SBI Patrons Fixed Deposit Scheme

State Bank of India (SBI), the largest bank in India, has introduced a new fixed deposit scheme called ‘SBI Patrons’. This scheme aims to offer customers more financial flexibility and increased benefits. With a market share of approximately 23% in deposits, SBI is enhancing its offerings. To know more about the details of this FD scheme, continue reading.

SBI Patrons FD Highlights 2026

What Is the SBI Patrons FD Scheme?

The State Bank of India (SBI) has introduced a special fixed deposit variant called ‘SBI Patrons’ exclusively for super senior citizens. According to Section 194P of the Income Tax Act, 1961, resident individuals aged 80 years or older qualify as super senior citizens. This scheme offers an additional 10 bps on the interest rates already available to senior citizens. Both new and existing term deposit SBI customers can benefit from this scheme, making it an attractive option for eligible individuals.

SBI Patrons Interest Rates

The SBI Patrons scheme offers enhanced returns to super senior citizens by building upon the existing SBI FD interest rates for senior citizens. The eligible depositors receive the standard senior citizen benefit of 0.50% along with an additional 0.10% interest premium under this scheme. The table below presents the estimated interest rates across different tenures for super senior citizens.

Who Is Eligible to Apply for the SBI Patrons FD Scheme?

Here’s how the eligibility criteria of the SBI Patrons fixed deposit scheme is determined:

• Individuals aged 80 years or above, including SBI staff, can avail of the scheme.
• Both single and joint account holders are eligible, provided the primary account holder is 80 years or older.
• Existing term deposit customers automatically receive the additional interest benefit upon turning 80.
• The system calculates eligibility based on the date of birth entered in the Core Banking System (CBS), requiring no action from account holders.
• The scheme is applicable only for retail depositors with term deposits below ₹3 crore.

How Can Super Senior Citizens Benefit from the SBI Patrons Fixed Deposit Scheme?

Super senior citizens do not need to inform the bank to receive higher interest rates under the SBI Patrons FD scheme. The Core Banking System (CBS) of SBI automatically applies the increased rates based on the date of birth recorded in the system. Moreover, the minimum investment amount of just ₹1,000 makes it highly accessible for super senior citizens to start investing without straining their finances. 

Super senior citizens also benefit from the flexibility of premature withdrawal. This allows them to access their funds in times of financial need without significant hassle. However, a penalty may apply. Overall, the SBI Patrons FD scheme provides an excellent opportunity for super senior citizens to earn higher returns on their deposits effortlessly. 

To avail such similar benefits, you can also consider opening a fixed deposit with Stable Money and get high interest rates up to 8.30%. Download the app and start your investment journey!