According to a communication dated December 15, 2020, the Federal Department of Justice and Police (FDJP) set the maximum interest rate for consumer loans for 2021.
It remains unchanged compared to the previous year:
- Barkredite: 10 % p.a.
- Overdrafts: 12% pa
The refinancing costs of the banks were taken into account to determine the maximum interest rate.
Since the relevant three-month Libor is still in the negative range, the FDJP again had to set the maximum interest rate at the minimum value specified in the VKKG (10% or 12%).
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