A German global banking and financial services company, Deutsche Bank AG, has headquarters in Frankfurt, Germany. The first branch of Deutsche Bank in India was established in 1980. With branches in 16 Indian cities, Deutsche Bank boasts of 9,800 employees in India alone. The Indian corporate headquarters of Deutsche Bank is located in Mumbai, Maharashtra. Deutsche Bank enjoys the prevalent position of a fully integrated financial service provider to Indian corporates, institutions and individual clients alike.
Deutsche Bank offers you fixed deposits at a high rate of interest while ensuring the complete protection of your funds. Deutsche Bank offers its customers an array of reasons to deposit money into their fixed deposit accounts. Managing your money has never been easier with Deutsche Bank online banking facilities. You can calculate maturity amounts and the interest accrued on your fixed deposits. Deutsche Bank also offers you the opportunity to calculate the tenure most appropriate for your fixed deposit over a host of different tenure options. In fact, with Deutsche Bank, you can also choose from various pay-out options such as monthly and quarterly. Cumulative options are also offered.
Any Indian, individual or minor with KYC documents can open a fixed deposit account with Deutsche Bank.
For minors, a parents or guardian has to be a co-signee.
Non-resident Indians are also offered the option of opening a fixed deposit account with Deutsche Bank.
Deutsche Bank offers the following fixed deposit schemes-
The minimum amount required to open a fixed deposit account with Deutsche Bank is ₹ 20,000.
The maximum amount that can be deposited online into a fixed deposit account with Deutsche Bank is ₹ 99.99 lakhs.
For amounts higher than ₹ 99.99 lakhs, deposits have to be made at a branch of Deutsche Bank.
The minimum tenure of a fixed deposit account with Deutsche Bank is 7 days.
The maximum tenure of fixed deposit accounts with Deutsche Bank is 60 months.
The interest rates offered by Deutsche Bank on Fixed Deposits range between 4% to 8.6% for deposits below ₹ 1 crore. Furthermore, you can now avail attractive rates of interest with liquidity on your fixed deposit account with Deutsche Bank. A cumulative yield of 10.61%, calculated on the basis of a simple interest rate of 8.6%, can be earned on a 5 year deposit.
Deutsche Bank offers two methods of opening a fixed deposit account to their customers,
Following are the easy steps to open an online fixed deposit account with Deutsche Bank-
The fixed deposit advice will be delivered to the mailing address specified by you.
Deutsche Bank offers its fixed deposit account holders with the facility of overdraft against fixed deposits. Loans can be borrowed against a fixed deposit account allowing the customer to enjoy liquidity throughout the fixed deposit account tenure.
The overdraft facility offered by Deutsche Bank protects the returns on your fixed deposit account while ensuring you always have funds for your needs.
The Deutsche Bank’s overdraft against fixed deposit facility works entirely in the best interest of the fixed deposit account holder.
When you accrue a loan against your Deutsche Bank fixed deposit account-
|MINIMUM OVERDRAFT AMOUNT||₹ 25,000|
|MAXIMUM OVERDRAFT AMOUNT||UPTO 90% OF FIXED DEPOSIT AMOUNT|
The tenure of the loan offered against your fixed deposit account is subject to the tenure of your fixed deposit.
A time frame between 7 days to 365 days is the standard tenure offered for the overdraft facility.Rates of Interest
|IF OVERDRAFT IS GIVEN TO THE FIXED DEPOSIT ACCOUNT HOLDER||2% ABOVE THE FIXED DEPOSIT RATE|
|IF OVERDRAFT IS GIVEN AGAINST THIRD PARTY FIXED DEPOSIT||3% ABOVE THE FIXED DEPOSIT RATE|
The Deutsche Bank’s overdraft against fixed deposits facility offers its account holders with the following appealing benefits-
Deutsche Bank offers NRE and NRO fixed deposit accounts.NRE Fixed Deposits
Interest Rates* for NRE deposits less than Rs. 1 crore are listed below
|1 to 2 years||7.25%|
|3 to 4 years||7.75%|
|3 to 4 years||7.75%|
|4 to 5 years||8%|
*Rates are subject to changeNRO Fixed Deposits
Interest Rates* for NRO deposits less than Rs. 1 crore are listed below
|1 to 1.5 years||7.25%|
|2 to 3 years||7.5%|
|3 to 4 years||7.75%|
*Rates are subject to change
For premature withdrawals before seven days for NRO deposits, Deutsche Bank charges a penalty of 1%.Premature withdrawals for NRE deposits
For deposits less than and greater than Rs. 1 crore, there are no penalties charged for a tenure of less than 1 year. However, for 1 year and above, a penalty rate of 1% would be charged (the interest rate is the rate applicable for the period for which the deposit is with the bank).