SBI Launches Har Ghar Lakhpati and SBI Patrons Deposit Schemes
| Category | Details |
|---|---|
| Why in News | SBI launched two new deposit schemes: Har Ghar Lakhpati and SBI Patrons. |
| Scheme Names | Har Ghar Lakhpati, SBI Patrons |
| Har Ghar Lakhpati | Pre-calculated recurring deposit to accumulate ₹1 lakh or multiples thereof. Available to minors. |
| SBI Patrons | Specialized fixed deposit for senior citizens aged 80 and above, offering 10 bps higher interest. |
| Tenure (Har Ghar Lakhpati) | 12 months to 120 months (1 year to 10 years). |
| Interest Rates (Har Ghar Lakhpati) | Aligned with fixed deposit rates. |
| Interest Rates (SBI Patrons) | 0.1% higher than senior citizens' FD rates: 6.80% (1 year+), 7.00% (2 years+), 6.75% (3 to <5 years), 6.50% (5-10 years). |
| Target Group | - Har Ghar Lakhpati: General customers, including minors. - SBI Patrons: Senior citizens aged 80+ |
| Launch Date | January 2025 |