Austria’s Consumer Credit Act 2026 (VKrG 2026)
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Loans and BNPL
A new Verbraucherkreditgesetz 2026 replaces the old act for contracts signed from 20 November 2026. Buy now, pay later through a third party such as Klarna becomes regulated credit. A lender may not lend after a negative credit check (§ 17). The 14-day withdrawal right gets a 12-month-and-14-day cap, and fines stay at €10,000 per offence.
Mortgages and online contracts
Two neighbouring changes run on different dates. Online contracts concluded from 1 October 2026 need a withdrawal button under § 13a FAGG. Fixed-rate property loans signed from 1 January 2027 can carry an early repayment fee of up to 3% under § 20 Abs. 3 HIKrG, up from 1%. Personal loans stay at 1%.
What Changes in Austrian Consumer Credit Law on 20 November 2026?
| Rule | Old VKrG (to 19 Nov 2026) | VKrG 2026 (from 20 Nov 2026) |
|---|---|---|
| Smallest credit covered | €200 (§ 4 Abs. 1) | No minimum in the scope rule (§ 6) |
| Short, cheap credit | Outside if repaid within 3 months at minor cost (§ 4 Abs. 2 Z 1) | No such scope exemption; only lighter disclosure (§ 8 Abs. 2) |
| Payment deferral (BNPL) | Only paid deferrals covered (§ 25 Abs. 1) | Any deferral covered (§ 39 Abs. 1); shop-own, free, 50-day deferrals exempt (§ 39 Abs. 2 Z 3) |
| Creditworthiness | Check, then warn if serious doubts (§ 7 Abs. 2) | No credit unless the check is positive (§ 17 Abs. 6) |
| Data used for the check | Not restricted in the act | No social media, no special-category data (§ 17 Abs. 2) |
| Automated decisions | No rule | Right to human review and an explanation (§ 17 Abs. 5) |
| Unsolicited credit | No ban | Banned (§ 7) |
| Discrimination by nationality or residence | No rule in the act | Banned for EU residents (§ 5) |
| Pre-ticked boxes | No rule | No valid consent (§ 15) |
| Insurance tied to the credit | Disclose it (§ 5 Abs. 2, § 6) | Accept an equivalent outside policy; 3 days to compare (§ 14 Abs. 4) |
| Advertising | Representative example if costs are named (§ 5) | Plus the warning “Achtung! Kreditaufnahme kostet Geld” (§ 8 Abs. 1) |
| Withdrawal | 14 days, no long-stop (§ 12) | 14 days, at most 12 months and 14 days (§ 25 Abs. 2) |
| Early repayment | 1% / 0.5%, €10,000 free, variable €0 (§ 16) | Unchanged (§ 29) |
| Repayment schedule | Free on request (§ 10) | Free on request (§ 22) |
| Arrears | Two-week grace before the loan is called (§ 14 Abs. 3) | Forbearance first, referral to debt counselling (§ 31) |
| Consumer leasing | § 26: option and value-guarantee leases excluded from withdrawal | § 41: only value-guarantee leases excluded (§ 41 Abs. 3) |
| Fines | Up to €10,000 (§ 28) | Up to €10,000, may be published (§ 44) |
| Bank organisation | No consumer-credit section in the BWG | § 33a BWG duties, FMA-enforced |
Our comparison, read on RIS on 14 October 2026: the consolidated VKrG and the VerKRÄG 2026, BGBl. I Nr. 36/2026. “No rule” means the old act has no section on it; general civil law may still apply.
The Verbraucherkreditrechts-Änderungsgesetz 2026 (VerKRÄG 2026) repeals the VKrG of 2010 and enacts a new VKrG 2026 with 46 sections. It was published on 10 June 2026 and applies from 20 November 2026. It implements the EU consumer credit directive 2023/2225. Three changes matter most: deferrals are covered, a failed check now blocks the credit, and withdrawal has an end date.
Most section numbers moved, so a contract or a forum post citing § 7, § 12 or § 16 is citing the old act. The new numbering is § 17 for the credit check, § 25 for withdrawal and § 29 for early repayment. The amending act also changes the Maklergesetz, the KSchG and the BWG, all from the same date.
Some protections are older than the reform and simply move. The free repayment schedule, the €10,000 annual early-repayment allowance and the 1% cap all carry over unchanged. If you hold a loan today, nothing in it changes on 20 November 2026 unless it is an open-ended credit line, which the next section covers.
Which Law Applies to Your Credit Contract?
| Your contract | Rules that apply | Source |
|---|---|---|
| Fixed-term loan signed by 19 Nov 2026 | Old VKrG for its whole life | § 45 Abs. 2 VKrG 2026 |
| Overdraft or other open-ended credit running on 20 Nov 2026 | Old VKrG, plus the new rules on rate changes, termination, assignment and account statements | § 45 Abs. 3 VKrG 2026 |
| Any consumer credit signed from 20 Nov 2026 | VKrG 2026 in full | § 45 Abs. 1 and 2 |
| Online distance contract signed from 1 Oct 2026 | Withdrawal button required | § 13a, § 20 Abs. 5 FAGG |
| Property loan signed by 31 Dec 2026 | Early repayment fee capped at 1% | § 20 Abs. 3 HIKrG |
| Property loan signed from 1 Jan 2027 | Early repayment fee capped at 3% | § 20 Abs. 3 Z 2, § 31 Abs. 9 HIKrG |
The contract date decides which law you have. A fixed-term loan signed on or before 19 November 2026 stays under the old VKrG until it is repaid. A loan signed from 20 November 2026 follows the VKrG 2026 in full (§ 45). There is no conversion of existing loans, and no form to sign.
The exception is open-ended credit, such as an overdraft. Under § 45 Abs. 3, the new sections on rate-change notices (§ 24), lender and consumer termination (§§ 27, 28), assignment (§ 30) and overdraft statements and cuts (§§ 33 to 35) also apply to such contracts if they still run on 20 November 2026.
Two other dates sit next to the reform. The withdrawal button under § 13a FAGG applies to online contracts signed after 30 September 2026. The 3% mortgage cap applies to property loans signed after 31 December 2026. Neither comes from the VKrG 2026, and each has its own transition rule.
Does Buy Now, Pay Later Count as Credit Under the VKrG 2026?
| Set-up | Under the VKrG 2026? | Why |
|---|---|---|
| A local shop lets you pay its own invoice in 30 days, free | No | Supplier's own deferral, free, within 50 days (§ 39 Abs. 2 Z 3) |
| The same shop allows 60 days | Yes | Over the 50-day line |
| A large online retailer gives you 30 days itself | Yes | Non-SMEs selling online: only 14 days, and no third party may acquire the claim |
| Pay in 3 or invoice through Klarna or Riverty at checkout | Yes, in our reading | A third party extends the deferral, so Z 3 does not fit |
| Interest-bearing instalments (Ratenkauf) | Yes | Paid deferral, as under the old act |
| Debit card with deferred debit within 40 days, no interest | No | § 39 Abs. 2 Z 2 |
Our reading of § 39 VKrG 2026 on 14 October 2026. The act names no provider, and no court has applied § 39 yet. Rows 4 and 5 describe the usual checkout set-up; your contract terms decide.
Mostly yes, from 20 November 2026. The old act covered only paid deferrals (§ 25) and nothing under €200, so an interest-free Klarna instalment sat outside it. § 39 Abs. 1 VKrG 2026 drops the word “paid” and covers any deferral. Free deferrals get lighter disclosure under § 39 Abs. 3, but the § 17 check applies.
The exemption in § 39 Abs. 2 Z 3 has three conditions. The seller defers payment itself, without a third party offering credit. The price is free of interest and fees, apart from limited default costs. Full payment is due within 50 days of delivery. For sellers that are not small or medium enterprises and sell online, the limit is 14 days, and no third party may acquire the payment claim.
The practical change is the credit check. A BNPL provider must now assess you before it extends the deferral, and may not proceed after a negative result. The KSV1870 reporting that already exists for instalment purchases does not change. Our loans guide covers what a missed BNPL payment does to your credit file.
Can a Lender Still Lend After a Failed Credit Check?
No, not for contracts from 20 November 2026. § 17 Abs. 6 VKrG 2026 lets a lender provide credit only if the check shows you are likely to repay as agreed. The old § 7 Abs. 2 already required the check, but where it raised serious doubts the lender only had to warn you. The new act turns that warning into a lending ban.
The check itself gets rules. It must rest on income, expenses and other relevant facts, verified where appropriate (§ 17 Abs. 2). It may not use social media or special-category data such as health. If a machine decides, you can demand a human review, an explanation and the chance to state your side (§ 17 Abs. 5).
A refusal comes with information. The lender must tell you promptly and point you to debt counselling where that fits (§ 17 Abs. 8). If a database entry caused the refusal, it must name the database, the result and the data categories, free of charge (§ 19). For most borrowers that database is the KSV1870.
The ban also protects you after signing. Under § 17 Abs. 9, a lender cannot cancel or worsen your contract later by arguing that its own check was flawed. The exception is information you knowingly withheld or falsified. Advertisements for a “credit without KSV” remain a warning sign, because no licensed lender may skip the check.
How Long Can You Withdraw From a Credit Contract?
| Loan signed 20 Nov 2026 | Withdrawal ends | Rule |
|---|---|---|
| All information received at signing | 4 Dec 2026 | 14 days (§ 25 Abs. 1) |
| Information arrives on 1 Dec 2026 | 15 Dec 2026 | 14 days from receipt (§ 25 Abs. 1) |
| Required information never arrives | 4 Dec 2027 | 12 months and 14 days (§ 25 Abs. 2) |
| Never told about the withdrawal right | No long-stop | § 25 Abs. 2, last sentence |
Our calculation from § 25 VKrG 2026 for a contract concluded on 20 November 2026. Sending the notice within the period is enough (§ 25 Abs. 1).
14 days without giving reasons, under § 25 Abs. 1 VKrG 2026. The period runs from signing, or from the day you receive the contract terms and information if that is later. New is the cap: if the information never arrives, the right ends 12 months and 14 days after signing. The old § 12 had no such end date.
The cap does not apply if the lender never told you about the withdrawal right at all. After withdrawing, you repay the amount drawn plus interest at the contract rate within 30 days (§ 25 Abs. 5). If a linked purchase has a longer return period, the withdrawal period stretches to match it (§ 25 Abs. 3).
Withdrawing online gets easier from 1 October 2026. The VerbRÄG 2026 (BGBl. I Nr. 59/2026) adds § 13a FAGG: an online contract needs a function labelled “Vertrag widerrufen”, then a “Widerruf bestätigen” button, and the trader must confirm receipt on a durable medium. The FAGG applies § 13a to financial-service contracts too, while the VKrG keeps setting the deadline (§ 18b Abs. 7 FAGG).
What Does Early Repayment Cost Under the VKrG 2026 and the HIKrG?
| Example | Maximum fee | Rule |
|---|---|---|
| €15,000 personal loan, fixed rate, 3 years left | €150 (1%) | § 29 Abs. 4 VKrG 2026, as old § 16 |
| Same loan, 10 months left | €75 (0.5%) | § 29 Abs. 4 |
| Same loan, variable rate | €0 | § 29 Abs. 3 Z 2 |
| Repaying €8,000 within 12 months | €0 | § 29 Abs. 3 Z 3 (up to €10,000) |
| €100,000 off a fixed-rate property loan signed by 31 Dec 2026, over 1 year left | €1,000 (1%) | § 20 Abs. 3 HIKrG |
| Same, property loan signed from 1 Jan 2027 | €3,000 (3%) | § 20 Abs. 3 Z 2 HIKrG, BGBl. I Nr. 62/2026 |
| Property loan, 1 year or less left | €500 (0.5%) | § 20 Abs. 3 HIKrG, unchanged |
Our calculation of the statutory ceilings, 14 October 2026. Every fee is also capped at the interest you would have paid until the end of the term, and is only due on periods with a fixed rate.
For a personal loan, nothing changes. § 29 VKrG 2026 copies the old § 16: at most 1% of the amount repaid, or 0.5% with a year or less left. Repaying up to €10,000 within 12 months is free, and so is any repayment during a period without a fixed rate. Overdrafts carry no fee at all.
The 3% figure is a mortgage rule, and it is not in the VKrG. The Budgetbegleitgesetz 2027-2028 (BGBl. I Nr. 62/2026, Art. 17) replaces “1%” with “3%” in § 20 Abs. 3 Z 2 HIKrG. It applies to property loans concluded or granted after 31 December 2026 (§ 31 Abs. 9).
Because a fee is only allowed for fixed-rate periods, the change hits fixed-rate mortgages. On €100,000 repaid with more than a year of fixed rate left, the ceiling moves from €1,000 to €3,000. If you plan to sell or refinance within the fixed period, the signing date now carries a price. Our mortgage guide compares fixed and variable offers.
What Must Credit Advertising and Sales Show From 20 November 2026?
Every credit advert needs a clear warning, worded “Achtung! Kreditaufnahme kostet Geld” or equivalent (§ 8 Abs. 1 VKrG 2026). If it names a rate or a cost, it must give a representative example with the total amount, the effective annual rate and the term (§ 8 Abs. 2). Misleading credit marketing counts as an unfair practice under § 1 UWG.
Some claims are banned outright. An advert may not suggest that credit improves your finances, that existing loans barely affect your creditworthiness, or that credit can replace savings (§ 8 Abs. 5). Credit you did not ask for is banned too: no lender may grant credit without your request and express consent (§ 7).
The sales process changes as well. Pre-ticked boxes do not create valid consent (§ 15). Tying a loan to a package you cannot refuse is banned (§ 14 Abs. 1). Where insurance is required, the lender must accept an equivalent policy from another insurer and give you 3 days to compare (§ 14 Abs. 4).
Before signing, you get the European standard information form and a free explanation of the offer, including what happens if you fall behind (§§ 10, 12). If the form reaches you less than one day before you are bound, the lender must remind you of the withdrawal right within 1 to 7 days after signing (§ 10 Abs. 7). A personalised price based on profiling must be disclosed (§ 13).
Who Enforces the VKrG 2026, and How High Are the Fines?
The FMA and the trade authorities share the job (§ 43 VKrG 2026). Breaches are administrative offences with fines of up to €10,000 each (§ 44 Abs. 1). The FMA decides where a supervised firm is involved, the trade authority otherwise (§ 44 Abs. 2), and fines may be published (§ 44 Abs. 3).
The ceiling did not rise. The old § 28 also capped fines at €10,000. Figures of €150,000 have circulated in summaries of the reform, but § 44 does not contain them. The fine applies only if no other administrative provision carries a stricter penalty.
Banks get a second track. The new § 33a BWG, in force from 20 November 2026, requires measures against significant VKrG breaches, trained staff, and pay for credit assessors that does not depend on approval numbers. Banks also need early-warning and arrears strategies. Breaches are punishable under § 98 Abs. 5a BWG, and the FMA may set staffing minimums by ordinance.
For you, the useful duty is § 31 VKrG 2026. Before enforcing, a lender must offer reasonable forbearance: a longer term, a payment break, a lower rate or partial forgiveness. It must also refer you to debt counselling. The FMA does not award money in individual disputes; the Gemeinsame Schlichtungsstelle handles bank disputes free of charge.
What Changes for Consumer Leasing Under § 41?
§ 41 VKrG 2026 covers four lease types as financing aid: a duty to buy, the lessor’s right to make you buy, a purchase option at a set price, and a residual-value guarantee without a purchase right. Only the last type stays outside the 14-day withdrawal (§ 41 Abs. 3). Leases with a purchase option now get it.
A residual-value lease without a purchase right can still be terminated at any time, and must be labelled “Restwertleasing ohne Ankaufsrecht” (§ 41 Abs. 7). Buying early under a purchase-duty lease counts as early repayment (§ 41 Abs. 4). Because § 39 Abs. 1 applies the credit rules to financing aid, the § 17 check reaches leases too.
Our car leasing guide works these rules through a €30,000 car over 48 months, including what an early exit costs under each lease type.
Which Rules Protect You as a Borrower?
| Law | VKrG 2026, BGBl. I Nr. 36/2026 (§ 17 credit check, § 25 withdrawal, § 29 early repayment); for older contracts the VKrG; for property loans the HIKrG. |
|---|---|
| Regulator | FMA, credit section for banks and other supervised lenders; the trade authorities for the rest (§ 43 VKrG 2026). |
| Free tool | AK Bankenrechner to compare loans on their representative examples, and the Gemeinsame Schlichtungsstelle for disputes. |
| Your right | 14 days to withdraw, capped at 12 months and 14 days if information was missing (§ 25), and no credit after a negative check (§ 17 Abs. 6), for contracts from 20 November 2026. |
A credit dispute starts with a written complaint to the lender. If the lender is a bank and the answer does not help, the Gemeinsame Schlichtungsstelle mediates free of charge. The Arbeiterkammer advises its members on contracts and fees, and can check whether a withdrawal notice was correct.
If repayments are already a strain, contact a state-recognised debt counselling service at schuldenberatung.at early. For contracts from 20 November 2026, a lender has to try forbearance first (§ 31), and a counsellor knows how to ask for it.
Consumer Credit Act 2026: Frequently Asked Questions
When does the VKrG 2026 apply in Austria?
The Verbraucherkreditgesetz 2026 (BGBl. I Nr. 36/2026, published 10 June 2026) enters into force on 20 November 2026 and applies to agreements concluded after 19 November 2026 (§ 45). Older contracts stay under the old VKrG, except that a few sections also reach open-ended contracts such as overdrafts that are still running.
Is Klarna a loan under Austrian law from 20 November 2026?
In most checkout set-ups, yes. § 39 Abs. 1 VKrG 2026 applies the credit rules to any payment deferral, paid or free. The only exemption (§ 39 Abs. 2 Z 3) covers a shop that defers payment itself, with no third party offering credit, free of interest and fees, paid in full within 50 days. When Klarna extends the deferral, that exemption does not fit. This is our reading; no court has ruled yet.
What is the maximum fine under the VKrG 2026?
€10,000 per offence under § 44 Abs. 1 VKrG 2026, the same ceiling as § 28 of the old act. Summaries quoting €150,000 do not match the text on RIS. The FMA decides for supervised firms, the trade authority for everyone else, and fines may be published. Banks also answer under § 33a BWG.
Does the 3% early repayment fee apply to my personal loan?
No. The 3% figure belongs to the HIKrG: § 20 Abs. 3 Z 2, amended by BGBl. I Nr. 62/2026, raises the cap from 1% to 3% for property loans concluded after 31 December 2026. A personal loan stays at 1%, or 0.5% with a year or less left, and €0 on a variable rate, under § 29 VKrG 2026.
Can an Austrian lender refuse me because I am not Austrian?
Not on nationality or residence alone. § 5 VKrG 2026 bans discrimination against consumers lawfully resident in the EU on grounds of nationality or residence. Different conditions need objective grounds, such as an income record the lender cannot verify. The § 17 creditworthiness check still applies to everyone.
How Did We Check This?
Every section number on this page was read in the primary text on the Rechtsinformationssystem des Bundes on 14 October 2026: the authentic BGBl. I Nr. 36/2026, 59/2026 and 62/2026, and the consolidated VKrG and HIKrG. We compared the old and new texts section by section rather than relying on summaries, which is how the €150,000 fine figure turned out to be wrong.
The deadline and fee examples are our own arithmetic on the statutory rules. The BNPL table applies § 39 to common checkout set-ups; that reading has not yet been tested in court. This guide is general information, not legal or credit advice.
Sources: VerKRÄG 2026, BGBl. I Nr. 36/2026 (VKrG 2026 §§ 5 to 45, Art. 6 BWG § 33a); VerbRÄG 2026, BGBl. I Nr. 59/2026 (FAGG §§ 1a, 13a, 18b, 20); Budgetbegleitgesetz 2027-2028, BGBl. I Nr. 62/2026, Art. 17 (HIKrG § 20 Abs. 3 Z 2, § 31 Abs. 9); consolidated VKrG (§§ 4, 5, 7, 10, 12, 14, 16, 25, 26, 28) and HIKrG (§ 20), all read on RIS on 14 October 2026.
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