Overview

• Germany’s Federal Court of Justice on Sept. 23, 2025 (XI ZR 29/24) prescribed how interest must be recalculated on Sparkasse Nürnberg’s long‑running premium‑savings contracts.
• The court set the reference as the Bundesbank series for federal securities with remaining maturities of eight to 15 years (formerly WU 9554), replacing approaches used in lower courts.
• Compared with the Bayerisches Oberstes Landesgericht’s 2024 method using an absolute interest gap, the BGH’s standard generally yields higher back‑interest for many customers.
• Consumers who properly registered for the model declaratory action can now demand recalculation and repayment, with a vzbv template letter available to assert claims.
• The BGH also clarified termination rules: contracts with a 1,188‑month term cannot be ended during that period, while open‑term deals lose the termination bar after reaching the top premium tier at 15 years.