Question about the effective annual interest rate

ok... I'm not a fan of [den Bausparern] anyway. I won't do business with them anyway. As I said, we had these account fees of 12 euros/year included, that would be 60 euros/year for nothing with 5 loans, so get rid of it.

Oh.... let's leave the topic of the Bausparvertrag aside...

Here is a great example that you can really burn the ESIS in the wood stove.

Ask the bank twice whether no fire insurance is needed for the house.

I have already done that, no insurance is strictly required at all.

@Bank2: Complete idiots

But do you recognize the problem? In any case, you will take out a residential building insurance. Accordingly, the effective interest rate is absolutely not meaningful, at least for comparison. Bank 2 is significantly more expensive.

Overall, far too many details are missing to be able to make a proper assessment.

According to the forum here, all banks are complete idiots. But unfortunately, I have to go to some complete idiot.

Now you are generalizing a lot. Not all banks and not all advisors, intermediaries, or salespeople are complete idiots. But there are, as everywhere, good and bad, young and old, inexperienced and experienced, fair and unfair, unscrupulous and honest experts.

Now the only question is what kind of person you end up with, and that is, in my opinion, completely independent of the bank or the intermediary.

And then there is bureaucracy, rules, pointless or meaningful conditions, regulations, and laws that simply hover as a framework condition over certain providers or even all providers, completely independent of whether you got a "good" or "bad" counterpart.

PS: I work at a bank.