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Fincash » RD Interest Rates » Deutsche Bank RD Rates

Deutsche Bank Recurring Deposit Rates 2024

Updated on July 16, 2024 , 1912 views

The Recurring deposit (RD) scheme at Deutsche Bank is a simple way to save money every month and earn higher interest than you get with a Savings Account.

A recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. Every month, a fixed amount of money is deducted either from a savings or a current account. And, at the end of the maturity, investors are paid back their invested money with accrued interest.

Deutsche-Bank

A user willing to open an RD account with Deutsche can choose any amount and term according to your convenience.

Deutsche Bank RD Interest Rate 2024

Here's a list of Deutsche Bank RD Interest Rate for regular citizens as well as senior citizens as per the investment tenure.

Maturity Period General Citizen Senior Citizens
12 months 3.85 3.85
15 months to 18 months 4.75 4.75
21 months to 24 months 5.00 5.00
27 months to 36 months 5.20 5.20
39 months to 48 months 5.50 5.50
51 months to 57 months 6.00 6.00
60 months 6.25 6.25

Deutsche Bank RD Interest Rate 2018

Maturity Period General Citizen Senior Citizens
12 months 6.50% 6.50%
15 months to 24 months 7.75% 7.75%
27 months to 36 months 7.50% 7.50%
39 months to 48 months 7.50% 7.50%
51 months to 57 months 7.50% 7.50%
60 months 8.25% 8.25%

Deutsche Bank RD Calculator

A Recurring Deposit calculator is a good way of calculating maturity amount on RD. You can follow this method to estimate your RD amount on maturity.

RD Calculator

Monthly Deposit:
Tenure:
Months
Rate of Interest (ROI):
%

Investment Amount:₹180,000

Interest Earned:₹22,265

Maturity Amount: ₹202,265

Illustration-

RD Calculator INR
Monthly Deposit Amount 500
RD in month 60
Rate of Interest 7%
RD Maturity Amount INR 35,966
Interest Earned INR 5,966

Features of Deutsche Bank RD Account

  • A user can make a minimum investment of INR 5,000 to a maximum of INR 2,00,000

  • The RD account offers a minimum investment tenure of 12 months (in multiplies of 3 months thereafter)

  • The RD account of Deutsche hold a maximum tenure of 60 months

  • The interest on Recurring Deposits will be calculated by the bank in accordance with the directions advised by Indian Banks' Association.

  • The Interest on RD will be paid out on maturity

  • If when an user has to do a premature withdrawal of RD, the interest rate charged will be 1.00 percent 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

  • If the Recurring Deposit of Deutsche Bank is broken within 14 days from the date of booking, no interest will be paid

  • Partial withdrawal is not allowed for recurring deposits

  • In case if a user fails to pay an installment, SI failure charges as per schedule of charges will be applicable

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Documents Required to Open Deutsche RD Account

To open a recurring bank account with Deutsche Bank, you need to submit any one of the documents from both the category-

A. Proof of identity

  • Passport
  • PAN Card
  • Voter ID card
  • Driving License
  • Government ID card
  • Photo ration card
  • Senior citizen ID card

B. Address Proof

  • Passport
  • Telephone bill
  • Electricity bill
  • Bank statement with cheque
  • Certificate /ID card issued by the Post Office.

Why Investing in SIP is Beneficial?

  • Systematic Investment plan (SIP) is a way to put your money in mutual funds. Investment can be done on a periodic Basis - daily, weekly, monthly or quarterly.

  • You need to deposit a small amount of money at every interval. The minimum amount can be as low as Rs. 500.

  • SIPs can help in all kinds of investment goals, whether short- or long –term, depending on the frequency of investment, funds chosen and other factors.

  • SIPs offer flexible instalment plans of daily, weekly, monthly, quarterly etc.

  • Returns can be earned better here. The longer you invest via a SIP in mutual funds, especially in an Equity Fund, the higher are the chances to earn good returns.

  • To Cancel SIP, the investors can simply close their investment and withdraw their money without any penal charges.

Best Performing SIPs to Invest 2024

Here's a list of best performing equity SIPs for an investment horizon of five years and above

FundNAVNet Assets (Cr)Min SIP Investment3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
IDFC Infrastructure Fund Growth ₹56.236
↓ -0.32
₹1,171 100 24.945.486.935.130.850.3
Franklin Build India Fund Growth ₹145.748
↓ -0.51
₹2,530 500 17.830.875.235.128.351.1
L&T India Value Fund Growth ₹109.71
↓ -0.08
₹12,373 500 18.926.958.627.825.439.4
DSP BlackRock Natural Resources and New Energy Fund Growth ₹96.291
↑ 0.14
₹1,173 500 11.927.255.223.22531.2
Motilal Oswal Multicap 35 Fund Growth ₹56.8484
↓ -0.17
₹10,013 500 15.925.854.918.517.131
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 18 Jul 24

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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