Amortization Calculator: Repayment Plan, Payment & Remaining Debt
Calculate your personal repayment plan: free, up to date for 2026 and instant, with an interactive interest-vs-repayment chart. Monthly payment, remaining debt after the fixed-interest period and total term at a glance.
Last updated: February 2026
Enter a loan amount to calculate your personal amortization schedule instantly.
What is an annuity mortgage (Annuitätendarlehen)?
An annuity mortgage (Annuitätendarlehen) is the most common form of property financing in Germany. Its defining feature: the monthly payment (the annuity) stays constant over the entire fixed-interest period.
The payment is made up of an interest share and a repayment share. At the start the interest share is high and the repayment share is low. With every payment the remaining debt falls, so the interest share shrinks and the repayment share grows. Even so, the monthly payment stays the same.
Example: For a €300,000 loan at a 3.5% nominal interest rate and a 2% initial repayment rate, the monthly payment is €1,375.
How the amortization calculator works
- Enter the loan amount : the financing amount (purchase price minus equity) or pick one of the suggested amounts.
- Set the nominal interest rate : use your bank's current rate or the market average.
- Choose the initial repayment rate : recommendation: at least 2%, ideally 3%.
- Select the fixed-interest period : 10 years is the standard in Germany.
- Optional: add an annual extra repayment : to see the effect on the term and interest costs.
- Read the result : monthly payment, remaining debt, amortization schedule and charts.
All results update instantly, with no need to click a "Calculate" button.
Initial repayment rate: how high should it be?
The initial repayment rate (anfängliche Tilgung) determines how fast the loan is paid off. The higher the repayment rate, the shorter the term and the less interest you pay overall. Here is a comparison for a €300,000 loan at a 3.5% nominal interest rate:
| Initial repayment | Monthly payment | Total term | Total interest |
|---|---|---|---|
| 1% | €1,125 | ~46 years | ~€320,000 |
| 2% | €1,375 | ~28 years | ~€162,000 |
| 3% | €1,625 | ~21 years | ~€107,000 |
| 4% | €1,875 | ~16 years | ~€76,000 |
Recommendation: At least 2%, ideally 3%. Every additional percentage point shortens the term considerably and saves tens of thousands of euros in interest. At today's ~3.5% rates, what matters is striking a balance between an affordable payment and sensible repayment.
Nominal vs. effective rate: the key difference
Nominal interest rate (Sollzins): The pure interest the bank charges on the loan. This figure is fixed in the loan contract and is the basis for calculating the payment.
Effective annual rate (Effektivzins): Additionally reflects the cost arising from paying within the year (monthly rather than annually). The effective rate is required by law under the German Price Indication Ordinance (PAngV) and is always somewhat higher than the nominal rate.
Simple formula: Effective rate ≈ (1 + nominal rate / 12)¹² − 1. Example: a 3.50% nominal rate → approx. 3.56% effective rate.
When comparing offers from different banks, the effective rate is the better benchmark because it includes all loan costs.
Remaining debt after the fixed-interest period: what then?
At the end of the fixed-interest period (typically 10 or 15 years), the loan is usually not yet fully repaid. The remaining debt has to be refinanced through follow-up financing (Anschlussfinanzierung) at the market rates applicable at that point.
Interest-rate risk: If rates rise by the end of the fixed-interest period, the new payment is higher; if they fall, it gets cheaper. The lower the remaining debt, the smaller the risk.
Options: extension with the same bank (Prolongation), switching to another bank (Umschuldung), or a forward loan (Forward-Darlehen) that locks in a rate up to 5 years in advance.
Worked example: a €300,000 loan at 3.5% interest and 2% repayment → after 10 years approx. €232,000 remaining debt (only ~23% repaid).
Recommendation: A higher repayment rate or regular extra repayments significantly lower the remaining debt and thus the interest-rate risk.
Extra repayments: how to save thousands of euros in interest
An extra repayment (Sondertilgung) is an additional payment alongside the regular monthly payment that reduces the remaining debt directly. Most banks allow annual extra repayments of up to 5% of the original loan amount, free of charge and without an early-repayment penalty.
Worked example, with vs. without extra repayments:
Without extra repayments
With €5,000 / year
Use our calculator above and try different extra-repayment amounts to see the effect on your term and total interest.
Fixed-interest period: how long should it be?
5 years: Lowest rate, but high interest-rate risk. Only worthwhile if you plan to pay the loan off early.
10 years: The most popular choice in Germany. A good balance of rate and security. Plus: the statutory termination right under § 489 BGB.
15 years: More security at a slightly higher rate. Increasingly chosen.
20–30 years: Maximum planning certainty, but a noticeable rate premium.
§ 489 BGB: statutory termination right
After 10 years of a fixed-interest period, any borrower can terminate the loan with 6 months' notice, regardless of the agreed fixed-interest term. No early-repayment penalty applies. This also holds for 15-, 20- or 30-year fixed-interest periods.
Current rate ranges (February 2026): 5 years ~3.2–3.6% | 10 years ~3.5–3.85% | 15 years ~3.7–4.0% | 20 years ~3.9–4.3%.
Worked example: amortization schedule for €300,000
A concrete calculation: a €300,000 loan, 3.50% nominal interest, 2% initial repayment, a 10-year fixed-interest period, without extra repayments.
The mini amortization schedule shows how the interest and repayment shares shift over the years:
| Year | Interest share | Repayment share | Remaining debt |
|---|---|---|---|
| 1 | ~€10,325 | ~€6,175 | ~€293,825 |
| 2 | ~€10,107 | ~€6,393 | ~€287,432 |
| 3 | ~€9,882 | ~€6,618 | ~€280,814 |
| 4 | ~€9,649 | ~€6,851 | ~€273,963 |
| 5 | ~€9,408 | ~€7,092 | ~€266,871 |
| 10Fixed period | ~€8,144 | ~€8,356 | ~€232,000 |
| 20 | ~€4,747 | ~€11,753 | ~€130,000 |
| 28 | ~€530 | ~€15,970 | ~€0 |
Values rounded for illustration. Use the calculator above for the exact calculation.
Frequently asked questions about the amortization calculator
Based on the loan amount, interest rate and repayment rate, an amortization calculator works out your monthly payment, the full amortization schedule and the remaining debt after the fixed-interest period. You can see exactly how the interest and repayment shares change over the term and how much interest you pay in total.
The formula: annual annuity = loan amount × (nominal interest rate + initial repayment rate) / 100. The monthly payment is the annual annuity divided by 12. Example: €300,000 at 3.5% interest and 2% repayment → €300,000 × 5.5% = €16,500 per year → €1,375 per month.
At least 2%, ideally 3%. With a 1% repayment rate, the payoff takes over 45 years and you pay more than the loan amount in interest. Every additional percentage point of repayment shortens the term considerably: at 3% instead of 1%, the total term is roughly halved.
The nominal interest rate (Sollzins) is the pure loan interest. Your payment is calculated on this basis. The effective rate (Effektivzins) additionally reflects the impact of paying monthly (rather than annually) plus other loan costs. It is required by law (PAngV) and is always slightly above the nominal rate. For comparing banks, the effective rate is the better yardstick.
The remaining debt is the amount still outstanding at the end of the agreed fixed-interest period (e.g. after 10 years). For a standard loan (€300,000, 3.5% interest, 2% repayment, 10-year fixed period), the remaining debt is still around €232,000. You need follow-up financing for this amount at the market rates applicable then.
An annual extra repayment (Sondertilgung) reduces the remaining debt directly. This shortens the total term and lowers the total interest considerably. Example: with €5,000 of extra repayment per year on a €300,000 loan, you save around €44,000 in interest and are debt-free roughly 6 years sooner. Most banks allow up to 5% of the loan amount per year free of charge.
You need follow-up financing for the remaining debt. Three options: (1) extension (Prolongation): continuing the contract with your current bank; (2) refinancing (Umschuldung): switching to a cheaper bank; (3) a forward loan (Forward-Darlehen): locking in a rate up to 5 years before the period ends. Important: the new payment depends on the interest level applicable at that time.
Under § 489 BGB, any borrower can terminate the loan after 10 years of a fixed-interest period with 6 months' notice, regardless of the originally agreed fixed-interest term and without an early-repayment penalty. This also applies to 15-, 20- or 30-year fixed-interest periods.
An annuity mortgage is a loan with a constant monthly payment over the entire fixed-interest period. The payment consists of an interest share and a repayment share. At the start the interest share is high; with every repaid instalment it falls and the repayment share rises accordingly. It is by far the most common type of loan for property financing in Germany.
Yes, many banks offer a so-called repayment-rate change (Tilgungssatzwechsel), often once or twice during the fixed-interest period and frequently free of charge. This lets you increase the repayment rate (e.g. after a pay rise) or lower it (e.g. during parental leave). The details depend on the loan contract. Ask your bank before signing.
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