The base rate remained unchanged at a low level. The basic interest rate is charged by the Deutsche Bundesbank according to section 247 (1) BGB (German Civil Code) calculated and published. He can go to the 01. January or 01. July of each year. It is the basis for the amount of default interest according to section 288  (1) sentence 2 BGB.

The default interest is then unchanged for the period from 01.01.2017 in the case of legal transactions

With consumer participation: 4.12%
without consumer participation: 8.12%

Consumer participation is given when the legal transaction (e.g. Contract) cannot be attributed to a commercial or self-employed professional activity – that is, purely private origin (cf. section 13 BGB).

More information on the base rate of interest on the pages Basiszinssatz.de.

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