(1) In the case of early repayment , the lender may require suitable compensation for early repayment of the loan to cover the damage directly related to early repayment if the borrower at the time of repayment owes interest at a pegged borrowing rate. In the case of general-purpose consumer credit agreements, sentence 1 applies only if the pegged borrowing rate was agreed at conclusion of the contract.
(2) The claim to compensation for early repayment of the loan is excluded if
1. the repayment is effected from funds from an insurance policy concluded on the basis of a corresponding obligation in the credit agreement in order to ensure repayment, or
2. the information contained in the contract on the term of the contract, the right of termination of the borrower or the calculation of the compensation for early repayment of the loan is inadequate.
(3) In the case of general-purpose consumer credit agreements, the compensation for early repayment of a loan may not exceed the following amounts in each case:
1. 1 per cent of the amount repaid early, or, if the period between the early and the agreed repayment is not more than one year, 0.5 per cent of the amount repaid early,
2. the amount of the interest that the borrower would have paid in the period between early and agreed repayment.