Saraswat Bank Recurring Deposit Interest Rates 2025
Saraswat Bank offers competitive interest rates, with additional benefits for senior citizens. You can start an RD with as little as ₹500 per month, making it accessible to a wide range of customers. The RD tenure ranges from 12 to 36 months, allowing depositors to choose a duration that suits their goals.
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 to 36 months. The minimum deposit which the bank accepts when it comes to recurring deposits is Rs.5.
The bank also offers individuals the facility of setting standing instructions for deducting money from the savings account and depositing it in the RD account.
Saraswat Bank RD Rates for Deposits Below ₹1 Crore
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.) |
7 days to 14 days | 3.25 | 3.75 |
15 days to 30 days | 3.25 | 3.75 |
32 days to 60 days | 4.00 | 4.50 |
91 days to 179 days | 4.75 | 5.25 |
1 year | 7.15 | 7.65 |
16 months | 7.50 | 8.00 |
16 months 11 days to 24 months | 7.15 | 7.65 |
24 months | 7.25 | 7.75 |
24 months 1 day up to 36 months | 7.00 | 7.50 |
36 months 11 days up to Less than 60 months | 6.75 | 7.25 |
60 months and above up to 120 months | 6.75 | 7.25 |
Saraswat Bank RD Interest Rates for Deposits Between ₹1–2 Crore
Tenure | Interest rates for NRE Term Deposits (% p.a.) |
1 year | 7.15 |
2 years | 7.25 |
Above 36 months up to 60 months | 6.75 |
Rates for NRO Term Deposits Below Rs. 2 crore
Tenure | Interest rates (% p.a.) |
7 days to 14 days | 3.25 |
15 days to 30 days | 3.25 |
32 days to 60 days | 3.25 |
91 days to 179 days | 5.75 |
180 days | 5.75 |
12 months | 7.15 |
16 months | 7.50 |
24 months | 7.25 |
24 months 1 day up to 36 months | 7.00 |
36 months 11 days up to Less than 60 months | 6.75 |
60 months and above up to 120 months | 6.75 |
Saraswat Bank Short-Term Recurring Deposit Interest Rates
Tenures that range between 12 months 1 day to 24 months fall under the bracket of short-term recurring deposits. The bank offer citizens interest in the range of 7.15% p.a. to 7.50% p.a.. for investing in such recurring deposits.
Saraswat Bank Medium-Term Recurring Deposit Interest Rates
Medium-term recurring deposits are those which have a tenure between 24 months 1 day to 36 months. The rate of return offered by the bank is 7.00% 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 120 months. The interest offered to general citizens by the bank on such deposits is 6.25% p.a. - 7.25% 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 3.75% to 7.75% p.a.. The highest interest is paid for depositing in an RD account that has a tenure of up to 10 years.
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FAQs on Saraswat Bank Recurring Deposit Interest Rates
- What is the minimum deposit amount to open a Saraswat Bank recurring deposit account?
The minimum deposit amount is Rs.500.
- Can a minor open a recurring deposit account with Saraswat Bank?
A guardian can open a recurring deposit account in the name of the minor and make monthly deposits till maturity.
- Can I open a recurring deposit account with Saraswat Bank online?
Yes, you can click on the link https://www.saraswatbank.com/product-details.aspx?id=Recurring-Deposits where you will have to click on the ‘Apply Now’ button and provide your details to open a recurring deposit account.
- Are companies eligible to open an RD account offered by Saraswat Bank?
Yes, companies can open an RD account offered by Saraswat Bank.
- Is the nomination facility available if I open a recurring deposit account with Saraswat Bank?
Yes, the nomination facility is available if you open a recurring deposit account with Saraswat Bank.
- Will penalty be levied if I delay my payment or pre-close my account?
Yes, penalty can be levied if you delay your payment or pre-close your account.
- Will TDS be applicable on the interest rate earned?
Yes, TDS will be applicable on the interest rate earned.
- Can I avail a standing instruction facility on opening a recurring deposit account with Saraswat Bank?
Yes, you can avail a standing instruction facility on opening a recurring deposit account with Saraswat Bank where the deposit amount will be deducted from your bank account on the due date.
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