There've been a few posts on keel bolts - notably Lydia's on dropping and refurbing SS34 Defiance's keel
www.seabreeze.com.au/forums/Sailing/General/Defiance-story-continues-?page=2and also
www.seabreeze.com.au/forums/Sailing/General/Is-your-keel-really-about-to-fall-off--Featuring-Marine-Surveyor-Ben-Sutcliffe-Davis?page=1#19As the owner of a boat with stainless steel keel bolts, I've been looking into this a bit.
We tend to think of stainless steel on boats as 316. But we also know that even 316 stainless rusts ("tea stains" on pulpits and so on), and in particular that it can suffer crevice corrosion, which is corrosion of stainless that occurs in the absence of oxygen. 316 is not intended to be constantly submerged in saltwater.
For those with stainless keel bolts, crevice corrosion isn't an issue if the bolts are, and always have been, kept dry. But of course while the keel may be well sealed on the outside, bolts are often exposed in bilges, and so there is a possibility in older boats that seawater has worked its way down the bolt shaft over a decade or three.
In looking into this I've become aware that there's a lot more to stainless steel than 304 and 316. And in particular there are stainless steels that have been specifically developed to survive constant submersion in saltwater - for example in oil and gas rigs and desalination plants - and even more corrosive environments (eg some kinds of chemical plants).
The measure or resistance to corrosion in stainless steel is the pitting resistance equivalent number (PREN). Pitting resistance is also relevant to resistance to stress and crevice corrosion. It is generally agreed that alloys with a PREN of 40 or more are able to resist pitting and crevice corrosion long term (for many years).
PREN for 304 is generally 17-21, which is why it isn't much use in marine environments.
For 316 PREN is generally about 23 to 29. This is good enough for exposure to sea water, but it will still rust a bit, and it is not intended to be constantly submerged.
Both 304 and 316 are austenitic steels. This relates to the nature of their crystalline structure.
Another type of stainless is known as Duplex. The name comes because it has a hybrid crystalline structure - both ferritic and austenitic.
Duplex 2205 generally has a PREN of 31 to 38, and there is a subset of Duplex known as Super Duplex 2507 which has a PREN generally between 38 to 45. There is a trade marked Super Duplex alloy - Zeron 100 (UNS S32760) - which includes chromium, nickel, molybdenum, nitrogen, copper and tungsten and has a PREN greater than 40.
And there is also a "super austenitic" stainless - AL-6XN (UNS N08367) - which has a much higher nickel content (24%), while still having 20 -22% chromium, 6% molybdenum, plus traces of Nitrogen (0.18-0.25%). AL-6XN has a PREN of 43 to 46.
It is possible to source stainless steel bolts made of Duplex 2205, Super Duplex 2507, Zeron 100 and AL-6XN. These are much superior to 316 in terms of corrosion resistance, including resistance to crevice corrosion. And as luck would have it, they are also significantly stronger than 316 - some are twice as strong.
Another consideration is that duplex stainless steels are magnetic. They are not as strongly magnetic as iron or ordinary steel, but they are not as non-magnetic as 316. If this is an issue, then consider AL-6XN (UNS N08367) which as a type of austenitic stainless, has the same non-magnetic properties as 316.
Of course these varieties of stainless steel are not generally available in your local shop, and they are more expensive than 316.
However, if you are nagged by doubts about your stainless steel keel bolts, such that you plan to replace them, then you may want to consider getting replacements made of one of these stronger and much more corrosion resistant alloys.
If you stick with 316, another consideration is passivation. This is treatment - often with acid (usually nitric, but can be citric), but can also be done in other ways - which removes surface iron and causes formation of a thicker chromium oxide layer that gives stainless its resistance to corrosion. It is used where 316 stainless (and other stainless steels) will be exposed to a more corrosive environment. Done properly, it increases resistance to corrosion including to pitting and crevice corrosion. It doesn't completely prevent corrosion.
PS I should note there are other stainless steel alloys than those mentioned that also have higher corrosion resistance than 316. One is "hyper austenitic" UNS 32707 which has a PREN of 44 to 53. Other examples include the various "Incoloy" alloys produced by the Special Metals Corporation in the US (
www.specialmetals.com/documents/aqueous-corrosion-handbook.pdf).
Obtaining bolts in many of these specialist alloys would likely require finding an overseas supplier willing to fill a small order, which may prove a challenge.