This Foreign Bank Offers 7% Interest On Deposits For Regular Citizens

Deutsche Bank is the leading German bank with strong European roots and a global network. The bank focuses on its strengths in a Corporate Bank newly created in 2019, a leading Private Bank, a focused investment bank and in asset management. Deutsche Bank provides financial services to companies, governments, institutional investors, small and medium-sized businesses and private individuals. It was founded in 1870 to accompany German businesses into the world, and has worked across borders ever since.

Currently, the bank is offering maximum interest rate of 7% on its fixed deposits for general and senior citizens. The bank implemented its latest interest rates on domestic/NRO fixed deposits from June 14, 2022. As per the latest interest rates, the minimum interest rate begins at 2.30% for FDs for the tenor of 7 days for deposits less than 2 crore. The same interest rate remains applicable for senior citizens' FDs. The maximum interest rate that both senior citizens and general citizens can fetch is 7% p.a. for tenors 3 years to 5 years.

Meanwhile, no interest will be payable for deposits withdrawn prematurely before 7 days. The minimum fixed deposit amount will be Rs 20,000. Investors can avail monthly, quarterly, and cumulative interest payout options.

Check below an illustration calculated at a deposit amount of Rs 10 lakh: