This has already been discussed with the bank by phone today, whereby this willingness was also signaled with the words "We will calculate it as soon as you have made a final decision on this." As a profit-oriented company, they have certainly already prepared the calculation as well.As you already said, you do not have any right to terminate, so any further considerations are obsolete without the bank's willingness.
The question here is whether the fastest possible repayment is really the best option. Purely from the perspective of financial maximization, there is little reason to make special repayments on the low-interest loans as long as you get a fixed interest rate multiple times higher. Now the real person is not a Homo Oeconomicus and some feel more comfortable without debt, even if they pay a few euros extra for it.Between 5 years and 10 years investment duration there are only a few 0.x % difference and of course I want to get rid of the monthly "burden" as soon as possible to make the money available for the house loan. Here the interest rate is 1.3% which is why I naturally want to repay the land loan first.
This has already been discussed with the bank by phone today, whereby they also signaled their willingness with the words "We will calculate this as soon as you have made a final decision on it." As a profit-oriented company, they have certainly already started the calculation as well.
that's weird, does the calculation itself cost anything?
Otherwise, I tend towards immediate repayment. It is only psychologically more sensible. Money in the account leads to all sorts of nonsense^^
You will have to pay capital gains tax, possibly solidarity surcharge and church tax, on the capital gains exceeding the allowance. It would be important to fully utilize the annual allowance, i.e. you want a fixed deposit with annual interest payouts and not the entire yield at the end of the term.Does it even make sense to repay the loan early or is it better to invest the money at the bank for 5 years at a fixed 3.2% (then the first right of termination exists - after 10 years)? Due to joint assessment, there is a double allowance for capital gains tax and there are no other interest earnings otherwise. I can't shake the feeling that I am forgetting something (serious) in the calculation, which is why I am asking the question here.