Highest judge's decision on premium savings contracts expected

Highest judge's decision on premium savings contracts expected

Interest calculation for premium savings contracts - Effects on consumers

On Tuesday, negotiations will be made at the Federal Court of Justice in Karlsruhe on the interest calculation for premium savings contracts. These contracts include an additional premium next to the variable interest, which is often staggered dependent on the term. Many such contracts contain clauses that give banks the right to change the interest unilaterally. This was declared illegal by the BGH 20 years ago, but the precise calculation of the interest remains.

The consumer center Saxony and the Federal Association of Consumer Centers now want to clarify through model declaratory action against two savings banks. They strive to have the reference interest rate for the interest rate adjustments set. Consumer advocates expect a decision by the Karlsruhe judges on the same day.

This is an important step for consumers to ensure transparent and fair interest conditions for savings contracts. The decision of the BGH could not only influence the affected customers of the savings banks, but also have a pioneering effect for similar cases in the future

- Nag