Financing via daily savings account

Hello dear forum,

a completely different plan this time: (at least I hope so)

My financing is basically settled. I have a loan that fixes the interest rate for 15 years. After the 15 years expire, I want to cover the remaining debt with a [Bausparvertrag].

That means I have to save into the [Bausparvertrag] parallel to the loan over the 15 years until it matures. So far so good. The problem with the [Bausparvertrag] is that the balance hardly yields any interest (under 1%).

Therefore my plan: Not to save regularly into the [Bausparvertrag] over the 15 years but instead "park" the money that would normally go there in a [Tagesgeldkonto]. This currently yields over 2% interest. After 14 years and 10 months (or something like that), put all the money from the [Tagesgeldkonto] into the [Bausparvertrag] at once.

Is that possible??

Best regards Christian

That will not work because the [Bausparvertrag] must first be eligible for allocation. However, it will only be if there is capital in it. Why do you even want a [Bausparvertrag] and don't rather repay the loan with the money? That will save you 2.x - 3.x % interest. You have recognized the disadvantage of the [Bausparvertrag] but are not drawing the necessary conclusions.

Just calculated it:

15 years term
Payment 300 per month

Interest gain at 1 % : 4262.71
Interest gain at 2 % : 8930.74
Interest gain at 2.2 % : 9916.45

Makes about €5000 more when comparing 1 % with 2 - 2.2 % !
That's worth it!

Whether this is possible or not probably depends on your contract/provider....

But if you think about what the bank's business is with the [Bausparvertrag], then you will probably notice that the very fact of the low savings interest rates is a significant feature of a [Bausparvertrag]...

If the bank agreed to this, it would basically be giving you a guarantee that it will grant you a loan in 15 years at a very low interest rate.. Why exactly should it agree to that?

A financing arrangement is a completely individual matter, and when I constantly hear only "repay, share, repay" here in the forum, it really gets on my nerves.

For me, other things also matter in financing, not just the lowest interest rate and quick repayment...

Saving up a [Bausparvertrag] in parallel, for example, gives me the security that I can fall back on this money in the absolute and extreme emergency; if I put it into repayment, it's gone. Furthermore, this [Bausparvertrag] gives me the possibility to cover my KfW loan that expires after 10 years. Risk equals zero...
I find it unfortunate that a [Bausparer] is always demonized right away. Of course, I know its disadvantages, but it gives me security, and that counts more for me... you just have to set priorities....

And now to the initial question....
I would definitely sit down with the [Bausparkasse] and work out an individual concept because you don't necessarily have to save monthly. I also strongly doubt if it's possible to pay everything in at once, but I would inquire about that...

Brief info:

I just asked.

There must be a clear increase in savings.
It couldn't be determined exactly over the phone in numbers.
About 60 - 70% should be regularly paid into the [Bausparer].
So about 180 - 210 €, if we assume the initial 300 euros...

Cheers