Interest Rates
3.50% – 7.50% p.a.
Time Period
7 days – 10 years
Min - Max Amount
1,000 - No upper limit
Compounding
Quarterly
ENTER AMOUNT
Select Duration
Expected Rate of Return
The future value of investment will be
₹ 0
Invested Amount
₹ 10,000
Est. Returns
₹ 0
Saraswat Bank Limited, India's largest urban co-operative bank, has been a pillar of financial stability and community service since its inception in 1918. Founded as the Saraswat Co-operative Credit Society on 14 September 1918 in Mumbai by visionary leaders like J.K. Parulkar and N.B. Thakur, it was established to provide timely financial assistance to Saraswat families facing hardships such as accommodation shortages, debt burdens, and medical emergencies during the turbulent pre-independence era. Headquartered in the heart of Mumbai's Prabhadevi, the bank has grown from a modest society serving a niche community to a robust institution with a pan-India presence, operating 311 branches and over 350 ATMs across eight states as of March 2025.
The bank's journey mirrors India's socio-economic evolution. In 1933, it transitioned into a full-fledged Urban Co-operative Bank, navigating the challenges of two world wars and the freedom struggle while instilling savings discipline among members. RBI conferred 'Scheduled' status in 1988, and the Platinum Jubilee in 1992 celebrated ₹700 crore in business. The 21st century accelerated transformation: business tripled from ₹4,000 crore in 2000 to ₹15,295 crore by 2007, followed by mergers of seven banks, Business Process Reengineering, and a VISA tie-up for debit cards.
Under Managing Director and CEO Mrs. Arti Patil, who joined as a Probationary Officer in 1992 and brings over 29 years of expertise, Saraswat Bank has prioritised digitalisation, sustainability, and customer empowerment. Patil's leadership has driven a 15% year-on-year deposit growth by mid-2025, enhancing financial inclusion through initiatives like zero-balance accounts and women-centric loans. The bank's CSR efforts, via the Saraswat Co-operative Bank Staff Pensioners' Welfare Trust, touch education, healthcare, and rural development, benefiting thousands annually.
Tenure | Regular Rate (p.a.) | Senior Citizen Rate (p.a.) |
7 days to 14 days | 3.25% | 3.75% |
15 days to 30 days | 3.25% | 3.75% |
31 days to 60 days | 3.50% | 4.00% |
61 days to 90 days | 4.00% | 4.50% |
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 | 6.60% | 7.10% |
1 year 1 day to 1 year 10 days | 6.60% | 7.10% |
1 year 11 days to 2 years | 7.00% | 7.50% |
Above 2 years to 3 years | 6.60% | 7.10% |
Above 3 years to 4 years | 6.50% | 7.00% |
Above 4 years to 5 years | 6.40% | 6.75% |
Above 5 years to 10 years | 6.40% | 6.75% |
Note: The data is as of July 24, 2025
Tenure | Regular Rate (p.a.) | Senior Citizen Rate (p.a.) |
7 days to 14 days | 3.25% - 4.50% | 3.75% - 5.00% |
15 days to 30 days | 3.25% - 4.75% | 3.75% - 5.25% |
31 days to 60 days | 3.50% - 5.50% | 4.00% - 6.00% |
61 days to 90 days | 4.00% - 5.50% | 4.50% - 6.00% |
91 days to 179 days | 4.75% - 5.75% | 5.25% - 6.25% |
180 days to 240 days | 5.75% - 6.00% | 6.25% - 6.50% |
241 days to less than 1 year | 6.00% | 6.50% |
1 year to 2 years | 6.40% - 7.00% | 6.90% - 7.50% |
Above 2 years to 3 years | 6.40% | 6.90% |
Above 3 years to 5 years | 6.30% | 6.80% - 7.00% |
Above 5 years to 10 years | 6.30% | 6.55% - 7.00% |
Note: The data is as of July 24, 2025
Saraswat Bank's Fixed Deposit schemes provide a secure haven for savings, offering predictable returns in an era of market volatility, with rates up to 7.50% p.a. for seniors on key tenures. Compounding quarterly on cumulative options amplifies growth, while simple interest suits short-term needs under 365 days. The low entry barrier of ₹1,000 democratises access, with no maximum limit, allowing scalable investments aligned to goals like education or retirement.
Key benefits include flexibility across 7 days to 10 years, enabling liquidity management, and an extra 0.50% for seniors, boosting yields for pensioners. Overdraft facilities up to 90% of the deposit value offer emergency liquidity without principal disruption, charged only on drawn amounts. DICGC insurance covers up to ₹5 lakh per depositor, ensuring safety. Digital tools like online booking and an FD calculator facilitate projections, while auto-renewal prevents lapses.
This versatile staple for individuals, HUFs, and joint holders features tenures from 7 days to 10 years and rates up to 7.00% p.a. for general public. Interest payout options, monthly, quarterly, or at maturity, cater to income needs, with quarterly compounding for cumulative variants maximising reinvestment. Minimum ₹1,000 investment lowers barriers, while premature withdrawal (post-7 days) incurs a 1% penalty, waived for seniors in select cases.
This scheme mandates a 5-year lock-in with ₹5,000 minimum and ₹1.5 lakh cap per PAN, qualifying for Section 80C deductions. Rates mirror regular FDs at up to 6.40% p.a., payable quarterly, but no premature closure except on death or court order. Exclusive to residents and HUFs, it promotes disciplined saving, ideal for young families optimising ITRs amid rising slabs.
Seniors (60+) are privileged with enhanced rates, adding 0.50% over base, reaching 7.50% p.a. on 15-24 month tenures. Flexible payouts support monthly expenses, and penalty waivers on early exit provide liquidity buffers. Integrated with pension accounts, this variant fosters retirement security, with nomination simplifying legacy transfer.
This innovative scheme features cumulative quarterly reinvestment, ideal for goal-based accumulation like child's education. Tenures 12-120 months yield compounded growth, maturing with principal plus interest, rates akin to FDs up to 7.00% p.a. No interim payouts, but auto-renewal ensures continuity; minimum ₹1,000.
This scheme accepts monthly instalments from ₹100 over 6-120 months, earning up to 6.50% p.a. with quarterly compounding. Penalty-free missed payments (up to three) encourage consistency, suiting gig workers building emergency funds. Maturity lump sum aids big-ticket purchases.
NRE Fixed Deposits are tax-free with full repatriability, rates 3.25%-7.00% p.a. for 1-5 years, while NRO FDs handle Indian income, taxable but with TDS credits. These facilitate seamless remittances, with joint holdings allowed.
These schemes (₹1 crore+) offer negotiated premiums, up to 7.50% p.a. for corporates/SMEs, with custom tenures and callable features. Suited for treasury management, they include sweep-in linkages to current accounts for idle fund optimisation.
Saraswat Bank's FD rates are tiered by tenure to reward longer horizons, starting conservatively for liquidity-focused short terms and peaking mid-duration for balanced growth. Ultra-short 7-14 days yield 3.25% p.a. general (3.75% seniors), escalating to 4.00%-5.75% for 31-240 days, suiting working capital floats. The 241 days-<1 year band hits 6.00% (6.50% seniors), bridging to the pinnacle at 1 year 11 days-2 years with 7.00% (7.50%), incentivising 15-24 month commitments amid rate cycles.
Longer 2-5 years taper to 6.40%-6.60% (6.75%-7.10% seniors), still superior to inflation, while 5-10 years stabilise at 6.40% (6.75%) for legacy planning. Bulk ≥₹1 crore adds 0.25%-0.50% premiums, with NRE mirroring domestic tax-free. This structure optimises tenure picks, blending accessibility with yield maximisation for diversified portfolios.
| Tenure Range | Institution Name | Interest Rate Range (%p.a.) |
|---|---|---|
| 1 year 11 days to 2 years | 7.00› |
 | 15 months – < 18 months | 7.25› |
 | 15 months – < 18 months | 7.00› |
 | 1 year – 2 years | 7.50› |
 | 18 months 1 day – 24 months | 8.15› |
Note: The data is as of July 24, 2025
Investing in a Saraswat Bank Fixed Deposit online begins by accessing the official portal (saraswatbank.com) or 'Saraswat Samruddhi' app, available on iOS/Android. Existing net banking users log in with credentials; newcomers register via mobile OTP, Aadhaar linkage, and PAN. Navigate to 'Deposits' > 'Fixed Deposits', select scheme (Regular, Tax Saver, etc.), enter amount (min ₹1,000), tenure (7 days-10 years), and payout mode.
The integrated calculator forecasts maturity, incorporating compounding. Validate e-KYC with Aadhaar e-sign or video call, fund instantly via UPI, NEFT, or linked account. Receipt generates digitally, with SMS/email alerts; view in dashboard for management. Post-investment, monitor via app for interest credits, renew 15 days pre-maturity, or close early (penalty noted).
Branch investment offers personalised guidance: use the locator for 311 outlets, carry KYC docs. Staff assist form completion, rate quotes (senior upgrades auto-applied), and deposit via cash/cheque/transfer. NRIs access via NRI section, uploading passport/visa for NRE/NRO. Customer care (1800-419-1919) aids 24/7. To enhance, ladder tenures for reinvestment, or pledge for OD at 1% over FD rate.
Eligibility for Saraswat Bank FD accounts is broad, encompassing individuals (single/joint, 18+), minors via guardians, HUFs, societies, co-operatives, and trusts. Residents require Aadhaar/PAN; NRIs need passport/OCI. No income proof mandated, but bulk (₹1 crore+) suits entities with board resolutions. Digital FDs demand e-KYC readiness. Exclusions: minors solo, PEPs (enhanced scrutiny). This inclusivity promotes widespread participation in safe savings.
Minimal documentation streamlines Saraswat Bank FD openings. Identity: PAN (mandatory), Aadhaar, passport, Voter ID, or driving licence. Proof of address: Recent utility bill, bank statement, or passport. Seniors add pension proof. NRIs furnish Form 60/15G, overseas address. Entities submit incorporation, MoA, and resolutions. Two photos, nominee form essential. Digital uses e-KYC, skipping physicals; branches attest copies post-original view. This efficiency accelerates secure deposits.
FD interest from Saraswat Bank is taxed as 'Income from Other Sources' per slab rates (5%-30% + cess, FY 2025-26), with no blanket exemptions save Tax Saver FDs under Section 80C (up to ₹1.5 lakh deduction, 5-year lock). TDS applies at 10% if annual interest tops ₹40,000 (₹50,000 seniors), escalating to 20% without PAN/15G/H. Quarterly payouts trigger TDS; cumulative defers to maturity, but pro-rata calculation holds.
NRIs endure 30.90% TDS on NRO (reclaimable via ITR), NRE tax-free. Budget 2025 tightens high-earner exemptions, prompting diversification. Saraswat's TDS tracker and calculator aid forecasting; submit 15G/H yearly to bypass withholding. Post-tax, a 7.00% FD nets ~5.60% at 20% slab, viable versus peers.
Premature closure at Saraswat Bank is feasible post-minimum tenure (7 days domestic, 1 year NRE), deducting 1% from applicable rate for the period held, exempt for seniors/super seniors. No interest if <7 days; Tax Savers bar exit bar death/court. Apply via app/branch; funds credit T+2 days post-deduction. Bulk limits apply per policy. This fosters flexibility sans undue rigidity.
Access the Saraswat Bank website or app, navigate to Deposits > Fixed Deposits, select scheme and details, complete e-KYC via Aadhaar OTP, and transfer funds for immediate activation. New users register swiftly with mobile verification, ensuring seamless digital onboarding without branch visits.
Saraswat Bank requires a minimum of ₹1,000 for most FDs, fostering inclusivity for modest savers. Tax Saver variants start at ₹5,000, with multiples of ₹100 thereafter for convenience.
Tenures span 7 days to 120 months, accommodating short-term needs to decade-long goals with escalating rates. NRE starts at 12 months, offering tailored flexibility across profiles.
Individuals 18+, residents or NRIs with Aadhaar/PAN for e-KYC, and a valid funding source qualify effortlessly. No savings linkage needed, emphasising digital accessibility for all.
Peak at 7.50% p.a. for seniors on 15-24 month tenures below ₹1 crore. Bulk ≥₹1 crore reaches 7.50% similarly, optimising yields strategically.
Enter principal, tenure, rate in Saraswat's tool to estimate gross maturity, deduct projected TDS/slab tax for net gain. Integrate Tax Saver inputs for 80C projections, refining portfolios annually.
Target 15-24 month tenures for 7.00%-7.50% peaks, elect quarterly compounding, and claim senior/NRI add-ons. Diversify via laddering and Tax Savers for deductions, monitoring rate revisions quarterly.
