Saraswat Co-operative Bank RD Interest Rates 2026
Save a fixed amount every month with a Saraswat Bank recurring deposit. RD rates go up to 7.00% for regular customers and 7.40% for senior citizens, with instalments from ₹500. One of India’s largest urban co-operative banks; deposits are DICGC-insured.
Rates effective 1 Jul 2026 · Checked 27 September 2026Saraswat Bank recurring deposit at a glance
Saraswat Bank RD interest rates
| Tenure | General (p.a.) | Senior citizen (p.a.) |
|---|---|---|
| 1 year | 6.60% | 7.10% |
| Above 1 year – 2 years | 6.60% | 7.10% |
| Above 2 years – 3 years | 6.80% | 7.30% |
| Above 3 years – 5 years | 7.00% | 7.40% |
Saraswat Bank applies its term-deposit (FD) card to RDs of the same tenure. Source: www.saraswat.bank.in. Confirm with the bank before opening.
What your monthly savings will become
| Tenure | Rate (general / senior) | ₹2,000 / month | ₹5,000 / month | ₹10,000 / month |
|---|---|---|---|---|
| 1 year | 6.60% / 7.10% | ₹24,871 | ₹62,177 | ₹1,24,353 |
| 2 years | 6.60% / 7.10% | ₹51,424 | ₹1,28,560 | ₹2,57,119 |
| 3 years | 6.80% / 7.30% | ₹80,024 | ₹2,00,059 | ₹4,00,118 |
| 5 years | 7.00% / 7.40% | ₹1,43,866 | ₹3,59,664 | ₹7,19,328 |
General rate, quarterly compounding, before tax. “—” = no published slab for that exact tenure.
Saraswat Bank RD calculator
Rules & charges
| Feature | Details |
|---|---|
| Minimum instalment | ₹500 |
| Tenure | 12 months to 60 months only (w.e.f. 07 Jul 2026) |
| Missed / late instalment | Penalty may be levied on delayed instalments (amount not stated) |
| Premature closure | 1% below applicable rate for period deposit remained with bank |
| Loan against RD | Usually available up to 80%–90% of the balance |
| Nomination | Up to 4 nominees (from 1 Nov 2025) |
| Deposit insurance | DICGC up to ₹5 lakh per depositor (with other deposits at Saraswat Bank) |
Tax on Saraswat Bank RD
| Point | Rule |
|---|---|
| Taxability | Interest taxed at slab rate every year |
| TDS | 10% once FD + RD interest from Saraswat Bank exceeds ₹50,000 a year (₹1 lakh for 60+); 20% without PAN |
| Avoid TDS | Submit Form 121 (earlier 15G/15H) if your tax is nil |
| Deduction | No 80C; seniors can claim up to ₹50,000 under 80TTB (old regime) |
How to open a Saraswat Bank RD
- OnlineNet banking or mobile app → Deposits → Open Recurring Deposit. Choose instalment, tenure, debit date and nominee.
- BranchFill the RD form with KYC and give a standing instruction from your savings account.
- Set auto-debitSchedule the debit a day after salary credit to avoid missed instalments.
Documents
- PAN or Form 60
- Aadhaar / other address proof
- Age proof for senior citizen rate
Compare Saraswat Bank with other banks
| Bank | Highest | 1 year | 5 years | Min. instalment |
|---|---|---|---|---|
| Bandhan Bank | 7.25% | 7.00% | 5.85% | Rs 100/month, multiples of Rs 1 |
| YES Bank | 7.00% | 6.65% | 6.75% | Rs 1,000/month |
| IndusInd Bank | 7.00% | 6.75% | 6.65% | ₹1,000 |
| Tamilnad Mercantile Bank | 7.00% | 6.80% | 6.70% | — |
| Dhanlaxmi Bank | 7.00% | 6.25% | 6.50% | Rs 1,000/month, multiples of Rs 500 |
| Saraswat Co-operative Bank | 7.00% | 6.60% | 7.00% | ₹500 |
| South Indian Bank | 6.80% | 6.25% | 5.70% | ₹100 |
| Federal Bank | 6.75% | 6.25% | 6.40% | Rs 50/month, multiples of Rs 10 |
Frequently asked questions
What is the highest RD interest rate at Saraswat Co-operative Bank?
Saraswat Bank pays up to 7.00% on RDs (Above 3 years – 5 years) and up to 7.40% to senior citizens (rates effective 1 Jul 2026).
How much will ₹5,000 a month grow to in a Saraswat Bank RD?
In 5 years at 7.00%, ₹3 lakh of instalments grow to about ₹3,59,664.
What is the minimum RD instalment at Saraswat Bank?
The minimum monthly instalment is ₹500. Tenure: 12 months to 60 months only (w.e.f. 07 Jul 2026).
What if I miss an instalment?
Saraswat Bank: Penalty may be levied on delayed instalments (amount not stated).
Can I close a Saraswat Bank RD early?
Saraswat Bank: 1% below applicable rate for period deposit remained with bank.
Is RD interest taxable?
Yes, at your slab rate. TDS of 10% applies when your total FD + RD interest from Saraswat Bank exceeds ₹50,000 in a year (₹1 lakh for seniors).
Is my RD safe with Saraswat Bank?
RDs are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.
Rates compiled from the bank’s published RD / term-deposit rates for comparison only. FinancePortal is not affiliated with Saraswat Co-operative Bank. Confirm current rates with the bank.