Deutsche Bank Hikes Deposit Rates

Deutsche Bank has announced the hike of interest rates on fixed deposits by 50 to 165 basis points for its retail customers with immediate effect. For deposits of 181-270 days, the interest rate has been increased to 8.75 per cent (7.10 per cent) while on deposits of up to 100 days, the revised interest rate is 8.25 per cent (7.75 per cent). It has also marked up interest rates on deposits of up to 89 days to 8 per cent (7.5 per cent), on 90-99 days to 8 per cent (7.10 per cent) and on 101-180 days to 8.25 per cent (7.25 per cent). Customers making fresh term deposits of more than Rs 2 lakh can also open a savings account with no average quarterly balance requirement and which comes with features, including an International Gold Debit Card, free access to VISA ATMs in India and free cash withdrawal at over 30,000 ATMs in 40 countries.