A new legislation aiming to protect consumers from abusive practices in relation to loans of up to 100,000 euros has been prepared by the Development Ministry.
“This legislation puts an end to hidden clauses and irregular practices,” Prime Minister Kyriakos Mitsotakis announced on Monday, May 4, 2026.
The legislation introduces a cap on the total repayment amount of consumer loans, limiting it to between 30%-50% above the amount borrowed-broadly in line with the European average.
According to media, the legislation excludes mortgages and refers to consumption loans or credit card debts.With the new bill, the total repayment of a loan of 10,000 euros is expected to be 13,000 to 15,000.
There will be no retroactive implementation but it’s thought for loans to be signed after the bill is approved by the Parliament.
More details are due after the legislation is uploaded for public consultation.
It should be noted that Greece has be obligated to implement such a legislation following a European Union directive.
