The higher regional court Stuttgart sees in negative interest rates in a Riester savings plan of the savings bank a contradiction to the basic idea of ​​the old-age provision. The judges therefore forbid the Kreissparkasse Tübingen to use such clauses in their contracts.

The consumer center of Baden-Wuerttemberg had sued, which for its part can no longer claim that the savings bank demands from its customers a negative interest, that is, practically a fee - because that was never the case.

The procedure involved the savings plan "VorsorgePlus" of the Sparkasse, in which a positive graduated rate was offset against a negative variable interest. The result was always positive in the end, no customer had to pay interest.

Since 2015, Kreissparkasse no longer offers the product. The district court of Tübingen had decided both cases the other way round, but both sides had appealed.

Interest rate clause intransparent

The Higher Regional Court judges now decided that such a so-called interest rate sliding clause is intransparent and thus ineffective. It does not fulfill the requirement that the client, without assistance, should be able to clearly and simply ascertain his rights.

In addition, consumers would be unduly disadvantaged, since the possibility of a negative interest with essential principles of the statutory loan arrangements is incompatible, it said. A Riester contract deals with wealth creation and provision for old age. "The saver gets interest, he does not have to pay interest," said Niels Nauhauser of the consumer center Baden-Württemberg. This was clearly clarified by the court.

Consumer Center also convicted

However, the court also found that the Consumer Center in press releases and on its website a false, because deliberately incomplete statement has set up - which they now no longer allowed to spread and must also explain where and to whom she has spread it at the time. In addition, she was sentenced to compensation for possible damages.

The Sparkasse was therefore satisfied with the verdict. "We have never demanded negative interest rates and will not do so in the future," said CEO Christoph Gögler.

Against the decision on the interest clause is still possible revision to the Federal Court. In the case of the press release of the Consumer Center, the court did not allow a revision.

(Az. 4 U 184/18)