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Saraswat Bank Recurring Deposit Interest Rates 2020

The interest paid by Saraswat Bank for opening a recurring deposit account with them is attractive. The tenures provided by the bank ranges between 12 months 1 day to 36 months. The minimum deposit which the bank accepts when it comes to recurring deposits is Rs.5. The bank also offer individuals the facility of setting standing instructions for deducting money from the savings account and depositing it in the RD account.

Listed below are the tenures and interest rates offered by Saraswat Bank when it comes to recurring deposits:

Deposit tenure Interest rate for general citizens (p.a.) Interest rate for senior citizens (p.a.)
12 months 1 day to less than 15 months 7.35% 7.60%
15 months 7.60% 7.95%
15 months 1 day to 24 months 7.35% 7.70%
24 months 1 day to 36 months 7.35% 7.70%

Saraswat Bank Short-Term Recurring Deposit Interest Rates

Tenures that range between 12 months 1 day to 15 months fall under the bracket of short-term recurring deposits. The bank offer citizens interest in the range of 7.35% to 7.60% p.a. for investing in such recurring deposits.

Know more about Recurring Deposit

Saraswat Bank Medium-Term Recurring Deposit Interest Rates

Medium-term recurring deposits are those which have a tenure between 15 months 1 day to 24 months. The rate of return offered by the bank is 7.35% p.a.

Saraswat Bank Long-Term Recurring Deposit Interest Rates

Long-term recurring deposits offered by Saraswat Bank are those which have a deposit tenure between 24 months 1 day and 36 months. The interest offered to general citizens by the bank on such deposits is 7.35% p.a.

Saraswat Bank Senior Citizen Recurring Deposit Interest Rates

When it comes to individuals who are above the age of 60 years, the bank offers interest in the range of 7.60% to 7.95% p.a. The highest interest is paid for depositing in an RD account that has a tenure of 15 months.

News About Saraswat Bank Recurring Deposit Interest Rates

  • Saraswat Bank Revises Recurring Deposit Interest Rates

    Saraswat Bank has revised the interest rates of its recurring deposit (RD) schemes recently. Customers can now earn an interest of 6.75% p.a. for a short term RD of more than 1 year and up to 24 months. The interest rates of medium and long term deposits have also been revised by the bank. For a tenure of 2 years to up to 3 years (medium-term), the interest given by the bank is 7.25% p.a. and for a tenure of 3 years to 10 years (long-term), the interest given by the bank is 7.15% p.a. The bank now offers an interest rate of 7.5% to its senior citizen depositors on short-term and medium-term deposits. Senior citizens can earn an interest rate of 7.4% p.a. on their long-term deposits.

    1 December 2016

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