the General conditions of the loan are a binding contractual document for both lender and borrower and are therefore, in addition to the credit agreement, another important document for anyone who has a Credit or loan records. They are comparable with the General Terms and Conditions (GTC) of online stores. In the general loan terms and conditions, lenders such as BMW Bank, savings banks, building societies and other lenders regulate the Relationship between lender and borrower shape.
3 Essential Elements of the General Loan Conditions: Possibilities of unscheduled repayment, notice periods, or penalties that apply in the event of late installment payment become due.
Borrowers receive the general loan conditions together with the loan agreement. When borrowers sign the loan agreement, they accept the general loan conditions by checking the appropriate box.
General terms and conditions of the loan: Example
What you can learn here
The General Loan Terms and Conditions state, for example, what happens if the borrower does not pay his installments on time. But also how a early repayment of the loan is governed by the General Terms and Conditions of the loan. In addition, the regulations also contain provisions on the Right of termination and describes to what extent special repayments are possible.
What is the difference between a loan and a credit
A loan agreement is only valid when the money is paid out. A loan agreement, on the other hand, is valid even before that: here, the debt relationship already exists when the borrower and lender sign the agreement, even though the money has yet to be paid out.

The General Terms and Conditions of the Loan do not contain any loan conditions
The General Loan Conditions are general in nature and therefore do not contain the specific terms and conditions of the loan. The conditions of a loan include all direct financial agreements of the loan contract, such as interest rate or the Redemption value while the General Loan Terms and Conditions define the contractual terms of the loan. By signing the loan agreement, one agrees to these conditions. However, it is usually possible to use the right of withdrawal and cancel the contract within 14 days of signing it.
People's Bank
The Volksbanks do not have uniform general loan conditions. You can obtain the current version from your branch. However, many Volksbanks have also published their general loan conditions online.
BMW Bank
BMW Bank describes the "Basic Rules for the Relationship between Customer and Bank" in the General terms and conditions. This document complies with the General Loan Terms and Conditions at BMW Bank and is available online. The General Terms and Conditions of the BMW Bank AGB contain the following sections:
- Basic rules for the relationship between customer and bank
- Account management
- Cost of banking services
- Cooperation obligations of the customer
- Collateral for the claims
- of the bank against the customer
- termination
- deposit insurance
- Ombudsman procedure