Product Overview

Personal Loan – TARGOBANK


A personal loan can help you meet your diverse financial needs – be it easy finance for a holiday, medical emergency, cash to buy a gadget or repaying old loans to improve conditions (beneficial interest rates).

The key benefits of a TARGOBANK loan are:

  • Interest loan from 1.75% per year
  • credit amount from 1,500 up to 65,000 EUR, to free disposal
  • period 12 to 96 months
  • monthly rate starting from 50 EUR
  • financial standing required.

TargoBank AG offers a simple way to get a personal loan online with minimum paperwork.

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Interest Rate (Loan)

from 1.75% / year

TargoBank AG is a German bank mainly active in retail banking and is headquartered in Düsseldorf. Since 2008 it is part of the French Crédit Mutuel Bank Group. It has 7500 employees and 350 branches in 200 cities in Germany and is a member of CashPool. It is state supervised by BaFin; bank deposits are backed by the Einlagensicherungsfonds des Bundesverbandes deutscher Banken (German Security Fund to Protect Savings).

Besides the online personal loan, Targo Bank also offers online loans for certain circumstances: buying a car, refurbishing a house or flat, and loans for self-employed persons.



  • small loans starting from €1,500 up to €65,000
  • repayment in small installments, starting from €50 monthly
  • no time pressure; it is possible to have the first repayment after 89 days 
  • the loan terms are 12 to 96 months
  • term reduction: premature repayment possible (at no charge)
  • repayment pause possible once a year (after 11 payments)
  • credit decision and disbursement within 7 days
  • interest rate from 1.75% per year (see website for a concrete offer)
  • online calculation of estimated credit costs according to the requested credit amount and lifetime of the loan
  • online submission of basic data concerning personal and job data
  • no physical and personal securities required
  • prompt delivery of contract documents per mail


Prerequisites in order to apply for the loan:

  • Legal age (= must be at least 18 years of age)
  • (Registered) Residency in Germany
  • Permanent employment (no probation period)
  • No negative entries in your SCHUFA (German credit score)
  • Bank account in Germany


You might also be interested in credit cards (see overview here):

American Express credit card GermanyGermany VISA free credit cardfree VISA credit card Germany

How to get your personal loan – What to do

A personal loan is a fixed amount of money given to an individual by a bank that comes with a fixed interest rate and a fixed repayment term. Personal loans are unsecured, which means that there is no collateral involved. So it is important to give information about your personal situation.

These include details on your working condition (kind of job, earning, weekly hours of work, medicare/health insurance), liabilities (rent of an apartment, child support, credit debts/obligation), personal data (family status, nationality, housing situation).


Just follow the simple steps in the loan application process and answer a few questions.

You will then receive a loan offer online – free and non-binding for you.

If you want to finalize, you can immediately prove your identity by use of the Targo Bank video chat, or by mail or at every branch.


(You may find it helpful to read the list of explanation of german words below: Glossary)

Glossary (German/English technical terms)

German TermEnglish translation
Berufliche Angabenjob information
AbsicherungsoptionOption on Payment protection/ insurance
AGBStandard business terms, the conditions of a contract
Anzahl kindergeldberechtigter KinderKindergeld = child benefit, an amount of money that the government gives to families with children (Number of children you get child benefit for)
ArbeitslosigkeitUnemployment, job loss
ArbeitsunfähigkeitSick leave, disability, inability to work
BankverbindungBank account, bank details
Berufsverhältnisjob, profession; employee or self employed/ freelancer
Arbeiter, Angestellter Rentner, Beamter
BeschäftigungsdauerJob tenure; if less than 3 years it will be necessary to give additional information
CollateralSomething (physical) pledged as security for repayment of a loan, to be forfeited in the event of a default
Darlehensnehmerborrower; just you or an additional borrower (“zweiter Darlehensnehmer”)
Effektiver Jahreszinsannual percentage rate (APR): the annual cost of a loan to a borrower including fees. Like an interest rate, the APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees such closing costs, discount points and loan origination fees.
EinnahmenEarnings; the money that you earn from your work
Erste Rate fällig amThe first payment will be due in …
Fester SollzinssatzFix borrowing rate
Fremdverpflichtungen, die man ablösen will.Replacement of old debt by new debt
KreditantragBorrowing request, request for a loan
Kreditgebührensee effektiver Jahreszins
NachweispflichtObligation to produce proof, e.g. copy of an employment contract
Nettoeinkommennet income; the amount that remains after everything has been taken away from it ( e.g. taxes) = monthly net income
Persönliche Angabenpersonal data
RatenschutzversicherungPayment protection
Ratenzahlungrepay a loan
Todesfall, Unfall, Arbeitsunfähigkeit, Arbeitslosigkeit Death, Accident, Inability to Work, Unemployment
UnterlagenDocuments, records
Vertrag/ unterschriebener Vertragcontract, deal, here: loan / signed in person
WohnartRental flat = Mietwohnung; Wohneigentum = home ownership;  living with your parents = bei den Eltern wohnen
Wunschkreditcredit amount
Wunschlaufzeitlife/period of a loan
ZinsenInterest rate: refers to the annual cost of a loan to a borrower and is expressed as a percentage