Anyone wishing to take out a loan from a bank must of course pay interest in return. How high the interest rate is depends not only on the respective provider, but the type of loan also has a significant impact on it. For example, construction loans are offered at very low interest rates, while customers still have to pay ten percent or more in interest rates on overdraft facilities. However, interest is not always the only cost associated with taking out a loan. In the past, a large number of banks calculated certain fees, most of which were listed as processing fees. After several higher regional courts had already come to the conclusion that such processing fees are not permitted for consumer loans, the Federal Court of Justice recently confirmed this.
Take out a loan with bank fees
In the opinion of the Federal Court of Justice, the estimated processing fees are not permissible in particular because the bank wants to cover costs that in principle have only been incurred so that the credit institution can take advantage of the associated services. For example, the effort for the credit check often falls in the area of processing fees, but only the bank has an advantage from this check, but not the customer. The bottom line is that processing fees are currently not permitted, so customers should not take out a loan for which the bank still requires such fees.
Process fees on past loans
In addition, based on the BGH ruling, customers who have had to pay such processing fees on past loans have the option of reclaiming them. There are already numerous sample letters on the Internet that customers can use to request the processing fees paid from their bank. One thing, however, still leaves the judgment of the BGH open, namely over what past period such a recovery is possible. Experts believe that at least all processing fees paid in the past three to five years can be claimed back by the customer.
Therefore, it makes perfect sense for borrowers to first take a look at whether they have paid processing fees at all. It is often the case that the borrower is not even aware that such fees have been offset against the installments to be paid. If processing fees have been paid, it is highly recommended to object to the payment and to ask the bank to credit the costs incurred.