Special repayment at KfW or rather the finance bank?

Hello everyone,

in 2016, we took out a loan for our house construction. (KfW Efficiency 55),

Once with the KfW refinancing "Energy-efficient Building (153), 10 years term (term until 30.11.2036), 100,000€,
Nominal interest rate 1.500 % (Eff. 1.530%)
Repayment 2.75459 %
The loan is to be fully repaid by 30.11.2046.
Monthly rate is 354.55€
expected loan term 29 years and 1 month with constant interest rates
Unfortunately, I have no information about the remaining debt. Only when requesting a special repayment from the bank, I received a small Excel list showing a remaining balance of 32,929.10€.

Here are the first questions.
As far as I remember, we have a term of 10 years with KfW, so why does it say until 30.11.2036, i.e., 20 years fixed interest rate?

And the second, more important question regarding special repayment, the contract states the following:
"....the borrower is entitled, on the last day of each calendar month, to early, partial or full repayment of the loan subject to compliance .... with a notice period of 10 banking days. Extraordinary partial repayments are generally credited to the last installments due according to the repayment plan..."
What exactly can I understand from this? There are no more 10 banking days this year. So, can I not make a special repayment?

And the second loan runs via Hypovereinsbank, interest rate fixed for 20 years until 30.09.2036
Financing amount: 265,000€
Nominal interest 1.65000% (Eff. 1.68%)
Repayment 2.5000%[/B]
Monthly rate: 916.46€
Remaining debt: According to the original plan, 107,378€, but according to this Excel file, we are (starting to pay later) 15k behind, namely at 124,028€
Expected loan term 30 years and 9 months with constant interest rates
Special repayment once yearly on 31.12. up to 13,250€ possible

So, now I need your help and I hope I didn’t forget anything.

We want to make about 7,000 - 11,000€ special repayment.

Where do you think it makes more sense?
The bank says for the smaller amount, meaning KfW.
I say, sure they say that, then there is more remaining debt with them, from which they earn more money ;-)

But what do you say?
Special repayment rather at KfW or rather at the finance bank?[/B]

As far as I remember, we have a term of 10 years with KfW, so why does it say until 30.11.2036, i.e. 20 years of fixed interest rate?

Term is something different than fixed interest rate period. I can’t say why it says that for you, as I don’t know the contracts.

And 2. more important question regarding the special repayment, the contract states the following:
"....the borrower is entitled, on the last day of each calendar month, to early, partial or full repayment of the loan subject to .... a notice period of 10 banking days. Extraordinary partial repayments will generally be credited towards the installments that are due last according to the repayment schedule..."
What exactly can I understand from that now? There are no 10 banking days left this year anymore. So can I not make a special repayment?

If KfW doesn’t cooperate, no special repayment with KfW. It’s right there. What does your bank say? Will they accept the money for KfW?

I say, sure they say yes, then there remains more residual debt with them, with which they can earn more money again ;-)

The bank earns from both loans. Maybe even more with KfW than with their own loan.

In the end it almost doesn’t matter where you repay, since the interest rates are approximately the same. It’s a tiny bit more worthwhile to repay the bank loan than the KfW financing.

Unless the KfW cooperates, no special repayment with the KfW. It says so there. What does your bank say? Does it accept the money for the KfW?

The bank writes the same, partial repayments are always possible with a notice period of 10 banking days.

But what does this sentence mean: Unscheduled partial repayments are generally applied to the installments last due according to the repayment schedule...

Speculation on my part:
Through the special repayment, the term is reduced (but not the installment) and already made special repayments cannot be used to temporarily suspend the installments in case of later "cash shortage."

Theoretically, however, one could also interpret it in such a way that the last installments are eliminated due to the special repayments made, but the interest is not reduced until then.
In times of negative interest rates, that would be free parking of money :)

But what does this sentence mean: Early partial repayments are generally credited against the installments due last according to the repayment schedule...

That the term is shortened. Nothing more. Interest is still charged on the reduced amount. If it were done differently, there would be, for example, an installment adjustment with an unchanged term.

It doesn't really matter now, since the special repayment potential in the old KFW 153 lies in the unlimited repayment option and in the fact that through early repayment you can decide whether to apply the freed-up €368 repayment including interest to the main loan or simply have €368 more to live on.

That’s why loans are also split. Otherwise, you could have just taken a large loan.