Investing in Recurring Deposit schemes is an efficient way to save money in small chunks without feeling the financial burden on your monthly budget. Deutsche Bank offers the Recurring Deposit scheme to its savings bank account holders. The amount gets transferred from your savings account directly each month. To open an Recurring Deposit account with Deutsche Bank, you need to save at least 5000 per month and the maximum limit is two lakhs. The Recurring Deposit tenure varies from 12-60 months for Deutsche Bank.
Rate of Interest P.A – General
Rate of Interest P.A – Senior Citizens
15 months to 24 months
27 months to 36 months
39 months to 48 months
51 months to 57 months
The minimum tenure for a Deutsche Bank Deposit scheme is 1 year is 6% per annum. The short-term deposits range from 15-24 months. An interest rate of 7% can be availed on your short-term deposit. If you prematurely withdraw the amount deposited, the interest rate is not applicable to the amount deposited. Prematurely withdrawing the deposited amount attracts 1% penalty charges.
The medium deposit term for Deutsche Bank is 27-36 month and on a medium-term Recurring Deposit account, you may earn an interest rate of 7%. The interest rate increases with an increase in the deposit term. On maturity, the depositor receives the amount deposited along with interest applicable on it.
For tenures ranging from 51-57 months, the interest rate applicable is 7.25%. The maximum tenure for Deutsche Bank Recurring Deposit account is 60 months and the highest interest rate that can be gained from an Recurring Deposit account is 7.75%.