Mar 10
0
Deutsche Bank Recurring Deposit
Recurring Deposit from Deutsche Bank
Invest wisely, maximize your savings, secure your funds and earn high rates of interest with Deutsche Bank Recurring Deposit scheme. The RD scheme has been specially designed to let depositors save smaller amounts (in fixed monthly installments) for a fixed tenure and enjoy multiple benefits.
Features and Benefits of Deutsche Bank Recurring Deposit
- The minimum deposit amount is Rs. 5000 and thereafter additional investments can be made in multiples of Rs. 1000.
- The maximum deposit amount is 200,000.
- The minimum tenure of RD is 12 months and the maximum is 60 months.
- If you happen to withdraw your RD prematurely, a penalty of 1% would be charged.
- If the RD is broken within 14 days of the booking date, then you are not entitled to get any interest on the same.
- If you wish to specify a nominee for your RD, you must fill the nomination form (available on the bank’s website) and mail it to the bank. For further clarification, please contact the nearest branch or visit the bank’s website.
- The interest rates will be applicable as on the date of your RD request, and not the date of RD booking.
- RD requests received by the bank before 4 pm on weekdays and 1 pm on Saturdays will be booked for the same day. Requests received beyond these timings will be booked for the next working day.
- The interest earned on Recurring Deposit is free of TDS (Tax Deducted at Source) deductions, as per the current income tax rules.
- If you already hold a savings account with Deutsche Bank, the specified amount of monthly installment can be automatically transferred to your RD account (from your savings account).
Interest Offered on Deutsche Bank Recurring Deposit
To provide maximum benefits to investors, Deutsche Bank offers interest rates similar to that of a regular FD on its Recurring Deposit scheme. The interest rate ranges from a minimum of 7.25% and goes as high up as 8.60%. The interest rate earned obviously depends on the selected deposit tenure. Higher the tenure of RD, the more is the interest rate. Be a wise investor and adapt this simple way to save money, every month.
