The Club came into existence in the year 1875 and then moved into it's present premises in 1900. The officers of the Calcutta Light Horse Regiment were among the Club's founders and when the Regiment was disbanded after India's Independence, the Regiment Trophies were housed in the bar called "Light Horse Bar" which still retains the same old decor & atmosphere.

For a princely sum of 'Rupees Five', John Carapiet Galstaun of 234/4, Lower Circular Road assigned premises no. 7 Wood Street to Saturday Club.

John had a 51 years lease with the owners of the premises - the Trustees and Shebaits of the Rajendra Mullick Bahadur of Marble Palace.