Loan agreement (umowa pożyczki)

Published byDocMuse

A Polish agreement for a cash loan between private individuals, family included: the parties with their PESEL numbers, the amount in words, how and when it is paid out, the interest, the repayment date or schedule, late-payment interest and the account for repayment. It explains the tax on civil-law transactions: 0.5% and a return within 14 days, with close family exempt up to 36,120 zł without formalities, and above that only after filing and a bank transfer.

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Common questions

When is a family loan exempt from the Polish tax on civil-law transactions?

A loan from someone in the first tax group — a spouse, parents, children, siblings, parents-in-law, a son- or daughter-in-law, among others — is exempt up to 36,120 zł over 5 years with no return to file. For a larger sum from the closest family, the so-called group zero, the exemption needs a PCC-3 filed within 14 days and the money sent by bank transfer. Without that the tax is 0.5%, and 20% if the loan is only raised during a tax audit.

Does a loan of more than 1000 zł in Poland have to be put in writing?

Yes — a loan above 1000 zł requires documentary form (art. 720 § 2 of the Civil Code), so even an email or message showing the terms and who made them is enough. Without it the loan is still valid but harder to prove in court. Safest is an agreement signed by both parties and payment by bank transfer with a description, which proves both the agreement and that the money changed hands.

What interest can a private Polish loan agreement set?

No more than maximum interest — twice the sum of the National Bank of Poland reference rate and 3.5 percentage points (art. 359 § 2¹ of the Civil Code); anything above it is owed only up to the maximum. For late repayment, at most twice the reference rate plus 5.5 points can be charged. If the agreement sets no repayment date, the borrower repays within 6 weeks of the lender giving notice (art. 723).