Early repayment compensation for building savings contract?

I have to terminate my building savings contract early - will a prepayment penalty then be due?

cu

Hello S. Andrey,

if you terminate your building savings contract in compliance with the notice period (3-6 months), no prepayment penalty should be charged.

Only in the case of immediate termination will the building society charge a fee for this.

If in doubt, just call your building society once and ask or check the General Building Savings Conditions, which you should have received upon conclusion.

Best regards M. Thiemann

Hello, a building savings contract is not a loan agreement, so no prepayment penalty! However, the contract fee is lost upon termination!

best regards