(1) Where a consumer loan is grantedsuch that, in a contractual relationship concerning a current account, the lender grants to the borrower the right to overdraw their account up to a specific amount (overdraft facility), the lender is to provide to the borrower, at regular intervals, the information evident from Article 247 section 16 of the Introductory Act to the Civil Code (Einführungsgesetz zum Bürgerlichen Gesetzbuche). A right to compensation for early repayment of the loan under section 502 is excluded. Section 493 (3) is to be applied only in case of an increase in the borrowing rate and applies accordingly to an increase in the other costs that have been agreed. Section 499 (1) is not to be applied.
(2) If it is agreed in an overdraft facility taking the form of a general-purpose consumer credit agreement that, after disbursement, the term is at most three months or the lender may terminate without observing a period of notice, sections 491a (3), sections 495, 499 (2) and section 500 (1) sentence 2 are not to be applíed. Section 492 (1) is not to be applied if apart from the interest no further ongoing costs are agreed, the interest is not due at intervals of less than three months, and the lender informs the borrower of the contract’s content on a durable medium no later than without undue delay after conclusion of the contract.