On the occasion of the country’s 79th Independence Day, the State Bank of India (SBI) has given a very special gift to Agniveers. Now, Agniveers serving under the Agnipath scheme will be able to get a personal loan of up to ₹4 lakh without any guarantee. This step is aimed at empowering those young individuals who serve in the army for a few years to protect the nation.
No Guarantee, No Processing Fee – Loan Disbursed Directly
Under this scheme, Agniveers will not have to provide any kind of property or guarantee for the loan. In addition, the processing fee normally charged when taking a loan has been completely waived off. This means that Agniveers will not have to bear any extra cost to avail the loan.
SBI stated that this scheme is only for those Agniveers whose salary account is with SBI. This allows the bank to already have information about the Agniveers’ income and service status, making the loan process even easier.
Relief in Repayment as Well
SBI has also made loan repayment easier and more flexible. Agniveers will have to repay the loan within the same period as their tenure of service in the army. This ensures they do not feel any additional financial pressure and can comfortably repay the loan during their service period itself.
Special Interest Rate for Defence Personnel
SBI has provided another big relief not just for Agniveers, but for all defence personnel. Until 30 September 2025, all personnel associated with the armed forces will be given a minimum interest rate of only 10.50% on personal loans. Normally, these rates are higher.
SBI Chairman Says, “This Is Just the Beginning”
While announcing this scheme, SBI Chairman C. S. Shetty said, “We believe that young people who dedicate their lives to protecting the nation deserve our full support in shaping their future. This zero-processing-fee scheme is just the beginning. In the coming time, we will continue to bring more such products that will strengthen our bravehearts at every step.”
