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Business News/ Money / Personal Finance/  Deutsche Bank revises FD rates, promising maximum returns of 7.75% on this tenure
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Leading international investment bank Deutsche Bank recently hiked the interest rates on its fixed deposits and is currently among the top foreign banks offering returns of up to 7.75%. In India, Deutsche Bank offers fully integrated financial services to corporate, institutional, and individual clients. The bank offers retail banking, asset and private wealth management, institutional equities broking, on-shore investment banking, business process outsourcing, and retail banking. Effective as of May 23, 2023, the latest FD rates of Deutsche Bank are in force.

Deutsche Bank FD Rates

The bank currently offers a 3% interest rate on fixed deposits that mature between 7 to 29 days, and a 4.00% interest rate on deposits maturing in 30 to 45 days, according to Deutsche Bank. In addition to providing an interest rate of 6.75% on deposits with a tenor of 100 days to 270 days, Deutsche Bank is now offering an interest rate of 5.25% on deposits with a tenor of 46 to 99 days.

Deposits that mature within the next 271 days to 1 year will now earn 7% interest, while those maturing in the next 1 year to 2 years will now earn 7.50% interest. The interest rate on deposits that mature in 2 to 3 years will now be 7.75%, while the interest rate on deposits that mature in 3 to 5 years will now be 7%. For a 5-year deposit term, Deutsche Bank is now providing an interest rate of 7.25%.

Deutsche Bank FD Rates
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Deutsche Bank FD Rates (deutschebank.co.in)

“In case of premature withdrawal of fixed deposits on 7th day or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals," mentioned Deutsche Bank on its website.

“These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates," saidDeutsche Bank on its website.

With Deutsche Bank, a fixed deposit account can be opened with a minimum deposit of 20,000. Customers have the option of monthly, quarterly, or cumulative interest payments.

 

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 30 May 2023, 03:25 PM IST
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