Saraswat Co. Op Bank Ltd increases its FD rate to 10.25% for 2 years

Visit: http://www.saraswatbank.com/view_section.jsp?lang=0&id=0,88,89 for more details
Deposit Scheme Interest Rates

The interest rate on term deposits w.e.f 19th October,2011. 

Tenor	Rates for All categories (% p.a)
15 days to 90 days	6.75
91 days to 179 days	7.50
180 days only	9.00
181 days to less than 1 yr	7.90
12 months only	9.25
Above 1 year but less than 2 years	8.25
2 Years only (BONANZA - II)	10.25
Above 2 years but less than 3 years	9.50
3 years to less than 5 years	8.25
5 years and up to 7 years	8.50

For Senior Citizens:

Tenor	Rates for All categories (% p.a)
15 days to 90 days	6.75
91 days to 179 days	7.50
180 days only	9.00
181 days to less than 1 yr	7.90
12 months only	9.25
Above 1 year but less than 2 years	8.25
2 Years only (BONANZA - II)	10.25
Above 2 years but less than 3 years	10.00
3 years to less than 5 years	8.25
5 years and up to 7 years	8.50

Deposits under Kalpataru Deposits scheme will be accepted for a period of above 12 months but up to 18 months.

Deposits under Recurring Deposits scheme will be accepted for a period of above 12 months but up to 18 months.

Interest Rate on Madhukar Scheme will be at 8.00% p.a.

Bank will be charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit. Besides the existing practice of charging penal interest (1%) on premature withdrawal of deposits will continue.

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