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Saraswat Bank FD Interest Rates (p.a.) Highlights – 2025 |
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| Highest slab rate | 7.50% (for 16 months) |
| For 1 year | 7.15% |
| For 2 years | 7.25% |
| For 3 years | 7.00% |
| For 4 years | 6.75% |
| For 5 years | 6.75% |
The interest rates are updated as of 6 February 2025
Saraswat Bank FD Rates
Saraswat Bank- Fixed Deposit Rates on Domestic deposits and NRO less than Rs 1 crore w.e.f. 2 December 2024
| Tenor |
Interest Rates (% p.a) |
|
| General Public/ NRO | Senior Citizens | |
| 7 days to 14 days | 3.25 | 3.75 |
| 15 days | 3.25 | 3.75 |
| 16 days to 30 days | 3.25 | 3.75 |
| 31 days | 3.50 | 4.00 |
| 32 days to 60 days | 4.00 | 4.50 |
| 61 days | 5.50 | 6.00 |
| 62 days to 89 days | 4.00 | 4.50 |
| 90 days | 5.50 | 6.00 |
| 91 days to 179 days | 4.75 | 5.25 |
| 180 days | 5.75 | 6.25 |
| 181 days to 240 days | 5.75 | 6.25 |
| 241 days to less than 1 year | 6.00 | 6.50 |
| 1 year | 7.15 | 7.65 |
| 1 year 1 day to 1 year 10 days | 7.15 | 7.65 |
| 1 year 11 days up to less than 16 months | 7.15 | 7.65 |
| 16 months | 7.50 | 8.00 |
| 16 months 1 day up to 16 months 10 days | 7.15 | 7.65 |
| 16 months 11 days to less than 24 months | 7.15 | 7.65 |
| 24 months | 7.25 | 7.75 |
| 24 months 1 day to 3 years | 7.00 | 7.50 |
| Above 3 years to 5 years | 6.75 | 7.25 |
| Above 5 years up to 10 years | 6.75 | 7.25 |
Saraswat Bank NRE Fixed Deposit Interest Rates of deposits less than Rs 1 crores w.e.f. 2 December 2024
| Tenor | Interest Rates (% p.a.) |
| 1 year | 7.15 |
| 1 year 1 day to 1 year 10 days | 7.15 |
| 1 year 11 days to less than 16 months | 7.15 |
| 16 months | 7.50 |
| 16 months 1 day to 16 months 10 days | 7.15 |
| 16 months 11 days to less than 24 months | 7.15 |
| 24 months | 7.25 |
| 24 months 1 day to 3 years | 7.00 |
| Above 3 years to 5 years | 6.75 |
Saraswat Bank- Interest Rates on FCNR Deposits w.e.f. 5 February 2025
| Period of Deposit |
USD (% p.a.) |
| 1 year to less than 2 years | 5.45 |
| 2 years to less than 3 years | 4.50 |
| 3 years to less than 4 years | 4.10 |
| 4 years to less than 5 years | 3.60 |
| 5 years | 3.60 |
Saraswat Bank- Interest Rates on RFC Deposits w.e.f. 5 February 2025
| Period of Deposit |
USD (% p.a.) |
| 1 year to less than 2 years | 5.45 |
| 2 years to less than 3 years | 4.50 |
| 3 years | 4.10 |
RFC Savings Deposit (USD) – 0.75%
Types of Saraswat Bank Fixed Deposit Schemes
- Fixed Regular (FR)- This is a short-term deposit scheme wherein simple interest is payable on maturity. The tenure offered is 7 days to 364 days
- Fixed monthly (FM)- The simple interest is payable on a monthly basis under this scheme. The tenure offered is 12 months to 10 years
- Fixed Quarterly (FQ)- The simple interest is payable on a quarterly basis. The tenure offered is 12 months to 10 years
- Kalpataru deposit (KD)- The interest on the deposit is reinvested on a quarterly cumulative basis and is repaid on maturity along with the principal amount. The tenure offered is 12 months to 3 years
Saraswat Bank Features of Fixed Deposit Scheme
- Minimum deposit amount: Rs 1,000
- Overdraft facility against deposits is available subject to applicable terms and conditions
- Depositors can avail loan for up to 90% of deposit amount, at the discretion of the bank
- Nomination and premature facility of FD is available
- Fixed deposits are insured under the Deposit Insurance and Credit Guarantee Corporation of India (DICGC) scheme
Madhukar Tax Saving Deposits
- Deposits under this scheme are eligible for the tax deduction of up to Rs 1.5 lakh in each financial year under Section 80C
- Deposit amount: Minimum: Rs. 5,000; Maximum: Rs 1.5 lakh
- Tenure: 5 years (lock in period)
- The interest is payable quarterly on quarterly rest
- Nomination facility is available
- Premature withdrawal of deposits is not allowed
Saraswat Bank- FD Schemes for NRIs
Foreign Currency Non Resident (FCNR) Deposit
- Depositors can maintain deposits in USD and EUR
- Tenure: 1 year to 5 years
- The maturity proceeds are payable in foreign currency
- Both the principal and interest amount are freely repatriable
- Depositor can avail loan against FCNR(B) deposits except in case of carrying/relending on agricultural/real estate business/plantation activities
- Nomination facility is available
- Account can be opened/credited with remittances from abroad through personal cheques drawn on foreign bank accounts/normal banking channel/transfer from existing FCNR/NRE accounts/foreign exchange brought during visit to India
Non-Resident External (NRE) Deposit Account
- The account is maintained in Indian Rupees
- Tenure: 1 year to 5 years
- Both the principal and interest amount are freely repatriable
- Depositor can avail loan against NRE deposits except in case of carrying/relending on agricultural/real estate business/plantation activities
- Nomination facility is available
Non-Resident Ordinary (NRO) Account
- The account is maintained in Indian Rupees and can be jointly opened with non-residents/residents
- The balances in NRO accounts can be repatriated outside India with a limit of USD 1 million per financial year
- Nomination facility is available
- Depositor can avail loan against NRO deposits except in case of carrying/relending on agricultural/real estate business/plantation activities
Resident Foreign Currency Account
- PIOs and NRIs who are returning to India to settle permanently can open RFC account
- Depositor can open account in USD & EURO
- The account can be opened jointly with the person eligible to open RFC account
- The assets maintained abroad can be invested freely in RFC account
- The balances can be used to make bonafide payments abroad
- Withdrawals (in Rupees) can be made in India for making payments