Overview

• The settlement, approved by the Bavarian Supreme Court, concludes years of legal disputes over underpaid interest on premium savings contracts sold between 1994 and 2005.
• Approximately 2,400 affected customers will receive repayments ranging from 0.85% to 8.15% of their accumulated savings, with many payouts expected to reach four-figure euro amounts.
• The repayment calculations are based on a July 2024 Federal Court of Justice ruling that deemed certain interest adjustment clauses unlawful.
• Customers do not need to take any action; the court is notifying them of the settlement, and payments are expected later this year if fewer than 30% reject the agreement.
• This case is part of a broader effort by the Verbraucherzentrale Bundesverband to address miscalculated interest across multiple German banks, setting a precedent for similar disputes.