Under new rules being prepared by the National Bank of Serbia in line with European Union regulations, consumers will be able to engage an independent adviser before taking out a loan to help them make an informed decision. As a result, they will no longer have to rely solely on advice from the bank offering the loan.
Another significant change concerns the regulation of buy-now-pay-later arrangements, although not those linked to bank-issued credit cards. Instead, the new rules will apply to instalment purchases financed directly by retailers from their own funds.
Credit intermediaries
A new law adopted in March 2023 introduced a number of additional rights for users of financial services. Serbia is now in the process of fully aligning its legislation with European Union directives.
As Bojan Terzić, Director General of the Financial Services Consumer Protection Department at the National Bank of Serbia, explained, consumers have until now been able to receive advice on loans only from banks. The new framework will allow other service providers to offer such advice as well. “Financial leasing providers also advise consumers, but we are introducing the possibility for credit intermediaries independent of banks to provide advice. They will be able to inform consumers and tell them, for example, ‘These are the mortgage offers currently available on the market’,” Terzić told RTS.
He added that there would no longer be any hidden information buried in the small print and that clear advertising rules would be introduced.
Regarding instalment payments, Terzić explained that existing deferred-payment models would remain available but would now be subject to regulation. “The BNPL model (Buy Now, Pay Later) is more widespread in the European Union and is primarily offered in digital form through various online platforms and similar services. The risk lies in what is known as compulsive purchasing. There is no interest rate initially, but if you fail to make payment within the specified period, quite high interest charges can apply. Very often there is also a risk of becoming trapped in a cycle of debt,” Terzić emphasised, citing the sale of mobile phones on instalment plans as an example.
Consumers must be properly informed
Zoran Nikolić, Vice-President of the National Consumer Protection Organisation (NOPS), believes that allowing consumers to engage independent credit intermediaries when taking out loans should bring positive results. “It is a good idea. Any form of competition should bring benefits, but the National Bank of Serbia should continuously supervise their work, just as it does with banks. It is important for consumers to be familiar with all the key parameters so that they can ultimately determine whether a particular offer suits their needs,” Nikolić told Kurir.
According to him, buy-now-pay-later arrangements were introduced in Serbia relatively quietly and without much public attention. However, it is positive that consumers will now have to be clearly informed about the consequences of falling behind on instalment payments.
“With mobile network operators, for example, you can purchase a television on instalments, and it is an excellent option when offered interest-free. Every consumer should welcome such an arrangement because there is no interest, the price is known in advance, and the only expectation is that payments are made on time. When you visit a shop, you will often see two prices — for example, a 10 per cent discount for immediate payment, which effectively means that paying in instalments costs 10 per cent more. That does not apply here. In practice, we have not received complaints regarding the charging of interest on late consumer payments. Overall, it is positive that clear rules will now be introduced and that consumers will be informed that late instalment payments may result in interest charges, with the amount of those charges clearly stated,” Nikolić explained.
(Kurir, 02.06.2026)