Monthly payment, true cost (effective annual rate (effektiver Jahreszins)), fixed or variable rate risk and how much you can afford, with the rules that apply in Germany.
Quick answerIn Germany, a mortgage of 350,000 EUR over 30 years at 4.1% costs about 1,691.19 EUR per month. You pay 258,830 EUR in interest over the term. Always compare offers by the effective annual rate (effektiver Jahreszins), not only by the interest rate.
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PrincipalInterestFees
If the interest rate rises
Repayment by year
Popular questions
How much will my monthly loan payment be in Germany?
For a mortgage of 350,000 EUR over 30 years at 4.1%, the monthly payment is about 1,691.19 EUR. Change the amount, term and rate in the calculator above to see your own payment.
What is the effective annual rate (effektiver Jahreszins) and why is it higher than the interest rate?
The effective annual rate (effektiver Jahreszins) includes fees and required costs on top of interest. In our example with typical fees the effective annual rate (effektiver Jahreszins) is 4.18% while the nominal rate is 4.1%. Compare loans by the effective annual rate (effektiver Jahreszins) and by the total amount you repay.
Fixed or variable rate: which is better in Germany?
Most German mortgages are fixed for 10 to 15 years, so the payment does not move until the fixed period ends. The risk is the refinancing rate afterwards. Variable loans follow Euribor, about 3% in October 2026. If rates rose by 2 points, the payment in our example would go up to 2,120.98 EUR. A fixed rate protects you from that risk, a variable rate can be cheaper when rates fall.
How much can I borrow in Germany?
German banks usually expect your total loan payments to stay below about 35% to 40% of net household income, and they want at least 10% to 20% of the purchase price from your own savings to cover purchase costs. Enter your income in the calculator to check your ratio.
Loans in Germany right now
German mortgages (Baufinanzierung) are usually fixed for 10 to 15 years, with an agreed repayment rate of 2% to 3% a year. After the fixed period you refinance the remaining balance at the rates of the day. Every offer shows the nominal rate (Sollzins) and the effective annual rate (effektiver Jahreszins), which includes costs that the bank requires.
10 year fixed mortgages cost about 4.0% to 4.5% in October 2026. Personal loans (Ratenkredit) average about 6.2%.
After 10 years you can always end a mortgage with six months' notice (section 489 BGB), whatever the fixed period.
Consumer loans can be repaid early at any time, with a fee of at most 1%, or 0.5% in the last year.
A rate that is about twice the market average, or 12 points above it, can be void as usury (Wucher).
Understand your loan before you sign
1
What the effective annual rate (effektiver Jahreszins) tells you
The nominal interest rate only covers interest. The effective annual rate (effektiver Jahreszins) adds the fees and costs you must pay to get the loan, such as processing fees, account fees and required insurance, and turns everything into one yearly percentage. Two loans with the same interest rate can have very different effective annual rate (effektiver Jahreszins). When you compare offers for the same amount and term, the lower effective annual rate (effektiver Jahreszins) is usually the cheaper loan.
2
Fixed or variable rate
A fixed rate keeps your payment the same for an agreed period, so you know exactly what you pay. A variable rate is a reference rate (for example Euribor) plus the bank's margin. It is often lower at the start, but your payment rises when the reference rate rises. Use the stress test above to see your payment if rates go up by 1, 2 or 3 points, and only choose variable if you could still pay that.
3
Equal payments or equal principal
With equal payments (annuity) the monthly amount stays the same, and at the start most of it is interest. With equal principal the first payments are higher but fall every month, and you pay less interest in total. Switch the repayment option in the calculator to see the difference.
4
The full cost of borrowing
Look beyond the monthly payment. Add up interest, upfront fees, monthly account and insurance costs, valuation and notary costs. A longer term lowers the payment but increases the total interest a lot. The line "cost per 100 borrowed" shows how much you pay for every 100 you borrow.
5
Early repayment
Paying off part of the loan early saves interest. Many countries limit what banks may charge for it, and variable-rate loans can often be repaid without a fee. Read the early repayment clause before you sign.
Checklist before you sign
Compare at least three offers for the same amount and term.
Compare the effective annual rate (effektiver Jahreszins) and the total amount to repay, not only the interest rate.
Check what happens to a variable rate if the reference rate rises by 2 to 3 points.
Keep your monthly payments well below the affordability limit and keep savings for emergencies.
Ask which insurance is mandatory and how much it costs.
Read the early repayment terms and any fees for changing the loan.
Example payments
Typical mortgage at today's average rate, equal monthly payments, without fees. Interest rate: 4.1%.
Amount
Term (years)
Monthly payment
Total interest
250,000 EUR
25
1,333.44 EUR
150,031 EUR
350,000 EUR
30
1,691.19 EUR
258,830 EUR
450,000 EUR
30
2,174.39 EUR
332,781 EUR
Frequently asked questions
Can I repay my loan early in Germany?
Personal loans can be repaid early at any time, with a fee of at most 1% (0.5% in the last year). For mortgages the bank can ask for compensation (Vorfälligkeitsentschädigung) during the fixed period, but after 10 years you can always end the loan with six months' notice.
What interest rates are typical in Germany right now?
In October 2026 10 year fixed mortgages in Germany cost about 4.0% to 4.5%, depending on your deposit and the length of the fixed period. Personal loans average about 6.2%, with the best offers below 5% for good credit.
Is this an official loan offer?
No. It is an educational calculator. Your bank sets the final rate and costs. Use the results to understand and compare offers, and ask for the official pre-contract information before signing.
Sources and disclaimer
This page is educational. Rates are examples based on central bank statistics and published offers in October 2026, and your bank will price your loan individually. Always compare the official offer document (ESIS or standard information form) before you sign.