Invest in the Deutsche Bank Tax Saver Fixed Deposit and get returns of 10.09% cumulative yield (at 8.25% per annum for 5 years). What's more you can save tax through tax exemption under section 80C of Income Tax Act, 1961*.
- Individuals, either singly or jointly with other individuals including minors represented by guardians and HUF assesse are eligible to open Tax Saving Fixed Deposit account. Joint holder** type of deposits may be issued jointly to two adults or jointly to an adult and a minor, and payable to either of the holders or to the survivor.
- A Tax Saver Fixed Deposit can be opened only for 5 years (no premature closure allowed).
- The minimum amount is Rs. 20,000 and the maximum amount is Rs. 1.5 lakh in a financial year. The deposit is accepted in multiples of Rs. 1,000 only.
- Nomination facility is available under the scheme as per the rules applicable from time to time. No nomination shall be made in respect of a fixed deposit applied for and held by or on behalf of a minor.
- Loans shall not be granted against the tax saving fixed deposit and deposit shall not be accepted as collateral security for any other facilities also.
- Tax shall be deducted at source on the amount of interest paid / credited in the account as per the guidelines issued under the Income Tax Act from time to time.
|Tenure||< Rs. 1 crore|
|Interest Rate||Interest Rate for Senior Citizens#|
Interest Rate per annum (%).
Cumulative yield is calculated till the end of the tenure.
*Under section 80 C of IT act 1961.
**In the case of joint deposits, the deduction from income under section 80C shall be available only to the first holder of the deposit.
#Applicable only for Retail Deposits - Senior Citizens i.e. Resident Individuals of age 60 years & above and excludes Non-Resident individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates.
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SMS FD to 561615
#Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at +91 22 6601 6601. Call charges apply.
- ^This is applicable only for certain tenures. Please refer to the Interest Rates for more details.
- *Conditions apply - Fixed Deposit:
• No interest is payable for all deposits withdrawn prematurely before 7 days
• For premature withdrawal of fixed deposits on 7th day or thereafter, a penal rate of 1% would be charged, i.e., the interest rate applicable will be the rate as on the date of booking for the period for which the deposit has run less applicable penalty.
• Minimum fixed deposit amount is Rs. 20,000
• Interest Rates are subject to change without prior notice
• The stated documentation is subject to change and is at the sole discretion of Deutsche Bank AG.
• Deutsche Bank Tax Saver Fixed Deposit is structured to benefit you the most in terms of this provision. Amount invested up to Rs. 1.5 lakh for a fixed period of 5 years in Tax Saver Fixed Deposit is eligible for deduction under Section 80 (C) of Income Tax Act, 1961.