Deutsche Bank Fixed Deposit Interest Rates
| Tenure | Less Than Rs. 2 Crores | |
|---|---|---|
| Interest Rate | Interest Rate for Senior Citizens* | |
| 181 to 270 Days | 3.65 | 3.65 |
| 271 to 1 Yr | 3.85 | 3.85 |
| > 1 Yr to 1.5 Yrs | 4.00 | 4.00 |
| > 1.5 Yrs to 2 Yrs | 4.25 | 4.25 |
| 5 Yrs | 6.25 | 6.25 |
Deutsche Bank Fixed Deposit Interest Rates vary between 1.80% to 6.25% depending on the tenure of investment and deposit amount. Earn fixed interest for the selected tenure, while securing your funds safely with the bank. You can open the deposit online. Special discounted rates are also available for senior citizens. The minimum Fixed Deposit (FD) amount is Rs. 20,000. The maximum tenure is 5 years. You can also put money in Tax Saver FDs.
A nomination facility is available. You can also get an overdraft up to 95% against the FD at attractive rates. In this post, we will discuss features of Deutsche Bank Fixed Deposit Interest Rates, domestic and NRO FD rates, NRE deposit rates, discounted rate for senior citizens, calculation of interest for leap and non-leap years, and FAQs.
Features of Deutsche Bank Fixed Deposit Interest Rates
Here are the features of Deutsche Bank FD Rates:
- The rate of interest is per annum. For amounts less than Rs. 2 crores, special rates are applicable.
- The interest pay-out options are monthly, cumulative, or quarterly.
- The rates are applicable for the renewal of existing FD and new deposits from the effective date as per the bank. Depositors will get the maturity amount as per the contracted rate at the time of opening the deposit, even if the rates change later on.
- For FDs where interest amount is paid on maturity, the interest here is compounded every quarter.
- These deposits usually follow the cumulative interest method. The same is based on the account opening date.
- The interest earned is added to the amount you originally invested. The calculation is at the end of every calendar quarter.
Deutsche Bank Domestic and NRO Fixed Deposit Rates
Here is the latest update:
| Tenure | Less Than Rs. 2 Crores | |
|---|---|---|
| Interest Rate | Interest Rate for Senior Citizens* | |
| 7 Days | 1.80 | 1.80 |
| 8 to 14 Days | 1.80 | 1.80 |
| 30 Days | 3.00 | 3.00 |
| 31 to 45 Days | 3.00 | 3.00 |
| 46 to 59 Days | 3.00 | 3.00 |
| 60 to 89 Days | 3.25 | 3.25 |
| 90 to 99 Days | 3.50 | 3.50 |
| 100 Days | 3.25 | 3.25 |
| 101 to 180 Days | 3.25 | 3.25 |
| 181 to 270 Days | 3.65 | 3.65 |
| 271 Days to 1 Yr | 3.85 | 3.85 |
| > 1 Yr to 1.5 Yrs | 4.00 | 4.00 |
| > 1 Yr to 1.5 Yrs | 4.00 | 4.00 |
| > 1.5 Yrs to 2 Yrs | 4.25 | 4.25 |
| > 2 Yrs to 3 Yrs | 4.50 | 4.50 |
| > 3 Yrs to 4 Yrs | 5.00 | 5.00 |
| > 4 Yrs to < 5 Yrs | 5.25 | 5.25 |
| 5 Yrs | 6.25 | 6.25 |
Deutsche Bank NRE Fixed Deposit Rates
Here are the essentials:
| Tenure | Interest Rate Per Year |
|---|---|
| 1 Yr | 3.85 |
| > 1 Yr to 1.5 Yrs | 4.00 |
| > 1.5 Yrs to 2 Yrs | 4.25 |
| > 2 Yrs to 3 Yrs | 4.50 |
| > 3 Yrs to 4 Yrs | 5.00 |
| > 4 Yrs to < 5 Yrs | 5.25 |
| 5 Yrs | 6.25 |
NOTE: If the single NRE deposit is lower than Rs. 2 crores in amount, then no interest is available if the premature withdrawal happens in less than a year. In case of premature withdrawal after a year, the applicable rate will be cut down by 1%, and the same will then apply to any renewals henceforth.
Deutsche Bank Fixed Deposit Interest Rates for Senior Citizens
Here are more details:
- Discounted rates for senior citizens are for resident individuals of 60 years of age and above. The rates are for retail deposits.
- This bracket excludes non-individuals, NRIs, and individuals as a Karta in Hindu Divided Family.
- For senior citizen FD accounts and rates, for a joint application, the discount is valid only if the primary account holder is a senior citizen.
- Otherwise, the discount will not be applicable.
Calculation of Deutsche Bank FD Rates for Leap and Non-Leap Year
Here is more information:
- To calculate the tenure of an FD, the bank considers a non-leap year (365 days) and a leap year (366 days) as a year.
- If you book a fixed deposit for 1 year, and that year is a leap or non-leap year, then the applicable interest is for 1 year period.
- If you open an FD for 2 years, wherein the interest spread is over a non-leap year and a leap year, then the applicable interest is for the period of 1.5 years to 2 years.
- This rule is valid for all tenures greater than and equal to 1 year spanning a non-leap year and a leap year.
Frequently Asked Questions about Deutsche Bank FD Rates
Here are the Deutsche Bank FD Interest Rates:
1. In Which Case You Will Not Earn Interest?
If you withdraw the fixed deposit prematurely before 7 days, then no interest is payable.
2. What is the Minimum FD Deposit Amount?
You need to put at least Rs. 20,000 in the Fixed Deposit account. Interest rates may change without prior notice. So, stay updated with the latest information.
3. What Are the Rules for FD Interest for Deposits Over Rs. 2 Crores?
The rates for deposits over and equal to Rs. 2 crores are updated on a Friday. It is updated daily. The rate then is applicable for the following weekend.
4. What Are the Norms for Monthly Interest Payout?
For monthly interest pay-out, the calculation of interest happens for the quarter. It is also paid monthly at a discounted interest rate as per the Reserve Bank of India guidelines.
5. What Are the Details of Deutsche Bank Tax Saver Fixed Deposit?
The Tax Saver FD scheme by the bank allows you to get tax exemptions. You can invest up to Rs. 1.5 lakhs for 5 years. The tax exemptions are as per Section 80C of the Income Tax Act, 1961. This is a fixed tenure, and you cannot break it in between. If broken, there will be no tax benefits available.
6. What Are the Conditions for Premature Withdrawal?
If you make a premature withdrawal after 7 days of opening the FD, then the rate of interest will be 1% lower than what was originally applicable. This rate will also apply to all deposits including renewals.