Reschedule existing instalment loans and sustainably save on interest
13 May 2025
Katrin Straub
Managing Director at nextsure
A loan that you took out years ago may now be burdening you with high interest rates. Through targeted refinancing, you can take advantage of the current low interest rates and regain your financial flexibility. This article provides a step-by-step guide on how to proceed and what to watch out for.
The topic in brief and concise terms
A debt restructuring is worthwhile if the new interest rate is significantly lower than the old one, which can save thousands of euros.
The early repayment penalty for installment loans is legally capped at a maximum of one percent of the remaining debt.
By consolidating multiple loans, you create a single, often lower monthly rate and gain better financial oversight.
Viele Kreditnehmer zahlen für alte Ratenkredite unnötig hohe Zinsen, oft über sechs Prozent. Eine Umschuldung, also die Ablösung eines bestehenden Darlehens durch einen neuen, günstigeren Kredit, ist eine effektive Strategie zur Kostensenkung. Sie können nicht nur Ihre monatliche Rate reduzieren, sondern auch mehrere Verbindlichkeiten zu einer einzigen zusammenfassen und so die Übersicht behalten. Dieser Prozess ermöglicht es, die Vertragskonditionen an Ihre heutige finanzielle Situation anzupassen und langfristig erhebliche Zinskosten zu sparen.
Recognizing Potential: When Debt Restructuring Pays Off
Debt restructuring is particularly sensible when the current loan interest rates are significantly lower than the rate of your old contract. Often, you can save several percentage points this way. An example: With an outstanding debt of €12,000 and a remaining term of 48 months, a reduction in interest from eight to four percent can mean savings of over €1,200. Improved personal creditworthiness since the initial conclusion of the contract can now secure you significantly better terms. Before taking action, you should create a detailed household budget to determine your savings potential. Analyzing your current contracts is the first step towards a noticeable financial relief.
The path to a more affordable loan: A step-by-step guide
The process of refinancing is straightforward and can be completed in four clear steps. Proceed systematically as follows:
Check conditions: Determine the exact outstanding balance, interest rate, and remaining term of your old loan. You can find this information in your repayment plan or inquire directly with your bank.
Calculate early repayment penalty: Find out whether your bank charges a fee for early settlement. This fee is legally capped at a maximum of one percent of the outstanding balance.
Obtain new offers: Compare the terms of different banks for a refinancing loan without obligation. Pay attention to the annual percentage rate.
Have the loan settled: Once the new contract is signed, the new bank usually takes care of the entire process and directly settles the old loan.
A loan from another bank can often offer the best terms. The next significant cost factor is the legally regulated early repayment penalty.
Expert Tip: Minimize prepayment penalties
Banks may charge a fee for loss of interest income when a loan is repaid early. However, the amount of this so-called early repayment penalty is strictly regulated by law for installment loans. It may be a maximum of one percent of the outstanding debt, if the remaining term is more than twelve months. If the remaining term is less, the fee even drops to just 0.5 percent. For an outstanding debt of 8,000 euros, that would be a maximum of 80 euros. Our expert tip: Check your old contract carefully, as sometimes banks waive this fee entirely. With our calculator you can calculate the early repayment penalty online and see if the interest savings exceed the costs. This small hurdle should not deter you from avoiding high interest costs.
Financial Clarity: Consolidate Multiple Loans into One
Often, not just one but several small loans burden the household budget – from overdrafts to credit card statements to zero-percent financing. By consolidating your debts, you can combine these various liabilities into a single, manageable installment loan. Instead of making multiple small payments to different creditors, you pay just one predictable monthly installment. This not only greatly simplifies your financial planning but often also improves your credit score, as you have fewer contractual partners. Consolidation is an effective method to reduce the monthly burden. But what conditions must you meet for this step?
Your benefits at a glance: save on interest, reduce payments, stay flexible
Opting for debt restructuring offers tangible financial benefits that go far beyond mere interest savings. You reduce your monthly installment, giving you new financial leeway every month. At the same time, you gain flexibility, as the new contract often includes better terms such as free special repayments or the possibility of payment breaks. A loan with a long term can further reduce the installment. Consolidating multiple debts also ensures a clear financial overview with only one point of contact. This makes managing your finances simpler and more transparent.
Act now and secure financial freedom
Refinancing an existing loan to sustainably save on interest is not a complicated process but a wise financial decision. You've seen that the potential savings are significant and hurdles such as prepayment penalties remain manageable. Use the current interest advantages to pay off your old, expensive loans and reorganize your finances. Whether you are optimizing a single loan or consolidating multiple loans, the gain in financial control and liquidity is a crucial step towards a more carefree future. Do not hesitate to explore your options.
Request an individual risk analysis now: Have your insurance situation checked for free and receive specific optimization suggestions.
More useful links
Bundesbank offers statistics on interest rates and yields for consumer loans to private households (installment loans).
Bundesbank provides MFI interest rate statistics for stocks and new business.
EZB offers a PDF document on MFI interest rate statistics.
Bundesbank provides a data sheet on consumer loans (installment loans).
Statista offers a study on the interest rate for consumer loans (new business) to private households.
Verbraucherzentrale provides information on loans and mortgages and offers savings tips.
Verbraucherzentrale clarifies about residual debt insurance, which is often expensive and offers little benefit.
Verbraucherzentrale Schleswig-Holstein calls for a legal cap on overdraft interest rates in a press release.
FAQ
Was kostet eine Umschuldung?
Die Umschuldung selbst ist meist kostenlos. Die einzige potenzielle Gebühr ist die Vorfälligkeitsentschädigung für die vorzeitige Ablösung des Altkredits. Diese darf bei Ratenkrediten aber höchstens ein Prozent der Restschuld betragen, wenn die Laufzeit noch über einem Jahr liegt, und 0,5 Prozent bei einer kürzeren Restlaufzeit.
Kann ich bei einer Umschuldung den Kreditbetrag aufstocken?
Ja, das ist ein häufiger Anwendungsfall. Im Rahmen einer Umschuldung können Sie einen höheren Kreditbetrag aufnehmen, um nicht nur den alten Kredit abzulösen, sondern auch zusätzlichen finanziellen Spielraum für neue Anschaffungen zu schaffen.
Lohnt sich eine Umschuldung auch bei kleinen Krediten?
Auch bei kleineren Kreditsummen kann sich eine Umschuldung lohnen, insbesondere wenn der alte Zinssatz sehr hoch ist (z.B. bei Dispokrediten). Die prozentuale Ersparnis ist oft erheblich. Rechnen Sie genau nach, ob die Zinsersparnis die geringe Vorfälligkeitsentschädigung übersteigt.
Welche Unterlagen benötige ich für eine Umschuldung?
Sie benötigen in der Regel die letzten drei Gehaltsnachweise, Ihre Kontoauszüge, eine Kopie Ihres Arbeitsvertrags, den bestehenden Kreditvertrag sowie eine Ablösebescheinigung Ihrer alten Bank, aus der die genaue Restschuld hervorgeht.
Was passiert nach dem Antrag auf Umschuldung?
Nachdem Sie den neuen Kreditvertrag unterschrieben und sich legitimiert haben, zahlt die neue Bank die vereinbarte Summe direkt an die alte Bank, um den Kredit abzulösen. Sie zahlen fortan nur noch die neue, niedrigere Rate an Ihren neuen Kreditpartner.
Kann ich auch umschulden, wenn meine Bonität nicht perfekt ist?
Eine Umschuldung ist auch mit einer nicht perfekten Bonität möglich, allerdings sind die Zinskonditionen dann eventuell weniger vorteilhaft. Das Zusammenfassen mehrerer Kredite kann die Bonität aber langfristig sogar verbessern, da es Ihre finanzielle Situation ordnet.
