Article 21

1. Member States shall require that the credit agreement specify in a clear and concise manner all of the following elements: (a) the type of credit; (b) the identities, geographical addresses, telephone numbers and email addresses of the contracting parties as well as, where applicable, the identity and geographical address of the credit intermediary involved; (c) the total amount of credit and the conditions governing the drawdown; (d) the duration of the credit agreement; (e) in case of a credit in the form of deferred payment for specific goods or services and in the case of linked credit agreements, the specific goods or services and their cash price; (f) the borrowing rate, or all borrowing rates where different borrowing rates apply in different circumstances, the conditions governing the application of each borrowing rate and, where available, any index or reference rate applicable to each initial borrowing rate, as well as the periods, conditions and procedures for changing each borrowing rate; (g) the annual percentage rate of charge and the total amount payable by the consumer, calculated at the time the credit agreement is concluded and an indication of all assumptions used in that calculation; (h) the amount, number and frequency of payments to be made by the consumer and, where appropriate, the order in which payments will be allocated to different outstanding balances charged at different borrowing rates for the purposes of reimbursement; (i) where capital amortisation of a credit agreement with a fixed duration is involved, a reference to the right of the consumer to receive, on request and free of charge, at any time throughout the duration of the credit agreement, a statement of account in the form of an amortisation table; (j) where charges and interest are to be paid without capital amortisation, a statement showing the periods and conditions for the payment of the interest and of any associated recurrent and non-recurrent charges; (k) where applicable, the charges for maintaining one or more compulsory accounts recording both payment transactions and drawdowns, the charges for using a means of payment for both payment transactions and drawdowns, any other charges deriving from the credit agreement, and the conditions under which those charges may be changed; (l) the interest rate applicable in the case of late payments as applicable at the time of the conclusion of the credit agreement and the arrangements for its adjustment and, where applicable, any charges payable for default; (m) a warning regarding the consequences of missing or late payments; (n) where applicable, a statement that notarial fees will be payable; (o) where applicable, the sureties and insurance required; (p) the existence or absence of a right of withdrawal, the withdrawal period, where applicable, and other conditions governing the exercise thereof, including the durable medium to be used for the notification referred to in Article 26(5), first subparagraph, point (a), information concerning the obligation of the consumer set out in Article 26(5), first subparagraph, point (b), to pay the capital drawn down and the interest, and the amount of interest payable per day; (q) the type of durable medium on which the consumer chooses to receive the following: (i) where applicable, the reminder referred to in Article 10(1), second subparagraph; (ii) the information referred to in Article 22; (iii) the information on the change in the borrowing rate referred to in Article 23(1), first subparagraph; (iv) where applicable, the information referred to in Article 24(1) and (2); and (v) where applicable, the information on the termination of an open-end credit agreement referred to in Article 28(1), second subparagraph, and Article 28(2); (r) where applicable, information concerning the rights set out in Article 27 as well as the conditions for the exercise of those rights; (s) a reference to the right of early repayment set out in Article 29, the procedure for early repayment, as well as, where applicable, information concerning the creditor’s right to compensation and a transparent and comprehensible explanation how the compensation due to the creditor by the consumer is to be calculated; (t) the procedure to be followed in exercising the right of termination of the credit agreement; (u) the possibility of having recourse to an out-of-court complaint and redress mechanism for the consumer and the methods for having access to it; (v) where applicable, other contractual terms and conditions; (w) the name and address of the competent supervisory authority; (x) the relevant contact details of providers of debt advisory services and a recommendation for the consumer to contact such providers in the event of repayment difficulties. The information referred to in the first subparagraph shall be clearly legible and adapted to take into account the technical constraints of the medium on which it is displayed. Information shall be displayed in an adequate and suitable way on the different channels. 2. Where paragraph 1, first subparagraph, point (i), applies, the creditor shall make available to the consumer, free of charge and at any time throughout the duration of the credit agreement, a statement of account in the form of an amortisation table. The amortisation table referred to in the first subparagraph shall indicate the payments owing and the periods and conditions relating to the payment of such amounts. The amortisation table shall also contain a breakdown of each repayment specifying the capital amortisation, the interest calculated on the basis of the borrowing rate and, where applicable, any additional costs. Where the borrowing rate is not fixed or the additional costs may be changed under the credit agreement, the amortisation table shall indicate, clearly and concisely, that the data contained in the table will remain valid only until such time as that borrowing rate or those costs are changed in accordance with the credit agreement. 3. In the case of a credit agreement under which payments made by the consumer do not give rise to an immediate corresponding amortisation of the total amount of credit, but are used to constitute capital during periods and under conditions laid down in the credit agreement, or in an ancillary agreement, the credit agreement shall, in addition to the information referred to in paragraph 1, include a clear and concise statement that such credit agreements do not provide for a guarantee of repayment of the total amount of credit drawn down under the credit agreement, unless such a guarantee is given expressly.

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Source: EUR-Lex CELLAR · retrieved 2026-07-30