Repayment Schedule Calculator (Annuity Loan)

Repayment schedule for an annuity loan: interest, repayment and remaining debt per year, special repayments, debt at the end of the fixed-rate period, follow-up rates.

FAQ

How do I create a repayment schedule?

Calculate the monthly payment as loan × (nominal interest rate + initial repayment rate) / 12. Then, for each month: interest = outstanding balance × nominal interest rate / 12; principal repayment = payment − interest; new outstanding balance = previous outstanding balance − principal repayment. The calculator does this for every month and groups the results into years.

How much will I still owe after ten years?

That depends on the interest and repayment rates. For €300,000 at a 3.6% nominal interest rate and a 2% repayment rate, the outstanding balance is around €227,907. With a 3% repayment rate, it would be significantly lower.

Why does the interest portion of my payment fall?

Because interest is calculated each month on the declining outstanding balance. The payment stays the same, so the interest saved goes towards repaying more of the principal.

Is making an overpayment worthwhile?

It reduces the outstanding balance and interest, and shortens the repayment term. However, it requires a contractual right to make overpayments and ties up money that would otherwise be available as a reserve. For rental flats, lower interest also means lower tax-deductible income-related expenses.

What repayment rate makes sense?

Many banks require a minimum of 1% to 2%. At today's interest rates, a 1% repayment rate means a very long repayment term and a high outstanding balance at the end of the fixed-rate period. The right repayment rate depends on the monthly payment you can afford over the long term.

What happens when the fixed-rate period ends?

The outstanding balance is refinanced at the interest rate available at that time, with the same bank or another one. If the interest rate is higher, either the payment increases to maintain the same repayment term, or the term becomes longer if the payment stays the same.

Can I terminate a loan with a 20-year fixed-rate period early?

Yes. Once ten years have passed since full disbursement, you can terminate the loan by giving six months' notice, without an early repayment charge (§ 489 Abs. 1 Nr. 2 BGB).