The Saraswat Bank is an urban co-operative based with headquarters based in Maharashtra. It has been in operations since 1918. The bank received its scheduled states from the Reserve Bank of India in 1988. The Saraswat Bank is known to be the first co-operative bank in India to provide Merchant Banking services.
The bank has over 200 branches across six states and holds a relationship with over 125 banks across 45 countries. The states serviced by the bank are Gujarat, Goa, Maharashtra, Delhi, Karnataka, and Madhya Pradesh. The Saraswat Bank has also installed over 200 24-hour ATM’s around the country.
Saraswat Bank offers very competitive interest rates for various deposit schemes. Currently, the bank only services the resident sector. For fixed deposits of INR 3 crore and above, Saraswat Bank offers one of the best interest rates available across the country. Saraswat Bank also accepts deposits under the Kalpataru Deposits Scheme for tenor from 12 months up to 36 months. Below rates are effective from 4 February 2019.
Saraswat Bank Interest rates for domestic deposits February 2019:
| Maturity Time | Deposit Below 50 Lakhs
(% p.a.) |
Deposit 50 lakhs to 3 crore
(% p.a) |
Deposit above 3 crore
(% p.a.) |
|---|---|---|---|
| 7 Days to 30 Days | 4.00% | 5.25% | 5.25% |
| 31 Days to 90 Days | 5.25-6.00% | 5.25-6.00% | 5.25% |
| 90 Days to 180 Days | 6.00% | 6.00% | 6.00% |
| 180 Days to 1 Year | 6.50% | 6.50% | 6.50% |
| 12 Months to 24 Months | 7.35% | 7.35% | 7.60% |
| 24 Months to 36 Months | 7.35% | 7.35% | 7.60% |
| 36 Months to 60 Months | 7.15% | 7.15% | 7.15% |
| 60 Months to 120 Months | 7.00% | 7.00% | 7.15% |
NRO Deposit Rates February 2019:
| Maturity Time | Below Amount 50 Lakhs
(% p.a.) |
Amount 50 lakhs to 3 crore
(% p.a.) |
Amount above 3 crore
(% p.a.) |
|---|---|---|---|
| 7 Days to 30 Days | 4.00% | 5.25% | 5.25% |
| 30 Days to 90 Days | 5.25-6.00% | 5.25-6.00% | 5.25-6.00% |
| 90 Days to 180 Days | 6.00% | 6.00% | 6.00% |
| 180 Days to 1 Year | 6.50% | 6.50% | 6.50% |
| 12 Months to 24 Months | 7.35% | 7.35% | 7.35% |
| 24 Months to 36 Months | 7.35% | 7.35% | 7.35% |
| 36 Months to 60 Months | 7.15% | 7.15% | 7.15% |
| 60 Months to 120 Months | 7.00% | 7.00% | 7.00% |
NRE deposit rates February 2019:
| Maturity time | Interest rate
( % p.a.) |
|---|---|
| 1 Year | 6.50% |
| 12 Months to 24 Months | 7.35% |
| 24 Months to 36 Months | 7.35% |
| 36 Months to 60 Months | 7.15% |
Table Updated: 19 February 2019
Important notes:
- Kalpataru Deposits Scheme is applicable for a period in between 12-36 months only.
- IMadhukar Scheme interest rate will be at 7.00% p.a. which is payable quarterly.
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Check out more details @ http://www.saraswatbank.com/home/page/lowest-personal-loan-interest-rates-maharashtra/Deposit-Scheme-Interest-Rates-EN