Repayment schedule

The Consumer Credit Directive (2008/48/EC) requires every credit agreement to state "the amount, number and frequency of payments to be made by the consumer" (Article 10(2)(h)). When the agreement has a fixed duration and the capital is repaid in installments, the consumer also has the right to receive, on request and free of charge, at any time during the agreement, a statement of account in the form of an amortization table (Article 10(2)(i) and 10(3)). The table shows the payments owing and when they fall due, with each repayment broken down into capital, interest at the borrowing rate and any additional costs. When the rate or the costs can change, the table has to say clearly that its data is valid only until such a change.

Article 11 covers changes in the borrowing rate. The consumer has to be told on paper or another durable medium before the change takes effect, and the notice has to give the amount of the payments after the change and, if the number or frequency of payments changes, those details too.

The Polish Consumer Credit Act follows the same model. Article 30(1) point 8 requires the agreement to state the rules and dates of repayment, including the order in which installments are allocated to the lender's receivables. Article 37 gives the consumer with a fixed-term agreement the right to receive a repayment schedule free of charge, on request, at any time. The schedule shows the date and amount of each installment, broken down into capital, interest and all other costs of the credit, and for agreements with a variable rate or costs it states that the data is valid only until they change. Article 36 requires notice of a rate change on a durable medium before the change, with the new installment amount and the number and frequency of payments if they change.

In the system the schedule is derived data. It is recalculated after every payment, and each version has to stay correct for the whole life of the loan.

The loan system should be the single source. It generates the schedule from the agreement, and the app, the PDF and the accounting all read the same data. When the app calculates installments on its own, the numbers drift from the documents sooner or later.

The schedule has versions. A payment, an early repayment, a payment holiday, an extension or a rate change produces a new version. Keep each version the customer received, with its date, because a complaint or an audit will ask what the customer saw on a given day.

Each installment needs components and a status. The law asks for capital, interest and other costs per installment, so store the components, not just the total. Paid, partially paid, due and overdue need written criteria, and payments have to be allocated in the order the agreement sets. The customer reads those statuses on the repayment screen, so the Pay button should appear only when there is something to pay.

The document is self-service. The customer can ask for the schedule at any time and free of charge, so the app should offer the current version as a PDF without a hotline call. Products with a variable rate or variable costs need the validity note in the template.

Changes to the agreement have their own notice. Under Article 30a of the Polish Act, in force since April 5, 2025, the lender has to give the consumer, no later than 30 days before it changes the terms of a consumer credit agreement, a clear description of the proposed changes with a timetable for introducing them, and information on how to complain to the lender and then to the Financial Ombudsman. When the change is made at the consumer's request, or the consumer agrees to a shorter period, the 30 days do not apply, but the information still has to come before the change. Rate changes under Article 36 follow their own rule. For the system this means a dated record of each notice next to the schedule version it announced.

CCD2 keeps the right to a free amortization table and the notice of rate changes; the CCD2 entry covers its dates and the changes it brings.

In Aasa24, the lending app we have built for Aasa Polska since May 2023, the repayment schedule has been available as a PDF since the first public release in November 2023, and we corrected the schedule PDF in the release month. In 2024 we agreed with Aasa when the app should show an installment as paid, fixed an outdated amount on the installment schedule and removed the Pay button from the repayment screen when there was nothing to pay. In 2025 the calculator, the offer choice and the offer recalculation started to split interest into a first interest installment and the following installments. On the card side we fixed the number of installments shown on the card's repayment schedule and hid inactive installment plans.