Can I withdraw from a loan or instalment deal in Austria?
Yes — consumer loans and instalment deals carry a 14-day withdrawal right. A consumer may withdraw from a credit agreement — and therefore an instalment agreement — within 14 days without reasons (§ 12 Consumer Credit Act). The period runs from conclusion; if you receive the contract terms and mandatory info later, it only starts then — so missing details mean the clock never starts. After withdrawal you repay the disbursed amount plus accrued interest, without delay, at the latest within 30 days; no other compensation is owed. The Act doesn't apply to credit up to €200. In short: yes, 14 days, then capital plus interest within 30 days.
📋 The rules
- 14 days withdrawal without reasons (§ 12)
- If mandatory info is missing, the clock never starts
- Repay: capital + interest within 30 days
- No further compensation
- Act doesn't apply to credit up to €200
🔓 Exceptions
- Linked credit (§ 13): withdraw the purchase separately within 1 week
- Withdrawing from the purchase cancels the linked credit automatically
- A linked residual-debt insurance is also covered
⚠️ Penalties & fines
After withdrawal you repay only capital + interest (at the agreed borrowing rate) within 30 days. The Act doesn't apply to credit up to €200 or credit repayable within 3 months with only minor charges. On acceleration, the creditor may demand the whole sum only if it has performed, an instalment is ≥6 weeks overdue, and it has dunned with a ≥2-week grace warning. Beware a myth: "if I cancel the loan, the goods are automatically cancelled too" is false for a separate bank loan — under § 13 you must separately withdraw from the purchase within 1 week. Tip: check that all mandatory information is present — if it's missing, the period doesn't even start.
📎 Official sources
❓ Frequently asked
Can I withdraw from a credit agreement?
Yes. As a consumer you can withdraw from a credit agreement, and therefore from an instalment agreement, within 14 days with no reason. The period runs from conclusion but only starts once you have all the contract terms and mandatory information.
What must I repay after withdrawal?
You repay the amount actually disbursed, plus the interest accrued up to then at the agreed borrowing rate. This must happen without undue delay, at the latest within 30 days of sending the withdrawal. No further compensation is owed.
Does this apply to an instalment purchase?
Yes. An instalment agreement is a credit transaction under the Consumer Credit Act, so the 14-day withdrawal right applies here too. Exceptions include credit up to €200 and instalment deals where the down-payment and instalments don't exceed the cash price.
Is the purchase cancelled with the loan?
Not automatically with a separate bank loan. Under § 13 you must, for a linked bank loan, separately withdraw from the financed purchase within one week of the credit withdrawal. Conversely, withdrawing from the purchase cancels the linked credit automatically.
What if mandatory info is missing?
If the contract terms and information required by law are missing, the 14-day withdrawal period doesn't begin to run. It only starts once all mandatory details have been fully supplied. As a result, your withdrawal right can remain open much longer.
🔎 Common searches
What people search to land here:
- “withdraw loan austria”
- “instalment withdrawal 14 days”
- “consumer credit act withdrawal”
- “loan withdrawal deadline austria”
- “linked credit purchase withdrawal”
- “repay loan 30 days”