Short answer: Three numbers in your loan contract decide almost everything: the interest rate (Sollzins), the initial repayment rate (anfängliche Tilgung) and the date your fixed rate ends (Zinsbindungsende). With these three and the loan amount you can work out your monthly payment, your remaining balance when the fixed rate ends, and how exposed you are to a higher follow-up rate.
In short
- Sollzins: the yearly price of the loan, charged on your outstanding balance.
- Tilgung: how much of the loan you repay in year one, as a percentage of the loan amount.
- Zinsbindungsende: the date the agreed rate stops applying. It is a date, not just a number of years.
- Monthly payment = loan × (Sollzins + Tilgung) ÷ 12.
Where to find them
| Number | Usual name in the contract | What it tells you |
|---|---|---|
| Interest rate | Sollzins, Nominalzins | The price per year on your outstanding balance |
| Initial repayment | Anfängliche Tilgung, Tilgungssatz | How much of the loan you repay in year one, as % of the loan amount |
| End of fixed rate | Zinsbindungsende, Zinsbindung bis | The date the agreed rate stops applying |
Look in the loan agreement itself (Darlehensvertrag). The statute defines the Sollzins as the yearly percentage applied to the amount you have drawn, and calls it "fixed" (gebunden) when one or more rates are agreed as fixed percentages for the whole contract term (§ 489 Abs. 5 BGB).
Before you sign a property loan, the lender must give you the standard information sheet (ESIS-Merkblatt) in text form and in good time before you make your declaration (Art. 247 § 1 Abs. 2 EGBGB, on the lender's duty to inform see § 491a BGB). Compare the sheet and the offer with the contract. If a number differs, ask your lender.
What each number does: a worked example
Take an example loan: €372,000, Sollzins 3.00 %, initial repayment 2.00 %, fixed for 10 years.
- Monthly payment: €372,000 × (3.00 % + 2.00 %) ÷ 12 = €1,550.
- Month 1, interest: €372,000 × 3.00 % ÷ 12 = €930.
- Month 1, repayment: €1,550 − €930 = €620. This equals 2.00 % of €372,000 per year (€7,440) divided by 12.
- End of the fixed rate: after 10 years, about €285,360 of the loan is still open (about 77 %). That balance has to be refinanced at whatever rate applies then.
All figures are our own calculation with a constant rate and a constant payment.
Try it with your own contract
Fill in the three numbers and your loan amount. A second example shows how it works:
| Example 2 | Your loan | |
|---|---|---|
| Loan amount | €250,000 | |
| Sollzins | 3.50 % | |
| Initial repayment | 2.00 % | |
| Monthly payment: loan × (Sollzins + Tilgung) ÷ 12 | €250,000 × 5.50 % ÷ 12 = €1,145.83 | |
| Month 1 interest: loan × Sollzins ÷ 12 | €729.17 | |
| Month 1 repayment: payment − interest | €416.67 |
A short checklist of other things in the contract
- the Sondertilgung right: how much per year, on which dates, minimum amount
- the exact date your fixed rate ends
- any commitment fee (Bereitstellungszinsen) and the free period
If a number is missing or unclear
Ask your lender in writing. Do not guess. For legal questions about your own contract your bank can help.
Questions people ask
Where is the date my fixed rate ends?
Is the Sollzins the same as the Effektivzins?
What if a number in my contract differs from the information sheet?
All calculations are for information only and are not financial advice. Terms vary between lenders. Check your own loan contract.
The information in this article is for general information only and is not financial advice. Interest rates and terms depend on your personal situation and change over time. For a personalised offer or interest rate, speak to your bank or your financial adviser.
Related reading
Glossary: Sollzins, Tilgung, Zinsbindungsende, Bereitstellungszinsen, Effektivzins. Related: How a German mortgage works.
Sources
- § 489 Abs. 5 BGB (Sollzins), § 491a BGB, Art. 247 § 1 EGBGB (information before signing), § 16 PAngV (Effektivzins), all checked against the statute text 2026-11-07
- Example figures: own calculation, reference case, constant rate (recomputed 2026-11-07)
- Cover image: AI-generated