Loan agreement between private individuals (Greece)

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A Greek private agreement for a loan of money between private persons — relatives, friends, acquaintances: the parties with their AFM tax numbers, the sum in figures and words, how it is paid out, a fixed repayment day or instalments, interest and default interest. The rate is set against the ceiling for loans outside banks (7.90% a year from 16 September 2026), and the 3.6% digital transaction duty is placed on the borrower, payable to the Greek tax authority (AADE) by the end of the following month. Signed by both, it is the document a payment order runs on.

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Common questions

What is the maximum interest on a loan between private individuals in Greece?

From 16 September 2026, 7.90% a year for contractual interest and 9.90% for default interest. The ceilings are not fixed: they move when the European Central Bank's rates change, so check the current figure before signing. Commissions and other charges in the lender's favour count as interest (art. 293 of the Greek Civil Code), anything above the ceiling is not owed, and compound interest cannot be agreed in advance (art. 296).

Who pays the Greek digital transaction duty on a private loan, and by when?

The borrower. Since 1 December 2024 the digital transaction duty has replaced stamp duty: on a loan between private persons it is 3.6% of the sum, is due on interest-free loans too, and is declared and paid electronically to the Greek tax authority (AADE) by the end of the month after the agreement is made (Law 5135/2024, now in Law 5177/2025). The agreement says so expressly, so there is no doubt who owes it.

Why does the Greek loan agreement fix a repayment day?

Because when the day of payment is fixed, a borrower who does not pay is in default as soon as it passes, with no demand needed (art. 341 of the Greek Civil Code), and owes default interest from then on. The signed agreement, with a certain sum and a due date, together with proof that the money was paid out, proves the claim, and a payment order is sought on them (Code of Civil Procedure, art. 623 ff.); since 1 May 2026 the order is issued by a lawyer rather than a judge.

Can a private loan justify the borrower's spending to the Greek tax office?

It can, but the tax office accepts the loan as a source of money only if the agreement is in writing, the digital transaction duty has been paid and the document has a certain date earlier than the spending — for instance through a notary's certification. So sign it and pay the duty before the money is used; paying the sum out through a bank leaves the trail an audit asks for.