Can I withdraw from a loan within 14 days?
Yes — within 14 days, and without giving a reason. Under § 13 of Act 129/2010, a consumer is entitled to withdraw from a consumer credit agreement without stating any reason within 14 calendar days of the day the contract was concluded — or of the day the contractual terms were delivered to them, if the contract did not contain them. You send the notice to the lender in writing or on another durable medium. What you return: the principal and the interest on it for the days from drawdown to repayment — and you must do so within 30 calendar days of sending the notice. The lender may demand nothing else, save for non-returnable fees it paid to a public authority.
📋 The rules
- 14 calendar days, no reason required
- The period runs from the conclusion of the contract
- If the terms were missing, only from their delivery
- Notice in writing or on a durable medium
- You return principal and interest within 30 days
🔓 Exceptions
- The lender may claim no other compensation and no penalty
- The exception is non-returnable fees paid to a public authority
- Withdrawal and early repayment are two distinct institutions
⚠️ Penalties & fines
This right is stronger than most people realise — and many never use it simply because they do not know it exists. You may withdraw without giving a reason, and the lender may not charge you any sanction or contractual penalty. The only thing you pay is the principal and the interest for the days you actually had the money. The notice is what matters: send it provably — by recorded delivery, or in some way that leaves you proof of despatch — because the 14 days is a strict preclusive period and missing it extinguishes the right. And do not confuse it with early repayment: that merely shortens the contract, whereas withdrawal cancels it from the outset.
📎 Official sources
- Slov-Lex · Consumer Credit Act (129/2010) →
- National Bank of Slovakia · Consumer protection →
- Slovak Trade Inspection →
❓ Frequently asked
Must I give a reason?
No. The Act says expressly that a consumer may withdraw without stating any reason. The lender may not refuse the withdrawal or question it on the ground that you have simply changed your mind about the terms.
When does the period start?
On the conclusion of the consumer credit agreement. But if the contract did not contain the contractual terms, the period only begins to run once those terms have been delivered to you — which can be considerably later.
What must I return?
The principal and the interest on it for the period from the day the credit was drawn down to the day the principal is repaid. You must do so without delay, and at the latest within 30 calendar days of sending the notice.
Can the lender charge a fee?
No. Beyond principal and interest it has no claim to any other compensation, with a single exception — non-returnable fees it paid to a public authority in connection with the credit.
How should I send the withdrawal?
In writing or on another durable medium available to the lender. Send it provably, ideally by recorded delivery — the 14-day period is preclusive, and missing it extinguishes the right to withdraw for good.
🔎 Common searches
What people search to land here:
- “withdraw from a loan within 14 days slovakia”
- “cancel a loan without a reason”
- “section 13 act 129/2010”
- “withdrawal from consumer credit template”
- “return principal and interest 30 days”
- “i changed my mind about the loan”