Change repayment rate - bank now requires new documents

6,000 EUR will become 10,806 EUR at 4% interest in 15 years. That is called compound interest.

6,000 EUR will become 10,806 EUR at 4% interest in 15 years. This is called compound interest.

However, nowadays that is not called a daily allowance, nor will the OP be able to get out of his debts in 15 years at all.
You can then also present how much he would have paid off in 15 years.
You should be able to follow these simple calculations as well.

First of all, thank you very much for your numerous responses, that helps me a lot!

If I were a bank, I would also become alert in this economic situation. "Normal people" don’t reduce their repayment just for fun, but only due to economic necessities.

Now you invest the "won" 6000€ at 4%... makes a profit of 240€... 240€…!

I was actually only concerned with the blunt interest advantage, because I can make special repayments annually anyway and after 10 years of term you are allowed to make special repayments in unlimited amounts. Clearly, it is not about huge sums saved, but with compound interest and so on, it is not nothing now and it is also not unlikely that the interest rates for overnight money will rise further. Of course, you won’t get rich with it, but it also helps to build up a buffer cushion faster after the new construction phase.

Sure, I understand your point from the bank’s perspective, but they also very openly advertise the free possibility to change the repayment rate and I thought—why not use it if it fits the interest rate situation and sounds so uncomplicated.

Ultimately, I’m not too attached to it either if it ends up causing me more stress or risk. Then I would rather cancel the process and put the genie back in the bottle. What do you think?

I was actually only concerned with the blunt interest advantage,

Do you have an annuity loan? Did you receive an annual statement showing how much you repay each year?

free option to change the repayment rate

That's why my question about the interest corridor. As far as I know, it is not infinitely accessible downwards and upwards.

By the way, I also went through this calculation last month and spontaneously increased the repayment rate after a few calculations ;)

Do you have an annuity loan? Did you receive an annual listing showing how much you repay each year?

That's why my question about the interest rate corridor. As far as I know, it is not infinitely accessible downward and upward.

By the way, I also went through this calculation last month and spontaneously increased the repayment rate after a few calculations ;)

Yes, exactly, annuity loan with constant installments.

So, there are no restrictions for adjustment of the repayment in the terms, but the online banking site itself has a predefined selection list with 1% as the lowest value. And if I can simply click it on the site, it has to be allowed ;)

And if I can just click it on the page, it must be allowed ;)

You must be right there. Regarding your question: in my opinion, cancel!