An RD in Deutsche Bank instills a habit of regular savings, where in you can invest a fixed amount every month for a fixed number of months. You can make these installments to a Deutsche Bank recurring deposit scheme either by a Standing Order, ECS mandate or by regular direct remittance.
You can open a recurring deposit account with Deutsche Bank to avail attractive returns. The bank offer both general and senior citizens the same interest rates when investing in a recurring deposit account.
An RD account with the bank can be opened for a minimum investment of Rs.5,000 and a maximum investment of Rs.2 lakh.
The tenure offered ranges between 1 year and 5 years.
Listed below are the tenures and interest rates offered by Deutsche Bank when it comes to opening an RD account with them:
Tenure | Interest Rate for Domestic/NRO Recurring Deposits | Interest Rate NRE Recurring Deposits | Interest Rate for Senior Citizens* Recurring Deposits |
12 months | 7.00% p.a. | 7.00% p.a. | 7.00% p.a. |
15 months to 18 months | 8.00% p.a. | 8.00% p.a. | 8.00% p.a. |
21 months to 24 months | 8.00% p.a. | 8.00% p.a. | 8.00% p.a. |
27 months to 36 months | 8.00% p.a. | 8.00% p.a. | 8.00% p.a. |
39 months to 48 months | 7.00% p.a. | 7.00% p.a. | 7.00% p.a. |
51 months to 57 months | 7.00% p.a. | 7.00% p.a. | 7.00% p.a. |
60 months | 7.50% p.a. | 7.50% p.a. | 7.50% p.a. |
Note: Interest rates updated June 10, 2024.
Short-term recurring deposits offered by Deutsche Bank have a tenure that range between 1 year and 2 years. The bank offer interest in the range of 7.00% p.a. to 8.00% p.a. when investing in such RDs.
The highest interest under short term RDs is provided for investing in the deposit tenure of 1 year 3 months to 1 year 6 months.
Deposit tenures that range between 21 months to 48 months fall under the bracket of medium-term recurring deposits. The interest paid by the bank for investing in such RDs range between 8.00% p.a. to 7.00% p.a. to both general and senior citizens.
Long-term recurring deposits range from 4 years 3 months to 5 years. Deutsche Bank offer interest at the rate of 7.00% p.a. to 7.50% p.a. is offered for opening an RD account for a period that ranges between 4 years 3 months to 4 years 9 months, 7.50% is offered for opening an RD account for 5 years.
Six months is the minimum deposit tenure. The longest term is 60 months for Deutsche Bank.
A regular recurring deposit with Deutsche Bank must have a minimum opening balance of Rs.5000 and a maximum opening balance of Rs.200,000.
Online RD applications are available from Deutsche Bank. You would need to fill out an online application, after which a bank representative would contact you. As an alternative, you can submit the application form and accompanying documentation in person at the nearest branch.
The minimum initial balance for a regular recurring deposit with Deutsche Bank is Rs. 5000, which is capped at Rs. 200,000.
You can apply for an RD with Deutsche Bank online. You will need to submit an online application form, and a bank representative will contact you. Alternatively, you can go to your nearest bank and submit the necessary documents along with the application form.
The minimum deposit period with Duetsche Bank is 6 months.
The maximum deposit period with Deutsche Bank is 60 months.
The documents required to open an RD account with Deutsche Bank are application form (dully filled), passport size photo, residence proof, and KYC documents as asked by the bank.
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