Prepayment penalty / Prepayment interest

Hello Gemeine

Since our condominium is being sold, I received the calculation for the prepayment penalty from the bank on Monday.
However, the detailed invoice was not included. It has been requested.
Now I have run the numbers through various online calculators.
One calculator had an interesting text:
"The calculated prepayment penalty is higher than the interest due until the end of the fixed interest period amounting to 16,800 euros. In our opinion, this is not permissible, so the prepayment penalty is only a maximum of 16,800. However, there is no supreme court ruling on this."

Can someone tell me something about this?
I am already considering consulting a lawyer.

Best regards

The calculated prepayment penalty is higher than the interest still due until the end of the fixed interest period amounting to 16,800 euros. In our opinion, this is not permissible, so the prepayment penalty is only a maximum of 16,800. However, there is no highest court jurisdiction on this.

This is now normal. The legal requirement is to calculate with reinvestment interest rates. Every bank MUST do this, regardless of what they actually do with the money. Consumer protection advocates pushed this through with the legislature. The problem now is that reinvestment rates are negative, and therefore the prepayment penalty can actually be higher than the interest accruing until the end of the term. You can easily recalculate this yourself; it is also listed in the bank’s calculation (reinvestment rates can be checked with the Bundesbank). The lawyer is a waste of time.

yo welcome to reality.

to better understand what wrote.

He misses out on your interest earnings + has to invest the money at negative interest rates.

That means losing twice. Sounds strange but that's how it is.

I am always amazed at what there is.

It's just about a difference of 2200 Euros. But I will then save myself the trip to the lawyer. That also costs a few Euros. Actually, I just wanted to build a house. I only calculated it before with my calculator. Still, thanks for your answers. Best regards

I am always amazed at what there is.

Why? You read in the press that the evil banks are complaining... but woe betide if the account management fee comes. The banks cannot invest customer funds profitably. Everyone is withdrawing from investment banking. Surplus must be parked daily at high negative interest rates at the Bundesbank.