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Migros Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Migros Bank suits Swiss households that want fee-free everyday money and can keep all their balances in CHF. The savings account pays 0.05% at a variable rate, the credit card's annual fee is CHF 0, and the personal loan is priced at 4.9% to 7.9%.

Key facts

Best for
Fee-free Swiss everyday money, with savings, cards and personal loans from one bank.
Monthly fee
CHF 0↗
Card type
Debit↗
Card network
Visa↗
Legal entity
Migros Bank AG↗
Headquarters
Switzerland↗
Founded
1958↗
Support channels
Email, Help-centre, Phone↗
Official website
migrosbank.ch

Loans

APR
4.9% to 7.9%↗
Term
12 months↗
Credit check
Hard↗
Funding time
Credit decision within 48 hours of receiving all documents, then 14-day statutory withdrawal period before payout to the chosen account↗
Representative example
Privatkredit of CHF 10,000.00 over 12 months at an effective annual rate of 4.9% to 7.9%: monthly instalment CHF 855.15 to CHF 868.15, total costs CHF 261.80 to CHF 417.80↗
Rate type
Variable↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
Employed persons aged 18 to 64, regular employment income from salaried work, Swiss citizenship or C or B permit (residing in Switzerland uninterrupted for at least two years), permanent unlimited employment contract in Switzerland or Liechtenstein (not in probation), and a debt collection extract without significant entries or open proceedings↗
Loan types
Personal, Debt-consolidation, Car↗
Pricing model
No annual fee

Savings

Headline rate
0.05%↗
Access terms
Savings account held in CHF only, for private individuals aged 25 and over, interest credited once a year on 31 December↗
Account kind
Easy access↗

Credit cards

Annual fee
CHF 0↗
Card kind
Credit↗

Mortgages

Initial rate
1.34%↗
Fixed period
2 years↗
Maximum loan to value
80%↗
Purpose
Purchase, Remortgage↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • The credit card's annual fee is CHF 0 and the savings account's monthly fee is CHF 0.
  • Personal loans price at 4.9% to 7.9%, under the 15.5% common across these listings, and early repayment is free.
  • Online mortgages open at 1.34% for a fixed period of 2 years, with borrowing up to 80%.
  • Support runs on email, help centre and phone, and Migros Bank AG stands behind the cards, savings and loans.

Cons

  • Savings sit in a single market: the account is held in CHF only.
  • The savings rate is variable and interest is credited at the end of the year, with 0.05% well under the 3% seen on savings listings.
  • Eligibility is narrow: a permanent unlimited contract, Swiss citizenship or a C or B permit, a clean debt collection extract and a hard credit check.
Migros Bank

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Scored 9.5 / 10 by SumCue.

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Who it suits

  • Swiss households paid in CHF who want a savings account, a card and a loan from the same bank.
  • Salaried employees with a permanent contract looking to borrow at 4.9% to 7.9% and repay early at no extra cost.
  • Buyers and remortgagers after an online mortgage with an initial rate of 1.34%.

Who should look elsewhere

  • Anyone holding money in more than one currency, because the savings account is CHF only.
  • Self employed applicants, because eligibility asks for regular employment income from salaried work.
  • Borrowers wanting a long repayment window, since the published example runs over 12.

Rates and terms

The savings account pays 0.05% at a variable rate, with interest credited at the end of the year and the balance held in CHF only. Personal loans carry 4.9% to 7.9% as the effective annual rate, and the published example runs over 12 with free early repayment allowed. Nothing is locked away for a fixed term.

How Migros Bank compares

Where Migros Bank is available

Available
Switzerland

Countries from the brand (Source, checked September 29, 2026)

Frequently asked questions

What does the Migros Bank savings account cost?+

The account has a monthly fee of CHF 0 and a headline rate of 0.05%, set as a variable rate. It is an easy access account, so money can move in and out as needed, and interest is credited at the end of the year rather than monthly.

Who can open the savings account?+

The savings account is for private individuals over a minimum age who keep the balance in CHF, and it pays 0.05% as an easy access account. The stricter rules on salaried employment, residency and permits apply to the personal loan rather than to the savings account.

Does the credit card charge an annual fee?+

The credit card is a credit card with an annual fee of CHF 0, so there is no standing charge for holding it. The savings account alongside it has a monthly fee of CHF 0, so the day to day cost of banking here runs on CHF 0 for the card and CHF 0 for the account.

What cards does Migros Bank offer?+

Migros Bank lists a credit card and a debit card. The debit card runs on the visa network, and the credit card carries an annual fee of CHF 0. Both are issued by Migros Bank AG, headquartered in Switzerland, so the cards and the account sit with the same Swiss bank.

What rate can I borrow at, and over what term?+

Personal loans are priced at 4.9% to 7.9% as the effective annual rate, and the published example runs over 12. The credit check is hard, so a debt collection record counts against the application, and early repayment is free if you want to clear the balance sooner.

How long does a personal loan take to arrive?+

The credit decision comes once all required documents are in, and a statutory withdrawal period sits between approval and payout to the account you nominate. The loan is a direct lender product from Migros Bank AG rather than a brokered offer, and the published term is 12.

What does the online mortgage look like?+

Online mortgages start at an initial rate of 1.34% for a fixed period of 2 years, and the highest loan to value is 80%. They cover purchase and remortgage, so they suit existing owners changing lender as well as first time buyers.

How do I reach Migros Bank for help?+

Support runs on email, help centre and phone, so help is available by phone, by email and through a help centre. The business behind the products is Migros Bank AG, based in Switzerland, and the savings side runs from the same Swiss operation.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.

Migros Bank

Migros Bank

Fee-free Swiss everyday money, with savings, cards and personal loans from one bank.

9.5/10See alternatives