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  • Deutsche Bank Recurring Deposit

    DEUTSCHE BANK RECURRING DEPOSIT
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    Overview of Deutsche Bank

    A leading Bank in Germany and the rest of Europe, Deutsche Bank is a global investment bank. The bank is rapidly growing in North America and Asia. It operates in over 70 countries across the world. In India, Deutsche Bank provides integrated financial services to corporate, individual and institutional clients.

    Recurring Deposit from Deutsche Bank

    Invest wisely, maximise your savings, secure your funds and earn high rates of interest with Deutsche Bank’s Recurring Deposit scheme. The RD scheme has been especially designed to let depositors save smaller amounts (in fixed monthly instalments) for a fixed tenure and enjoy multiple benefits.

    Features and Benefits of Deutsche Bank’s Recurring Deposit

    • The minimum deposit amount is Rs. 5000 and thereafter additional investments can be made in multiples of Rs. 1000.
    • The maximum deposit amount is 200,000.
    • The minimum tenure of RD is 12 months and maximum is 60 months.
    • If you happen to withdraw your RD prematurely, a penalty of 1% would be charged.
    • If the RD is broken within 14 days of the booking date, then you are not entitled to get any interest on the same.
    • If you wish to specify a nominee for your RD, you must fill the nomination form (available on the bank’s website) and mail it to the bank. For further clarification, please contact the nearest branch or visit the bank’s website.
    • The interest rates will be applicable as on the date of your RD request, and not the date of RD booking.
    • RD requests received by the bank before 4 pm on weekdays and 1 pm on Saturdays will be booked for the same day. Requests received beyond these timings will be booked for the next working day.
    • The interest earned on Recurring Deposit is free of TDS (Tax Deducted at Source) deductions, as per the current income tax rules.
    • If you already hold a savings account with Deutsche Bank, the specified amount of monthly instalment can be automatically transferred to your RD account (from your savings account).

    Interest Offered on Deutsche Bank’s Recurring Deposit

    To provide maximum benefits to investors, Deutsche Bank offers interest rates similar to that of a regular FD on its Recurring Deposit scheme. The interest rate ranges from a minimum of 7.25% and goes as high up as 8.60%. The interest rate earned obviously depends on the selected deposit tenure. Higher the tenure of RD, the more is the interest rate. Be a wise investor and adapt this simple way to save money, every month.

    Frequently Asked Questions (FAQs)

    1. What is the rate of interest offered by Deutsche Bank on the Recurring Deposit account?
    2. To maximise the benefits for customers, Deutsche Bank offers interest rates at par with regular a FD on its Recurring Deposit scheme. The interest rate varies depending on the selected deposit tenure. It ranges from a minimum of 7.25% and goes as high up as 8.60%. With a higher deposit tenure, the interest rate increases. A wise investor usually adapt this simple way to save money, every month.
    3. Do I get any kind of tax exemption if I open an RD account with Deutsche Bank?
    4. If you open an RD account with Deutsche bank, the interest that you earn on the same is free of TDS (Tax Deducted at Source) deductions, as per the current income tax rules.
    5. I already hold a savings account with Deutsche Bank? Does this simplify my monthly payments to my RD account (with the same bank) in any way?
    6. Yes, on holding a savings account with Deutsche Bank, the specified amount of monthly instalment can be automatically transferred to your RD account (from your savings account).
    7. What is the maximum and minimum deposit amount and deposit tenure for Deutsche Bank Recurring Deposit scheme?
    8. The minimum deposit amount is Rs. 5000 and thereafter additional investments can be made in multiples of Rs. 1000 and the maximum deposit amount is 200,000. The minimum tenure of RD is 12 months and maximum is 60 months.

    Know the Current Recurring Deposit Rates

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