The Polish competition authority, UOKiK, has issued a fine of 4.69 million PLN against AS Inbank for its misleading practices regarding linked loans. These loans, which are offered in conjunction with the purchase of specific goods like solar panels and heat pumps, provide consumers with additional rights that AS Inbank failed to acknowledge.

UOKiK President Tomasz Chróstny emphasized that linked loans offer consumers protection by treating the purchase and financing as a single transaction. If a consumer withdraws from the purchase agreement, this withdrawal also applies to the linked loan, allowing them to seek redress from the lender under certain conditions.

AS Inbank had been treating these loans as unlinked, despite the close cooperation with sellers in facilitating the financing process. The authority found that this misclassification misled consumers about their rights and the nature of the loans.

In its communications, AS Inbank claimed that the loan was not linked and that the seller and bank were independent entities. However, UOKiK determined that such statements were deceptive and did not align with the legal framework governing linked loans.

The imposed fines will contribute to the Financial Education Fund, and AS Inbank has the right to appeal the decision within a month.