Mumbai: The State Bank of India (SBI) has announced a Special Loan Scheme for Agniveers to commemorate India’s 79th Independence Day, extending exclusive financial benefits to young personnel serving under the Government of India’s Agnipath recruitment programme.
Under the Special Loan Scheme for Agniveers, SBI is offering personal loans up to ₹4 lakh with no collateral requirement and a complete waiver on processing fees.
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Additionally, all defence personnel can avail of the bank’s lowest flat interest rate of 10.50% until September 30, 2025. The repayment period will be aligned with the tenure of the Agnipath scheme, ensuring maximum flexibility and convenience.
Launching the Special Loan Scheme for Agniveers, SBI Chairman C S Setty said: “On the auspicious day of Independence, we are honoured to introduce this exclusive financial product for Agniveers — the young warriors serving our nation with courage.
At SBI, we believe that those safeguarding our freedom deserve unwavering support as they build their future. This zero-processing fee is just the beginning of solutions designed to empower India’s brave hearts for years to come.”
The initiative builds upon SBI’s longstanding commitment to the welfare of armed forces personnel through its Defence Salary Package, which is also available to Agniveers.
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Special Loan Scheme for Agniveers: Package includes
- Zero-balance salary accounts
- Free international gold debit cards
- Unlimited free ATM transactions at SBI ATMs nationwide
- Waiver of annual maintenance charges on debit cards
- Complimentary personal accident insurance of ₹50 lakh
- Air accident insurance of ₹1 crore
- Permanent disability coverage (partial and total) up to ₹50 lakh
With this launch, SBI reinforces its position as a trusted banking partner for India’s defence community, offering financial products that address their unique needs during service and beyond.
