Basic interest rate
In the German credit system, the basic savings rate is the interest rate for savings deposits with a notice period of three months.
General
Originally, the term spare base interest was used for the interest rate that had been regulated in the credit interest ordinance repealed in April 1967 and was 3%. In the earlier Bundesbank interest rate statistics, since May 1967 the average interest rate for savings deposits with a statutory notice period, from July 1993 with a three-month notice period, was referred to as the basic savings rate. The savings deposits with a three-month notice period used for the basic savings interest were referred to as savings deposits with minimum / basic interest from November 1996. Since then, this term has often been used in common parlance for the average interest rate on savings deposits with three-month notice.
In January 2003 the Bundesbank interest rate statistics were replaced by the MFI interest rate statistics of the ECB . This includes the “Savings deposits with three-month notice with minimum / basic interest” (SU0022) in the “Deposits from private households with an agreed notice of up to 3 months” (SUD105). However, this category also includes other related products, including a. also savings deposits for which loyalty and / or growth bonuses are granted. This interest rate is calculated as the volume-weighted average interest rate on the entire savings deposit portfolio at the end of the month.
function
In the interest rate statistics of the Deutsche Bundesbank ("Interest rates and volumes for the portfolios and the new business of the German banks") there is now an indication of an effective interest rate for "deposits from private households with an agreed notice period of up to 3 months". Since the beginning of 2013 it has been below 1%.
In the case of so-called cash deposits within the framework of rental agreements according to Section 551 (3) sentence 1 BGB, it serves as the statutory reference interest rate for the interest on the rental deposit serving as security.
Individual evidence
- ↑ Deutsche Bundesbank, Spareckzins ( Memento of the original from July 9, 2013 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Statistics of the Deutsche Bundesbank
- ↑ Jürgen Sonnenschein, Rent: Handkommentar Sections 535 to 580a of the Civil Code , 2003, p. 276
