• Deutsche Bank Fixed Deposit

    Deutsche Bank offers fixed deposits that protect your money while offering attractive interest rates with flexible tenure options. There are monthly, quarterly, and cumulative payout options as well as overdraft facilities available. The online booking facility makes it easy to open and manage your fixed deposit account. There are options for senior citizen fixed deposit, NRI fixed deposit, and tax-saver fixed deposit as well.

    Who Is Eligible To Open a Deutsche Bank Fixed Deposit Account?

    • 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.

    What fixed deposit schemes does Deutsche Bank offer?

    Deutsche Bank offers the following fixed deposit schemes-

    • Domestic Deposits- Less than Rs.2 crore
    • NRO Fixed Deposits- Less than Rs.2 crore
    • NRE Fixed Deposits- Less than Rs.2 crore
    • Tax Saver Fixed Deposits – Less than Rs.2 crore

    Interest Rates Offered by Deutsche Bank on Fixed Deposits

    The Deutsche Bank FD interest rates ange from 1.80% p.a. to 5.50% p.a. for deposits below Rs.2 crore and a tenure ranging from 7 days to 5 years. With a Tax Saver fixed deposit account that has a fixed tenure of 5 years, you can earn interest of 5.50% per annum. NRI fixed deposits, in the form of NRE and NRO accounts, attract an interest rate ranging from 1.80% p.a. to 5.50% p.a. for tenures that range from 7 days to 5 years.

    Earn a higher interest than a savings account and that too with total security of your funds with Deutsche Bank Fixed Deposit.

    • The minimum amount you can invest is Rs. 20,000
    • The maximum tenure is 5 years
    • Avail overdraft^ upto 95% against your fixed deposit at competitive rates
    • Nomination facility available
    • Online booking facility available

    How Does the Overdraft Facility Against Fixed Deposit Work?

    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-

    • The fixed deposit account remains in the name of the account holder
    • The fixed deposit account continues to earn interest for the account holder
    • The account holder can avail finance against the fixed deposit account
    • Finance is also applicable for relatives, any member of family or friends of the fixed deposit account holder.

    Key Features of Deutsche Bank Overdraft Facility

    Overdraft Amount

    Minimum Overdraft Amount Rs. 25,000
    Maximum Overdraft Amount Upto 95% of Fixed Deposit Amount

    Tenure

    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 24% p.a. on overdrawn amount as applicable.

    Benefits of Overdraft Facility Against Fixed Deposits

    The Deutsche Bank’s overdraft against fixed deposits facility offers its account holders with the following appealing benefits-

    • It is an instant and accommodating credit line against your fixed deposit
    • Interest rates are only charged on the amount of money that you use
    • With the drop in repo rates by R.B.I. you can now delight in even lower rates of interest on your overdraft

    Deutsche Bank NRI fixed deposits

    Deutsche Bank offers NRE and NRO fixed deposit accounts.

    NRE Fixed Deposits

    • Principal and interest are repatriable.
    • Interest earned is tax exempted.
    • Deposit is automatically renewed on maturity, unless specified otherwise.

    Interest Rates* for NRE deposits less than Rs. 2 crore are listed below

    Tenure Interest Rates
    1 year 4%
    1 to 1.5 years 4.50%
    Greater than 1.5 years up to 2 years 4.50
    Greater than 2 years up to 3 years 4.75%
    3 to 4 years 5%
    4 to 5 years 5.50%
    5 years 6.25%

    *Rates are subject to change

    NRO Fixed Deposits

    • There is no interest for deposits withdrawn before 7 days.
    • Minimum deposit amount is Rs. 20,000.
    • Interest is paid on a monthly, quarterly and cumulative basis.

    Interest Rates* for NRO deposits less than Rs. 1 crore are listed below

    Tenure Interest Rates
    7 days 2%
    100 days 3.70%
    1 to 1.5 years 4.50%
    2 to 3 years 4.75%
    3 to 4 years 5.00%
    4 to 5 years 5.50%
    5 years 6.25%

    *Rates are subject to change

    What Is the Procedure to Open a Fixed Deposit with Deutsche Bank?

    Deutsche Bank offers two methods of opening a fixed deposit account to their customers,

    • Branch walk-in applications
    • Online applications

    Branch Applications

    • An individual can walk into any of the Deutsche Bank branches with KYC documents and submit the documents along with the monetary amount of the fixed deposit account.
    • The branch of Deutsche Bank will instantly process the application for a fixed deposit account.
    • Amounts higher than ₹ 99 lakhs have to mandatorily be deposited at a branch of Deutsche Bank and cannot be done online.

    Online Applications

    • Fixed deposit account with Deutsche Bank can be opened online via online banking.
    • Both resident and non-resident ordinary (NRO) accounts can open a regular fixed deposit account.
    • A regular fixed deposit account can also be opened for non-resident external (NRE) accounts.

    Following are the easy steps to open an online fixed deposit account with Deutsche Bank-

    • Choose to book your fixed deposit online
    • Specify amount
    • Specify tenure
    • Specify interest pay-out frequency
    • Enter your transaction password
    • Confirm password

    The fixed deposit advice will be delivered to the mailing address specified by you.

    FAQs

    1. Does Deutsche Bank charge a penalty for premature withdrawals?

      For premature withdrawals before seven days for NRO deposits, Deutsche Bank charges a penalty of 1%.

    2. Is Premature withdrawals allowed 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).

    3. What Is the Minimum Amount Required to Open a Fixed Deposit Account with Deutsche Bank?

      The minimum amount required to open a fixed deposit account with Deutsche Bank is Rs.20,000.

    4. What Is the Minimum Tenure of Fixed Deposit Accounts with Deutsche Bank?

      The minimum tenure of a fixed deposit account with Deutsche Bank is 7 days.

    5. What Is the Maximum Tenure of Fixed Deposit Accounts with Deutsche Bank?

      The maximum tenure of fixed deposit accounts with Deutsche Bank is 60 months.

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