Deutsche Bank FD Rates

Deutsche Bank offers its customers attractive fixed deposit products at interest rates ranging from 3% p.a. to 6.40% p.a. The investment duration for these products ranges from 7 days to 10 years. The bank offers investment products for Indian citizens as well as Non-resident Indians. Further, the Deutsche Bank FD scheme has no maximum investment amount, and you can easily manage your investment owing to the automatic renewal facility.

Types of Deutsche Bank Fixed Deposits 

The different types of Deutsche Bank Fixed Deposits are as follow:

• Regular Fixed Deposit
• Tax Saving Fixed Deposit

Features and Benefits of Deutsche Bank Fixed Deposits

Deutsche Bank fixed deposit schemes offer a host of advantages that make it the ideal choice for any investor. Given below are some of the features and benefits of the Deutsche Bank FD that make it an ideal investment option:

• The investor can opt for monthly, half-yearly, quarterly or annual interest payout options 
• You can get a loan against your fixed deposit account of up to 90% of the total investment amount
• You can start an investment with just Rs.1,000, and there is no cap on the maximum investment amount
• Deutsche Bank fixed deposits have an automatic renewal option
• You can add a nomination to your FD account

Eligibility Criteria for Deutsche Bank FD

Given below are the individuals and entities who are eligible to open a fixed deposit account with the Deutsche Bank:

• Any entity that is not prohibited by the Reserve Bank of India
• Individuals
• Hindu Undivided Families
• Joint Stock Companies 
• Firms
• Proprietorships 
• Clubs/Associations
• Joint Accounts

How is the Interest Rate Calculated on a Deutsche Bank Fixed Deposit?

The interest rate for a fixed deposit from Deutsche Bank is calculated in a below-given manner:

• Simple interest is paid out maturity for a fixed deposit tenure of fewer than six months
• For a fixed deposit tenure of over six months, the interest is calculated quarterly
• Cumulative or reinvestment interest is calculated quarterly and added to the principal amount in a way that the interest is paid on the interest earned in the previous quarter as well
• In case of the monthly investment plan, the interest is calculated quarterly and paid monthly at a discounted rate

Tax on Deutsche Bank FD

The returns earned from a fixed deposit account are typically taxed at the individual’s applicable tax slab rate. For instance, a person with an annual income of over Rs.10 lakh per annum will be liable to deposit 30% income tax on the returns earned from an FD in a fiscal year. Banks must also deduct TDS on the interest earned from your FD. Given below are the applicable rates for TDS deduction:

Status	TDS Rate
PAN Submitted to the Bank	10.00%
PAN not Submitted to the Bank	20.00%
Held by NRI	30.00%

Deutsche Bank FD Minimum/ Maximum Deposit Amount

The Deutsche Bank offers its customers superior flexibility and ease when it comes to their investment portfolio. You can invest in a Deutsche Bank FD with a minimum amount of Rs. 1,000. There is no maximum investment amount for a Deutsche Bank FD.

Deutsche Bank Fixed Deposit Returns Comparison With Top Banks

The table below draws a detailed comparison between the Deutsche Bank FD with fixed deposit options offered by other banks and NBFCs in the country:

Name of Bank/NBFC	Interest Rates (p.a.)
Baroda UP Bank FD	5.2% – 5.8%
Utkal Grameen Bank FD	5.45% – 5.95%
Uttar Bihar Gramin Bank FD	5% – 5.5%
City Union Bank FD	5.3% – 5.6%
Madhyanchal Gramin Bank FD	5.3% – 5.8%
Sundaram Finance FD	6.65% – 7.15%
South Indian Bank FD	5.75% – 6.25%
Saurashtra Gramin Bank FD	5.3% – 5.8%
ESAF Small Finance Bank FD	5.75% – 6.25%
Central Bank of India FD	5.35%

How to Open a Deutsche Bank FD Account

Given below is the step-by-step process to open a fixed deposit account with the Deutsche Bank:

Step 1: Visit the nearest Deutsche Bank branch.

Step 2: Obtain the fixed deposit account opening form and fill it with all the required information. To be opened, you must provide details like the account’s name, address, contact number, email ID, and PAN type.

Step 3: Enter the investment tenure. Usually, banks offer a tenure ranging from 7 days to 10 years. The customer can choose an investment tenure according to their respective financial goal.

Step 4: Attach the cheque for the investment amount. Alternatively, you may pay the investment amount via net banking from another account.

Step 5: Attach all the required documents; you will need to attach KYC documents like Identity proof documents, address proof documents, and PAN cards.

Step 6: The banker will verify the account opening form and other documents.

Step 7: Once the documents have been verified, the account provider will give you an acknowledgement slip regarding the account opening.