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New Delhi: The State Bank of India (SBI) has introduced two new deposit schemes for its customers: ‘Har Ghar Lakhpati’ and ‘SBI Patrons’. The announcement was made through a press release on Friday. The Har Ghar Lakhpati RD scheme is a recurring deposit plan designed to help customers systematically save and accumulate Rs 1 lakh or its multiples. On the other hand, the SBI Patrons FD scheme is tailored specifically for senior citizens aged 80 years and above

SBI's Har Ghar Lakhpati FD SchemeThe ‘Har Ghar Lakhpati’ scheme is a recurring deposit (RD) plan designed to help customers accumulate Rs 1 lakh or multiples of it in a structured way. It is available to both adults and minors. This pre-calculated savings scheme aims to simplify customers' financial planning. SBI Patrons FD Scheme 2024The ‘SBI Patrons’ scheme is specifically designed for senior citizens aged 80 years and above. This fixed deposit (FD) scheme offers higher interest rates. The scheme is available to both existing and new fixed deposit investors. What SBI Said?SBI Chairman CS Setty said the bank aims to create deposit products that align with customers' financial goals while maximizing returns. “We are committed to innovation and inclusivity, providing solutions that empower our customers. These schemes are part of our efforts to support financial inclusion and contribute to India’s development journey,” he said. Other Popular SBI Deposit SchemesSBI already offers several deposit schemes with attractive interest rates for senior citizens: SBI WeCare Deposit Scheme: Offers 7.50 per cent interest for 5 to less than 10 years. SBI Amrit Vrishti (444 Days FD): Provides 7.75 per cent interest. Available till March 31, 2025. SBI Amrit Kalash (400 Days FD): Offers 7.60 per cent interest. Available till March 31, 2025. SBI RD Account FeaturesSBI RD accounts can be opened for a minimum period of 12 months and a maximum of 120 months, with a minimum deposit of Rs 100 per month. However, penalties are applied for missed payments, and accounts with six consecutive defaults are closed prematurely.

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