§ 5-10. Fees and charges for credit agreements

The lender cannot demand a fee or other charge beyond what has been agreed with you in writing. The first paragraph refers to § 3-1 fifth paragraph, which says that the service provider (tjenesteyter) cannot charge separately for fulfilling its duties to provide information and notifications. If it has been agreed, it can still charge reasonable fees that correspond to the actual costs of additional or more frequent information, or of providing it in a different way than the law requires.

The second paragraph lists three situations where the lender cannot charge a fee. The first is providing a draft credit agreement. The draft is part of the right to receive a draft agreement and information without obligation before the agreement is entered into, as mentioned in § 3-25. The second is use of the right of withdrawal. The third is notice of termination under § 5-13 or § 5-14.

For the right of withdrawal there is a reservation. The lender can still demand interest and compensation for amounts paid to public authorities that cannot be reclaimed. Under § 3-43, the consumer (forbruker) who withdraws must repay the credit amount with accrued nominal interest rate (nominell rente) within 30 calendar days of the notice of withdrawal. Agreements on additional services connected to the credit agreement are not binding. Example: a consumer withdraws from a credit agreement. The bank cannot charge a fee for the withdrawal itself, but it can demand interest and coverage of expenses paid to public authorities.

The rules on notice of termination supplement this section. Under § 5-13, the customer can terminate the credit agreement at any time, and for consumers the notice period cannot exceed one month. The customer is then entitled to get back a proportionate part of prepaid fees and costs that are payable on an ongoing basis. The lender's own notice of termination in § 5-14 requires objective grounds and a notice period of at least two months towards consumers. The price of the credit is also limited by § 5-7 on usury (åger), and § 5-9 gives the customer the right to a repayment plan on request.