With a strong presence across 8 states and a business size of approximately ₹91,800 crore, Saraswat Bank FD rates are backed by the bank’s financial stability and growth.

Recently, the Reserve Bank of India approved the voluntary merger of New India Co-operative Bank with Saraswat Bank, further strengthening its position.

With 311 branches and a history of successful takeovers, Saraswat Bank continues to assure investors of security, trust, and sustainable returns.

Looking for better interest rates? Download the Stable Money app on your phone and book an FD to get up to 8.0% int3erest rate. Hurry up!

Features and Benefits of Saraswat Bank Fixed Deposit

1. Your funds are safe with assured returns.
2. You can open an FD with a minimum deposit of ₹1,000.
3. Premature withdrawal facility and overdraft available (terms and conditions apply).
4. Loan facility up to 90% of principal and accrued interest, subject to bank discretion.
5. Competitive interest rates with flexible tenure options.
6. Nomination facility available for all depositors.
7. Interest rates are subject to change; applicable rates will be as on the value date of the FD.
8. Deposits are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) Scheme.

Different Types of Fixed Deposits Offered by Saraswat Bank

1. Saraswat Fixed Deposit (Regular Deposit): A short-term FD where simple interest is paid on maturity. Tenure ranges from 7 days to 364 days.
2. Saraswat Fixed Deposit (Monthly Deposit): A scheme offering monthly simple interest payouts. Tenure varies between 12 months and 120 months.
3. Saraswat Fixed Deposit (Quarterly Deposit): Interest is paid on a quarterly basis under this plan. Tenure ranges from 12 months to 120 months.
4. Saraswat Fixed Deposit (Cumulative Deposit): Interest is reinvested quarterly and paid along with the principal at maturity. Tenure is 12 to 36 months.
5. Saraswat Recurring Deposit: A savings-oriented scheme where deposits are accepted for 12 to 36 months.

NOTE: Tenures may be revised by the Bank from time to time.

Eligibility to Invest in Saraswat Bank Fixed Deposit

1. Individuals (single or joint holders)
2. FD for Minors under a parent or guardian
3. Organisations
4. Co-operative societies

Documents Required to Open a Fixed Deposit at Saraswat Bank

1. Duly filled Saraswat Bank FD form
2. Identity and Address Proof: Aadhaar, PAN, driving licence, or passport
3. Age Proof: Birth certificate, matriculation certificate, or discharge certificate

Tax Implications on Saraswat Bank Fixed Deposit

Investments in Saraswat Bank Fixed Deposits with a tenure of 5 years or more qualify for deductions under Section 80C of the Income Tax Act, up to ₹1,50,000. However, interest earned is subject to TDS unless the depositor submits Form 15G or Form 15H, if eligible.

These forms must also be resubmitted in April every financial year for verification to ensure tax compliance.

Saraswat Bank's FD rates are competitive with flexible tenures and assured safety, making it a trusted place for investment for individuals seeking secure growth and reliable returns.

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