TARGOBANK AG products, services and reviews
Rating, reviews, address, contact info, branches, phone numbers, fixed deposits, savings and card accounts offered by TARGOBANK AG
3.80%
Annual fee
Free
Cashback
No
Annual fee
Free
Cashback
No
Interest rates up to 3.80%
Open and manage directly on PickTheBank Platform
Terms from 3 months to 5 years
Annual interest payments
Protected by Deposit Guarantee System up to 100.000 EUR
TARGOBANK AG
4.1
Germany
Credit ratings
Deposit Guarantee Scheme (DGS)
Deposit Guarantee Scheme (DGS) member. Deposits up to €100k per person are covered
S&P
A+
Moody’s
Aa3
Fitch
AA -
About TARGOBANK AG
TARGOBANK AG is a Germany-based retail and commercial bank headquartered in Düsseldorf and wholly owned by Crédit Mutuel Alliance Fédérale. Its core business is consumer finance alongside standard banking services, offering current accounts, savings and term deposits, credit cards, overdrafts, installment and auto loans, and securities brokerage and insurance distribution. For business customers, the bank provides accounts, payments, and financing solutions for working capital and equipment, serving self-employed clients and small to mid-sized enterprises. Access is available through a nationwide branch network, online banking, a mobile app, and telephone service; cash withdrawals can be made at CashPool ATMs, with charges typically applying at out-of-network machines and for certain services per the bank’s fee schedule. Digital onboarding and verification options are available, and lending decisions are subject to credit checks and documented income. Deposits are protected up to 100,000 euros per depositor under Germany’s statutory deposit guarantee scheme (Entschädigungseinrichtung deutscher Banken), and the bank is supervised by BaFin and the Deutsche Bundesbank. The institution traces its roots to Kundenkreditbank (KKB), later operating as Citibank’s German retail arm before its 2008 acquisition by Crédit Mutuel and rebranding to TARGOBANK in 2010. Pricing, eligibility criteria, and product features vary by account and loan type and are subject to change according to published terms and conditions.
TARGOBANK AG Deposit guarantee scheme participation
TARGOBANK AG participates in the deposit guarantee scheme of Germany which applies to all deposit accounts made by natural persons, legal entities and covers up to up to 100,000 EUR (or equivalent in local currency) per bank per depositor.
TARGOBANK AG Countries of operations
TARGOBANK AG offers their savings products in Germany
Products offered by TARGOBANK AG and interest rates
TARGOBANK AG offers 9 deposits and 9 savings accounts in EUR.
TARGOBANK AG offers the following fixed deposits in EUR in Germany: 0 months deposit - 1.5%; 4 months deposit - 2%; 6 months deposit - 2%; 12 months deposit - 1.9%; 24 months deposit - 1.9%; 36 months deposit - 1.9%; 120 months deposit - 2%.
Best interest rates in Germany
Fixed deposits offered by TARGOBANK AG
Savings accounts offered by TARGOBANK AG
Loans offered by TARGOBANK AG
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About TARGOBANK AG
TARGOBANK AG, based in Düsseldorf, is a well-established German bank focused on retail, business, and corporate banking. A subsidiary of the French cooperative banking group Crédit Mutuel Alliance Fédérale, TARGOBANK offers a range of financial products, including personal loans, mortgages, savings accounts, and investment solutions. The bank supports its customers through a comprehensive branch network and digital services, allowing convenient access to banking through e-banking platforms and a mobile app.
Deposit Protection
Deposits at TARGOBANK AG are protected under the German Deposit Guarantee Scheme, which covers amounts up to €100,000 per customer. This protection ensures that customers' savings are secure in accordance with EU regulations. TARGOBANK also offers enhanced security features, including multi-factor authentication for online banking, to safeguard customer funds.
Credit Rating
TARGOBANK AG enjoys robust credit ratings, underpinned by the financial strength of its parent company, Crédit Mutuel Alliance Fédérale. TARGOBANK holds an A+ rating from S&P, Aa3 from Moody’s, and AA- from Fitch. These ratings reflect the bank's strong creditworthiness and ability to meet financial obligations, offering customers a high level of confidence in its stability. Furthermore, Crédit Mutuel Alliance Fédérale itself holds an A1 rating from Moody’s, with a stable outlook, further solidifying TARGOBANK's financial foundation.
Geography of Operations
TARGOBANK AG operates exclusively in Germany, where it has a widespread presence with over 300 branches. The bank also offers comprehensive online and mobile banking services, allowing customers to manage their finances anytime, anywhere. Although TARGOBANK focuses on the German market, its affiliation with Crédit Mutuel provides it with broader financial expertise and resources across Europe.
Products and Services
TARGOBANK AG offers a wide range of financial products and services, including:
- Retail Banking: Includes personal loans, mortgages, credit cards, and current accounts, providing convenient solutions for everyday banking needs.
- Savings and Investment Products: Offers fixed-term deposits, savings accounts with competitive interest rates, and investment funds. Additionally, the Junior-Tagesgeld account is available for young savers, providing an accessible and secure way for children to start saving.
- Corporate Banking: Provides tailored solutions for small to medium-sized enterprises (SMEs), including business loans, cash management, and trade finance, designed to support business growth and operational efficiency.
- Insurance Services: In partnership with leading insurers, TARGOBANK offers a variety of insurance products, including life insurance, home insurance, and auto coverage, ensuring comprehensive protection for customers.
The bank’s Girocard allows customers to withdraw cash without fees at specific ATMs in France, Spain, and Belgium, making it easier for them to access their money while traveling in these countries.
Open a fixed-term deposit account
TARGOBANK Customer Reviews:
TARGOBANK has a mixed reputation with at Trustpilot of 1.9 out of 5, based on 2,501 reviews. The majority of reviews (68%) are 1-star, highlighting severe dissatisfaction, while only 21% are 5-star reviews.
Many customers express frustration over poor customer service, long processing times, and discriminatory practices. One reviewer accused TARGOBANK of racism, alleging loan rejection solely based on nationality. Others complain about being ignored after depositing large sums, facing arbitrary delays in account setup, and encountering unexplained loan rejections despite strong financial profiles.
Some positive feedback exists, particularly from customers who found account opening and bank transfers smooth. However, these are overshadowed by numerous reports of inadequate communication, unsatisfactory digital services, and a general sense of being disregarded by the bank's support team.
Financial Performance
TARGOBANK AG has demonstrated consistent financial performance, supported by the solid backing of Crédit Mutuel Alliance Fédérale. The bank’s focus on expanding its digital services and maintaining a strong retail presence has contributed to steady growth in both customer base and assets under management. In 2023, TARGOBANK reported a 10% increase in net profit, driven by higher demand for consumer loans and savings products.
Bank identifiers
BIC number
CMCIDEDD
Name
TARGOBANK AG
Country
Germany