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.
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.
Recurring Deposit
