When banks can not earn more because of lower interest rates so much, you may then premiums saving contracts terminate that cost you much? From the point of view of the Supreme court - but only under conditions.
kreissparkasse Stendal, in Saxony-Anhalt had terminated customers-savings contracts, which were completed in 1996 and in 2004, at attractive conditions. The maximum possible yield of 50 per cent on the paid-in Savings premiums was 15. Year after the conclusion of the contract reached.
a Long phase of low interest rates as a reasonThe General terms and conditions saw that after the savings Bank may - without a fixed maturity closed - the contract terminate. So she did it, with explicit reference to the low interest rate environment.
the Bank could also, if appropriate, decided by the Federal court of justice (BGH), whose spokeswoman Dietlind Weinland: "The Federal court looks at the long-lasting phase of low interest rates as a proper reason for termination."
The judgment is for savers, good news and bad news. The good: A credit institution may not terminate a premium savings contract before Reaching the highest reward level. Otherwise, could deprive the Bank of the customer at any time to claim the savings premiums with a special bonus incentive.