Number format: this calculator uses German notation throughout — a comma is the decimal separator and a dot groups thousands. “1.234,56” means one thousand two hundred thirty-four euros and fifty-six cents. The figures come from German tax law, so they are shown the way German authorities write them.
Overpayment (Sondertilgung)
An extra payment beyond the instalment that reduces the outstanding debt directly.
In plain language
An overpayment is an extra payment alongside the normal instalment. It goes entirely against the debt, not the interest — so it works twice over: the debt falls immediately, and you pay no further interest on the part that is gone for the rest of the term. You can choose whether the instalment stays the same (then you finish sooner) or the term stays the same (then the instalment falls).
In detail
Overpayments are only permitted to the extent the loan contract allows them; 5 % or 10 % of the loan amount per year without an early-repayment charge is common. In the arithmetic the payment is credited against the outstanding debt at the end of the relevant period, before the interest for the following period is calculated. Where the effect is on the term, the annuity stays constant and the number of periods falls; where the effect is on the instalment, the annuity is recalculated for the remaining term. The effective rate under § 16 PAngV does not change as a result — it describes the contractual terms, not individual repayment behaviour.
Worked example
A 300.000 € loan at 3,5 % nominal with 2 % initial repayment: the instalment is 1.375,00 €, the loan runs for 348 months and costs 177.593,08 € of interest. A single 10.000 € overpayment at the end of the fifth year saves 12.576,37 € of interest — because from that point the 10.000 € no longer attracts interest. Applied to the term, the loan ends after 331 months, 17 months sooner; applied to the instalment, the monthly payment falls instead.
In brief
Applied to the term, the instalment stays and the loan ends sooner; applied to the instalment, the payment falls. The annual limit refers to the original amount.
Legal basis: contractual, § 500 BGB · as at 2026