Overview
- The ruling confirms that common interest-adjustment clauses in older Prämiensparverträge were unlawful, resulting in underpaid interest for many customers.
- The court prescribes Bundesbank long-term yields near 8–15 years as the reference and the Verhältnismethode as the recalculation approach.
- Roughly 3,000 Sparkasse Nürnberg customers from the vzbv model case can now assert claims, while the bank says the outcome changes little for savers.
- Consumer groups urge affected customers to review documents and submit written demands, with templates and hotlines available, as warnings continue about phishing attempts.
- The decision also clarifies contract issues, including the timing of limitation, permissible terminations based on conclusive consent to AGB, and the exclusion of ordinary termination for 99-year terms.