With the variety of clients that Deutsche Bank services, it makes sense that the bank offers different types of Savings Accounts with varied features to suit the different needs of customers. The types of Savings Accounts include Expat Savings Account, Value-Plus Savings Account and Regular and Easy Savings Accounts.
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Deutsche Bank Savings Account Interest Rate
Expat Savings Account has the benefit of preferential interest rates on fixed deposits. You can open a savings account with the bank and by investing in its FD, you can earn simple interest rate of 6.25% p.a. For the terms and conditions regarding this please visit the official website or you can get clarity from the phone banking team at your convenience.
Opening a Savings Account with Deutsche Bank
To open a Savings Account with Deutsche Bank you have the option of logging onto the official website and filling out the application form. A representative from the bank will contact you to process the application further. You can also SMS or call in the numbers provided on the website to have a representative call you back. Alternatively, you can go to a branch of the bank and fill out an application form directly.
Minimum Balance Requirements for a Savings Account at Deutsche Bank
|Account Title||Regular Savings Account (Applicable for only Cat B cities)||Easy Savings Account||Expat Savings Account||Value Plus Savings Account|
|Average Quarterly Balance (AQB) or Assets Under Management (AUM)||AQB: more than or equal to Rs.25,000 Or AUM: more than or equal to Rs.1.5 lakh||AQB is zero||AQB: more than or equal to Rs. 40,000||AUM: more than or equal to Rs. 150,000 OR AQB more than or equal to Rs.1 lakh|
|Account Opening Cheque||Rs.25,000||NA||Not Applicable||NA|
Types of Deutsche Bank Savings Account
Value-Plus Savings Account
Life is sure to get a little simpler with the feature-rich Value-Plus Savings Account on your side. Features like online and phone banking facilities are ingrained in this scheme making payments convenient and quick. These are some of the features that make Value-Plus Savings such a popular choice:
- Instant account opening Kit allows you to begin your transactions faster than you would have thought possible.
- Flexibility is at its best when it comes to balance requirements of a Value-Plus Savings Account. You can maintain a minimum Assets Under Management (AUM**) of Rs.1,50,000 or a minimum Average Quarterly Balance (AQB) of Rs. 1,00,000 in your account.
- It's possible for you to group accounts of family members and simultaneously operate each account separately as well.
- Enjoy Free International Gold Debit Card with this Savings Account.
- As a Value-Plus Savings Account holder, you can avail reward points everytime you make transactions at merchant outlets.
- Filling petrol is also cheaper as a Value-Plus Savings Account holder. When you fill petrol at any fuel station in India, you can avail 2.5% petrol surcharge waiver.
- Benefit from high withdrawal and shopping limits (from Rs. 25,000 to Rs. 1.5 lakh).
- Zero liability in the event of your International Debit Card having fraudulent transactions or any unauthorized online banking transactions as well.
- Value-added services:
- Your International Debit Cards will be accepted no matter where you travel, both within India and abroad as well. It will be accepted at over 27,000 Visa ATMs in India free of cost.
- Global ATM Alliance can be used for cash withdrawal from over 30,000 ATMs in 40 countries. Cash withdrawal can be done free of withdrawal charge at the following banks:
- WestPac bank in New Zealand, Australia and South Pacific
- Bank of America in United States of America
- All Deutsche Bank ATMs in the world
- Scotia Bank in Mexico, Chile and Caribbean Islands and Canada,.
- In Africa and UK: Barclays Bank
- In France: BNP Paribas
- Customers of this savings account will get at-par cheque books free of cost, which can be used to make outstation payments. There is no limit to the amount that you can transfer using it, and there are no restrictions on the usage. These cheques will be taken as local cheques when used at all Deutsche Bank branches in India. You can also make use of the free of cost pay orders and demand drafts which are payable at more than 500 key locations in India.
- Deutsche Bank focuses of convenience for customers which is why db OnlineBanking is provided for easy transactions, bill payments, service requests, consolidated view of all your accounts and much more.
- E-Mail and SMS Alerts will keep you aware of all transactions in your account such as salary credit alerts, alert for payment and success /failure, bill presentment, alerts for cheque bouncing/clearing etc.
- E–Statements will be sent to your on a regular basis so that you are kept aware of your monthly statements and are also able to keep a store of them for the future.
- The efficient phone banking team is available to customers 24/7 to clear any queries and assist with any requests.
Expat Savings Account
As the name suggests, Expat Savings Account is meant for those living in a different country from their home country. This savings account is designed with a deep understanding of the special needs and requirements of expats. This Savings Account comes with privileges like Free International Platinum Debit Card, Free Outward remittances and Invites to special events. These are some of the features and benefits available with the Expat Savings Account:
- The Premium Banking Privileges provided with this type of saving account include preferential interest rates for fixed deposits, Free pay orders, demand drafts as well as payable at par cheque books and Service managers who will take care of all your needs among many other benefits.
- Complimentary Deutsche Bank Platinum Debit Card is available for yourself and joint applicant. Transactions at all ATMs in India are free of cost. The Global ATM alliance allows you to withdraw cash in 40 countries without having to pay any cash withdrawal fees. When you fill fuel at any fuel station in India, you get 2.5% surcharge waived. Purchase Protection Cover worth Rs. 1 Lakh and Lost Card Insurance Cover worth Rs 5 Lakhs are available with this Savings Account. There are over 28 million VISA merchant establishments where you can shop at using your card.
- Deutsche Bank Investment Services provides the best solutions to your particular financial situation, helping you to save more.
- Superior Investment Solutions provides options when it comes to your decision of where and when to invest, such as mutual fund schemes, life/ non life insurance products etc. Preferred interest rates can also be availed on deposits of Rs. 1 crore and above.
- db WealthPro is a wealth management tool provided with this savings account which helps you monitor and control your finances.
- Use the online banking facility to make life more convenient when it comes to consolidated view of all accounts, paying utility bills, online funds transfer, Service requests, db DirectDebit and SMS/ Email alerts
Regular Savings Account
Choosing the Regular Savings Account will help you make the most of your savings. This type of savings account needs just a minimum balance of Rs. 15,000.
Easy Savings Account
The easy Savings Account requires minimum maintenance and is popular among many first-time savers. You do not have to maintain a certain amount as Average Quarterly Balance (AQB) unlike many other types of savings.
Eligibility of Deutsche Bank Savings Account:
You will need to go to a branch or contact the phone banking team to find out if you are eligible for the particular type of savings account at Deutsche Bank.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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