Deutsche Bank revises FD rates, promising maximum returns of 7.75% on this tenure
1 min read 30 May 2023, 03:25 PM ISTLeading 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%.
PremiumLeading 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%.
“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.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
