Can the provider charge interest on instalments?

Installment payments can be made both with and without interest. In connection with a credit agreement, the lender must provide information about the interest rate applicable to the installment payment. The loan’s effective interest rate must be stated in marketing, in pre-purchase information, and in the documentation of the agreement. In the agreement, the credit interest rate must be stated as an annual interest rate, so it is not sufficient to only have a monthly interest rate specified. Additionally, setup fees and invoice fees may apply.