Important Information

External Benchmark Rate

• Effective February 15, 2022 the interest rate on all Floating rate term loans (i.e., Home Loan, Loan Against Property, Unsecured Business Loan, Business Instalment Loan, Working Capital Term Loan and Personal Loan) are benchmarked to 3-months Treasury Bill rate published on the 10th of every month (or the next working day if 10th is a holiday) by Financial Benchmarks India Private Limited (FBIL).  The rate is rounded off to the nearest 0.05% to arrive at the applicable rate.  This rate is termed as EBTL and would be used as benchmark rate for all loans booked from 15th of a month to the 14th of the next calendar month.
  
• Effective February 15, 2022 all Working Capital and Overdraft facilities are benchmarked to the MBOR which means the Overnight Mumbai Inter-Bank Offer Rate (MIBOR) which is published by Financial Benchmarks India Private Limited (FBIL) or any other benchmark administrator (as designated) by the Reserve Bank of India from time to time . The MBOR will be determined based on the MIBOR published by Financial Benchmarks India Pvt. Ltd. (FBIL) on the last working day of the month and would be used as benchmark rate for all facilities booked from 7th of a subsequent month till the 6th of the next calendar month after that month.
  
• Loans extended as Guaranteed Emergency Credit line (GECL) under the 100% guaranteed Emergency Credit Line Guarantee Scheme (ECLGS) from National Credit Guarantee Trustee Company Ltd (NCGTC) are benchmarked to the Repo rate published by RBI. The Repo rate as prevailing on the 10th of every month (or the next working day if 10th is a holiday) along with the mark-up would form the External benchmark lending rate, referred to as RBLR (Repo Linked Benchmark Lending Rate) and would be used as benchmark lending rate for all loans booked from 15th of a month to the 14th of the next calendar month. (rounded off to the nearest 0.05%)

Switch to external benchmark for existing customers

Existing customers of the bank are provided with an option to migrate to the external benchmark free of charge. Kindly note a reverse movement to your earlier benchmark would not be possible once you opt for the external benchmark. Please reach out to your relationship manager or write to us at premium.care@db.com for more details.

Loans and facilities disbursed / renewed up to February 14, 2022 have the following external benchmark rate.

MBLR = 6.61% (Overnight MIBOR published by FBIL website available on October 31, 2024) + markup of 2.90% = 9.50% (Calculated MBLR rounded off to the nearest 0.05%)

TBLR = 6.45% (3 - Months Treasury Bill Rate published by FBIL, available on its website on November 11, 2024) + markup of 3.12% = 9.55% (Calculated rate rounded off to the nearest 0.05%)

Loans and facilities disbursed / renewed upto June 21, 2020 have the following external benchmark rate.

Marginal Cost of Funds based Lending Rate (MCLR)

Effective November 07, 2024, the Marginal Cost of Funds based Lending Rate (MCLR) for Deutsche Bank AG, India branches is as below:

The determination and application of the MCLR will be in accordance with the guidelines issued by the Reserve Bank of India from time to time. Customers may contact their respective Account / Relationship Manager for any further information / clarifications in this regard.

Base Rate

Effective November 07, 2024, the Base Rate for Deutsche Bank AG, India branches is 10.20% per cent per annum. The determination and application of the Base Rate will be in accordance with the guidelines issued by the Reserve Bank of India from time to time. Customers may contact their respective Account / Relationship Manager for any further information / clarifications in this regard.

Savings Account Interest Rate

With effect from December 01, 2022, the interest rate applicable on Savings Bank Accounts is 3.00% per annum. The interest on Savings Bank Accounts will continue to be calculated on daily product basis in line with the guidelines issued by the Reserve Bank of India, instead of the earlier methodology of calculating Savings Bank interest on the least balance between the 10th and the end of the month. The interest on Savings Bank Accounts will be paid at quarterly intervals i.e. on 31st March, 30th June, 30th September and 31st December every year.

External benchmark for Corporate

Corporate Bank proposes to use the Government of India Treasury Bill yield (TBill) and the published by the Financial Benchmarks India Private Ltd (FBIL) as the External Benchmarks, for its products. TBill rate for the respective maturity prevailing on the date of disbursement or rollover or reset will be used as benchmark. Accordingly,

• All floating rate Trade Finance to be benchmarked to the TBill published by FBIL. It will be at customer discretion to opt tenor bucket.

• All floating rate Cash loans (Cash Credit/ overdraft) to be benchmarked to the TBill published by FBIL. 

• All floating rate Term Lending products 
     - Terms Loans with tenor upto 6 months to be benchmarked to the TBill published by FBIL.
     - Term Loans with tenor greater than 6 months to be benchmarked to the Treasury Bill published by FBIL.
     - It will be at customer discretion to opt tenor bucket.

• TBill rate for the respective maturity prevailing on the date of disbursement or rollover or reset will be used as benchmark.

Penal charge - all overdue advances shall be charged  at 0.05%  on the overdue outstanding amount only

We refer to  provisions such as “dues”, “overdue”, “first in first out” , “SMA” and “NPA” as stipulated by the Reserve Bank of India in its “Master Circular on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances (IRACP).  Annexure to the guidelines explains the concepts of SMA /NPA classification dates, provides clarifications and illustrative examples on due dates and specification.

In furtherance to the above referred communication, we have to inform you that the funds we receive from you towards repayments of any dues (interest, principal, fees, other charges) on your lending and trade finance loan product, which are received by 6 PM on the due date shall be processed with the same value date as the date of receipt. 

Please feel free to reach out to your Service Manager / Sales Manager in case you have any query or need clarifications in this regard.

• As per Reserve Bank of India's directive dated August 28, 2015, banks will observe public holiday on 2nd and 4th Saturday every month with immediate effect. All other Saturdays of the month will now operate as full working days. Banking services including payment systems such as RTGS, NEFT, Cheque clearing and ECS Services will be unavailable on the 2nd and 4th Saturday of the month. These services would be available through the day on all other Saturdays of the month as any other working day.
• RTGS / NEFT / Demand Draft / Funds Transfer Instructions: All RTGS / NEFT / Demand Draft / Funds Transfer requests received at the branches will have to be supported by a valid cheque from the drawee account.
• ATM Transactions: Please note that with effect from July 1, 2011 in accordance with RBI guidelines, the number of free transactions permitted per month at other bank ATMs for Savings Bank account holders shall be inclusive of all types of transactions - financial (cash withdrawals) and non-financial (including balance inquiry and mini-stmt).
• Migrating to CTS 2010 Standards: As per RBI guidelines, non CTS-2010 Standard compliant cheques should be withdrawn in phased manner with effect from July 31, 2013. Please ensure to use CTS-2010 Standard compliant cheques, hence forth, to avoid any inconvenience. For more details please click here.
• KYC and FATCA / CRS Declarations: Effective 1st January, 2016 mutual funds investors are required to submit Supplementary KYC and FATCA / CRS declarations to the respective MF registrars / fund houses, failing which no further investments would be permitted. Click here for online declaration.
• Please note that, effective 1st July, 2017, Government of India has implemented Goods and Services Tax (GST), hence all the existing Goods and Services Tax rate of 15% on applicable charges are replaced by 18%.
• Click here to know the Deutsche Bank AG Provisional GST number / ID
• Click here for GSTIN registration form for customer / vendor

• The General Business Conditions govern the entire business relationship between the customer and the Bank's domestic offices (hereinafter referred to as the “Bank”). In addition, particular business relations (such as securities transactions, card-based payments, use of cheques, savings accounts, credit transfers) are governed by Special Conditions, which may contain deviations from, or are in addition to, these General Business Conditions (hereinafter referred to “Special Business Conditions”). In addition, the Bank may devise its own rules for engaging with customers based on the residency of the customer in a particular country, then such rules may be treated as Special Business Conditions. The Special Business Conditions are agreed with the customer when the account is opened or other services are availed of. If the customer also maintains business relations with foreign offices / branches of the Bank, the Bank's lien (No.14 of the General Business Conditions) also secures the claims of such foreign offices / branches.