

This means that if you decide to withdraw from the loan agreement, but you do not know if you will be entitled to a refund, you should first look at the provisions in the loan agreement.

Consumer credit agreement

Consumer credit agreement

Within the meaning of the Consumer Credit Act – what exactly?

For the record, let us remind you that the provisions of the above Act as a consumer loan agreement consider such a loan agreement in the amount of not more than USD 255 550 (or the equivalent of this amount in a currency other than the Polish currency) , which the lender grants or promises to grant consumer.

Such an agreement, within the meaning of the provisions of the Act, is also an agreement for a loan not secured by a mortgage, which is intended for the renovation of a house or apartment, including in the amount of more than USD 255 550 .

In addition , a consumer credit agreement is in particular :

  1. Loan agreement.
  2. Loan agreement within the meaning of the banking law.
  3. Agreement on deferment to the consumer of the date of satisfying the cash benefit, if the consumer is obliged to bear any costs related to the deferment of the benefit.
  4. Credit agreement, in which the creditor incurs a liability to a third party and the consumer undertakes to return the fulfilled benefit to the creditor.
  5. Revolving loan agreement.

It is worth noting that within the meaning of the provisions of the above the act is not recognized as Online Payday Loan.