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.
Single term deposit below Rs.2 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 | 3.10 | 3.10 |
| 15 days to 30 days | 3.10 | 3.10 |
| 31 days to 90 days | 3.75 | 3.75 |
| 91 days to 179 days | 4.25 | 4.25 |
| 180 days up to 12 months | 5.10 | 5.10 |
| 12 months 1 day to 12 months 10 days | 5.25 | 5.60 |
| 12 months 11 days to 24 months | 5.30 | 5.65 |
| 24 months 1 day to 24 months 10 days | 5.25 | 5.60 |
| 24 months 11 days up to 36 months | 5.30 | 5.65 |
| 36 months 1 day to 36 months 10 days | 5.45 | 5.80 |
| 36 months 11 days up to Less than 60 months | 5.50 | 5.85 |
| 60 months and above up to 120 months | 5.85 | 6.35 |
Rates for NRE Term Deposits below Rs.2 crore
| Tenure | Interest rates for NRE Term Deposits (% p.a.) |
| 1 year | 5.10 |
| Above 12 months up to 36 months | 5.25 |
| Above 36 months up to 60 months | 5.25 |
Rates for NRO term deposits below Rs.2 crore
| Tenure | Interest rates (% p.a.) |
| 7 days to 14 days | 3.10 |
| 15 days to 30 days | 3.10 |
| 31 days to 90 days | 3.75 |
| 91 days to 179 days | 4.25 |
| 180 days up to 12 months | 5.10 |
| 12 months 1 day to 12 months 10 days | 5.25 |
| 12 months 11 days to 24 months | 5.30 |
| 24 months 1 day to 24 months 10 days | 5.25 |
| 24 months 11 days up to 36 months | 5.30 |
| 36 months 1 day to 36 months 10 days | 5.45 |
| 36 months 11 days up to Less than 60 months | 5.50 |
| 60 months and above up to 120 months | 5.85 |
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 5.25% p.a. to 5.30% 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 24 months 1 day to 36 months. The rate of return offered by the bank is 5.30% 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 5.25% p.a. - 5.85% 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 5.60% to 6.35% 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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