Deutsche Bank Savings Account
A savings account is one of the most popular types of bank accounts and earns a nominal interest rate. Though it offers a low interest rate, it is a safe and convenient way of storing money. There are different kinds of savings accounts for different needs. Banks also offer zero-balance savings accounts for those who want only basic banking facilities.
There are many benefits to having a savings account such as keeping track of expenses, saving for future purposes like down payment for your dream home, or even for day-to-day expenses etc. A savings account is a must for people of all ages, as it makes banking much easier, and hassle-free.
Advantages of a savings account
- Access your money easily: You can deposit and withdraw money from a savings account as per your requirements.
- Income from Interest: While the interest is far lower when compared to that of, say, a Fixed Deposit account and offers low returns in comparison to other forms of savings, it still is desirable to have a savings account for the benefits it offers—like conducting your banking at ease.
- Pay your bills securely and easily.
- You can transfer funds and conduct various banking transactions with a savings account.
- Safety: your cash is stored safely with the bank
- Requires minimal documentation
- There are various fees associated with a savings account.
- You need to maintain a specific balance each month in order to avoid penalties. The minimum balance required, interest rate and fees and charges vary from bank to bank and the type of account opened.
- The interest is far lower when compared to that of, say, a Fixed Deposit account and offers low returns in comparison to other forms of savings.
Even with the downsides, a savings account is popular with the old and the young, as it inculcates a habit of saving and provides easy access to money. It is one of the most liquid forms of investment.
Deutsche Bank Savings Account
A Deutsche Bank savings account provides a host of banking benefits like flexible easy accounts management, along with a competitive interest rate. You can make quick utility bill payments via NetBanking, and enjoy various features in convenience banking with a Deutsche Bank Savings Account.
Features and Benefits of a Deutsche Bank Savings Account
There are various benefits to having a savings account with Deutsche.
- Safety and security when you store your cash in a savings account
- Different savings account for different needs.
- Access your account with ease via Internet Banking / SMS Bank / Phone Banking
Types of Deutsche Bank Savings Accounts
Below are a few of the different savings accounts available. For the full list of savings accounts options, check the bank website or visit the nearest branch.
Value-Plus Savings Account
- Instant account opening Kit
- Easy balance requirement
- Value-Plus Savings Account offers you and your family members the option of grouping of accounts. At the same time, you have the flexibility to operate each account independently.
- Free International Gold Debit Card
- Enjoy attractive reward points for transactions at merchant outlets.
- 2.5% petrol surcharge waiver at all petrol pumps in India.
- Flexible cash withdrawal and point of sale limits from Rs. 25,000 to Rs. 1.5 lakh.
Expat Savings Account
- Free Outward remittances to to your home country at preferential Forex rates. This facility is free once every month and you will get a preferred rate on Forex conversions.
- Preferential interest rates on fixed deposits: You can avail of a preferred interest rate for deposits of INR 1,00,00,000 and above.
- Special discount on locker rates.
- Free demand drafts, pay orders and payable at par cheque books: You will enjoy free payable at par cheque books, demand drafts and pay orders at all Deutsche Bank locations in India.
- Get special invites to exclusive events throughout the year.
- Exclusive discount offers on dining, shopping and bookstores.
- Free Deutsche Bank International Platinum Debit Card
- You can also gift another free International Platinum Debit Card to your loved ones
- Enhanced reward points: Earn higher reward points with the Deutsche Bank International Platinum Debit Card.
- 1 express rewards for every INR 100 spend at merchant establishments. You can redeem your reward points for a cash credit into your savings account.
- Free acceptance at all ATMs: Enjoy unlimited transactions at all ATMs in India free of cost.
- Global ATM alliance: Take advantage of the Global ATM alliance5 and withdraw cash from over 30000 ATMs across 40 countries without paying any cash withdrawal fees.
- Petrol surcharge6 waiver: 2.5% surcharge waived on fuel purchase across all petrol pumps in India.
Regular Savings Account
- Payable at Par Cheque Book – Personalized Free of Charge. In case of non-maintenance of minimum balance, Rs. 200 will be charged per Cheque Book issuance.
- Free Quarterly Statements and Free Monthly E Statements; In case of non-maintenance of minimum balance, only E Statements will be sent.
- Free International Gold Debit Card
Deutsche Bank Savings Account Minimum Balance
The minimum balance required in a Deutsche Bank savings account differs with each kind of account. It is advisable to contact the bank directly for details. Following is an overview:
|Type of Savings Account||Average Monthly Balance Required|
|Value-Plus Savings Account||AQB: Rs. 1,00,000|
|Regular Savings Account||Rs. 15,000|
Deutsche Bank Savings Account Interest Rate
Deutsche Bank savings account comes with interest rates of 4%, depending on the daily balance, and the type of account. Do keep in mind that the rates are subject to change at the sole discretion of the bank. It is advisable to check with the Bank for accurate rates.
Deutsche Bank Savings Account Charges
Different Deutsche Bank savings accounts have a different schedule of charges. It is best to contact the Bank directly for the most up to date charges.
How to open a Deutsche Bank Savings Account
It is simple to open a Deutsche Bank savings account. You can visit your nearest branch and have a customer care representative help you with the forms. You can talk to the representative about your saving needs and open an account accordingly.
Alternatively, you can open a savings account online. You need to fill the online account opening form and submit it online. You will be contacted once your form is received.
Deutsche Bank Savings Account FAQS
What is the best interest rate on a Deutsche Bank saving account?
The interest rates are currently at 4 %. For the latest interest rates, it is best to contact the nearest branch.
Who is eligible to open a Basic Savings Account with Deutsche Bank?
All resident individuals, expats, singly or jointly, minors along with parent or legal guardian, are eligible to open an account.
Is it possible to open a Deutsche Bank savings account online?
Yes, you can open a savings account online. You need to fill in and submit the online account opening form on their website. Once your application is received, you will be contacted by a bank representative.