fixed borrowing rate
Defined in Article 3, Directive (EU) 2023/2225 (CCD2)
Definitions over time (1)
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19/11/2023 – today applies on 12/11/2026 Article 3, Directive (EU) 2023/2225 (CCD2) Scope: Whole act
For the purposes of this Directive, the following definitions apply:
‘fixed borrowing rate’ means the borrowing rate that the creditor and the consumer agree on in the credit agreement for the entire duration of the credit agreement, or several borrowing rates that the creditor and the consumer agree on in the credit agreement for partial periods for which the borrowing rates are determined exclusively by a fixed specific percentage; if not all borrowing rates are determined in the credit agreement, the borrowing rate shall be deemed to be fixed only for the partial periods for which the borrowing rates are determined exclusively by a fixed specific percentage agreed on the conclusion of the credit agreement;