Article 2

1. This Directive shall not apply to: credit agreements or agreements promising to grant credit: intended primarily for the purpose of acquiring or retaining property rights in land or in an existing or projected building, intended for the purpose of renovating or improving a building as such; hiring agreements except where these provide that the title will pass ultimately to the hirer; credit granted or made available without payment of interest or any other charge; credit agreements under which no interest is charged provided the consumer agrees to repay the credit in a single payment; credit in the form of advances on a current account granted by a credit institution or financial institution other than on credit card accounts. Nevertheless, the provisions of Article 6 shall apply to such credits; credit agreements involving amounts less than 200 ECU or more than 20 000 ECU; credit agreements under which the consumer is required to repay the credit: either, within a period not exceeding three months, or, by a maximum number of four payments within a period not exceeding 12 months. 2. A Member State may, in consultation with the Commission, exempt from the application of this Directive certain types of credit which fulfil the following conditions: they are granted at rates of charge below those prevailing in the market, and they are not offered to the public generally. 3. The provisions of Article 4 and of Articles 6 to 12 shall not apply to credit agreements or agreements promising to grant credit, secured by mortgage on immovable property, in so far as these are not already excluded from the Directive under paragraph 1 (a) of this Article. 4. Member States may exempt from the provisions of Articles 6 to 12 credit agreements in the form of an authentic act signed before a notary or judge.

← (e) · All articles · 1. →

Source: EUR-Lex (Cellar) · retrieved 2026-10-11 · Text as adopted (Official Journal); later amendments are not incorporated in this text.