According to government records, the town was earlier known as Saraswati Tirth which was later under Muslim rule renamed as Mustafabad. It was officially renamed to Saraswati Nagar via a notification by the BJP government in 2016 after the Sarasvati River's paleochannelflowing through there.
India census, Saraswati Nagar had a population of 8513. Males constitute 53% of the population and females 47%. Saraswati Nagar has an averageliteracy rate of 72%, higher than the national average of 59.5%: male literacy is 77%, and female literacy is 68%. In Saraswati Nagar, 12% of the population is under 6 years of age. The town has majority Hindu population with all major religions.