SBI has launched the “SBI Patrons Term Deposit” scheme for senior citizens over the age of 80, which is generating considerable buzz. This scheme offers super senior citizens higher interest rates than regular senior citizen FDs for investments ranging from ₹1,000 to ₹3 crore, with tenures ranging from 7 days to 10 years.
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The State Bank of India (SBI) introduced a special fixed deposit scheme, the SBI Patrons Term Deposit (FD), for senior citizens over 80 years of age, which is currently gaining widespread attention. The primary objective of this scheme is to provide financial security to super senior citizens and offer them better interest rates on their investments. Designed for senior investors, this scheme offers attractive returns while safeguarding their savings.
Investment Options and Interest Rates
SBI introduced the SBI Patrons Term Deposit (FD) scheme for super senior citizens, i.e., those over 80 years of age. Under this scheme, investors can invest a minimum of ₹1,000 and a maximum of ₹3 crore, and can lock in their funds for a period ranging from 7 days to 10 years. The interest rate on this scheme is slightly higher than regular senior citizens’ FDs, allowing senior citizens with long-term investments to earn better returns. Let us tell you that SBI launched this scheme on January 3, 2025. This scheme is available to both existing and new customers, and through this, super senior citizens can grow their investments in a safe and profitable manner.
Why is it special?
SBI Patrons FD accounts can be opened in single or joint mode. Senior citizens investing for the long term receive better returns than regular Senior Citizens FDs. The marginally higher interest rate and flexible investment options make it attractive for senior investors. This scheme not only provides financial security but also strives to make senior investors feel respected. Through this scheme, SBI has created a reliable investment option for super senior citizens. Investors receive stable and secure returns, along with the option to control their investments. Disclaimer: The Economic Times Hindi does not recommend investing in any stocks, mutual funds, or IPOs. Only information is provided here. Consult a SEBI-registered financial advisor before making any investment.
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