What does a minimum payment do
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The regular savings contribution is the monthly building society contribution. It is based on the amount of the Bauspar sum (certain percentage rate of the Bauspar sum depending on the building society and the building society tariff).
The amount of the regular savings contribution is shown both in the home loan savings application and in the general terms and conditions for home loan and savings contracts (ABB).
In principle, the saver can deviate from this amount. A lower savings contribution, but also a higher savings contribution, can be paid. This depends both on the personal financial situation of the building society saver and on his desire for a building society loan. If the building society saver wants his home loan and savings contract to be allocated as early as possible, he should pay at least the stipulated standard contribution. Services that exceed the regular contribution may also be provided here.
However, the acceptance of these payments is subject to the approval of the building society (see also Can a building society refuse a special payment or does a special payment on my building society loan require approval?). If building societies generally refuse payments above the regular contribution in certain tariffs, they must notify BaFin of this in advance.
If a lower contribution than the standard contribution (or no payment at all) is made, building societies have regularly accepted this saving behavior in the past. However, due to the reduced savings, the allocation of the home loan and savings contract was sometimes significantly delayed. However, the lower savings are also subject to the approval of the building societies insofar as they are regularly entitled to claim the difference to the standard contribution according to the relevant T & Cs. If the building society saver does not subsequently compensate for this difference, the building society loan agreement can be terminated by the building society in accordance with the contractual provisions. Some building societies have recently made use of this termination option. In principle, BaFin cannot object to this. If the building society saver continues the building loan contract after the allocation without claiming a payment of the home loan amount or the home loan balance or if he requests a postponement of the allocation, then he can also be contractually obliged to continue to pay the regular savings contribution. In case of doubt, building society savers should carefully check the relevant regulations in the ABB regulations applicable to them.
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