Variable temporal repayment options

at Ing-Diba you can pay off at least 1250 euros several times a year, up to a total amount of 5% of the loan.

Best regards
Sabine

The statement is nonsense! Please research beforehand if you come up with such statements. 1 * per year at least 1,250 € maximum 5% of the original loan amount (e.g. 200k taken = 200*5% = 10k per year)

Special repayments are free of charge at Ing-Diba once per year and cannot be carried over to the following year. If you do not make a special repayment in one year, it cannot be made up for in the following year. Special repayments reduce the total term of your loan with a constant loan rate.
If you wish to change your monthly rate in connection with the special repayment, please inform us accordingly. Please submit the completed form for this purpose.

The statement is nonsense! Please research first before making such statements. 1 * per year at least €1,250 maximum 5% of the original loan amount (e.g. 200k taken out = 200*5% = 10k per year)

Special repayments are possible once a year free of charge with Ing-Diba and cannot be carried over to the following year. If you do not make a special repayment in one year, it cannot be made up in the following year. Special repayments reduce the total term of your loan if the loan rate remains constant.
If you wish to change your monthly rate as part of the special repayment, please inform us. Please submit the completed form for this purpose.

At least that’s how I have done it in recent years, it worked and it didn’t cost anything!

Best regards
Sabine

In my contract it states: "You are entitled to make early repayments of up to 5% of the loan amount once per calendar year. The minimum amount per payment is 1250 Euro." Maybe the once per year refers to the 5%? Regards Sabine

Once a year you can prepay a maximum of 5% of the original loan amount, with the payment needing to be at least 1250 euros. So, no multiple times.

Flexibility costs money. More flexibility costs more money or is riskier.

With a loan with a variable interest rate, you can repay as much as you want at any time (with 3 months' notice). However, you then bear the full interest rate risk. If you want the bank to bear this interest rate risk but at the same time remain absolutely flexible with your repayments, the bank charges this risk premium (option premium) in the form of an interest rate surcharge. The more risk, the higher this premium.

I think that is a rumor that you 1 did it multiple times and 2 didn’t notice it. Possibly due to the mass business. If I were you, I would be happy and keep quiet. The bank might now possibly demand a prepayment penalty ;)