New Delhi: Marking the 79th Independence Day, State Bank of India (SBI) has introduced a special personal loan scheme exclusively for Agniveers serving under the Government of India’s short-term Agnipath recruitment programme. The initiative aims to provide financial support and flexibility to young soldiers during their service period and beyond.
Affordable Loans with Zero Processing Fee
Under this scheme, Agniveers holding a salary account with SBI can avail personal loans of up to ₹4 lakh without any collateral. The bank has also waived the processing fee entirely, ensuring easy and cost-effective access to credit. Repayment tenure will be aligned with the Agnipath service term, offering maximum convenience to the beneficiaries.
In addition, SBI is offering a special concessional interest rate of 10.50% to all defence personnel until 30 September 2025.
Commitment to India’s Brave Hearts
Launching the scheme, SBI Chairman C S Setty emphasised the bank’s dedication to supporting India’s armed forces. “At SBI, we believe that those who are protecting our freedom deserve our unwavering support as they build their futures. This zero-processing fee is just the beginning as we continue to create solutions that will empower India’s brave hearts in the years to come,” he said.
Extending a Legacy of Defence Support
The new loan offering builds on SBI’s long-standing commitment to the welfare of armed forces personnel. Through its Defence Salary Package, the bank has been providing a range of financial benefits to soldiers, including Agniveers, reinforcing its role as a trusted partner for India’s defenders.
About SBI
State Bank of India (SBI) is the country’s largest public sector bank and a cornerstone of India’s financial system. With a widespread branch network, digital innovation, and dedicated MSME outreach, SBI is a major catalyst in transforming India’s entrepreneurial ecosystem through inclusive and sustainable banking solutions.
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