SBI Agniveer Loan Scheme, Free Loan upto Rs.4 Lakh without Security and Fees
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State Bank of India (SBI) has announced the launch of a special personal loan scheme for Agniveers under Agnipath recruitment programme. This announcement was made on the occasion of the 79th Independence Day.
Under this loan scheme, Agniveers having salary account at SBI can avail loans up to Rs 4 lakh without any collateral security. Moreover the processing fee on loans has also been waived off for Agniveers.
The repayment tenure will align with the term of the Agnipath scheme.
In addition to this, SBI is offering the lowest interest rate of flat 10.50 per cent to all defence personnel till September 30, 2025, it said.
SBI Chairman C S Setty said, “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.”
| Feature | Details |
|---|---|
| Scheme Name | Special Personal Loan Scheme for Agniveers |
| Eligibility | Agniveers with salary account at SBI |
| Loan Amount | Up to ₹4 lakh |
| Collateral Requirement | No collateral security required |
| Processing Fee | Nil (waived off for Agniveers) |
| Repayment Tenure | Aligned with the term of the Agnipath scheme |
| Special Offer for Defence Personnel | Flat 10.50% interest rate till September 30, 2025 |
Notably, on June 14, 2022, the Union Cabinet approved the Agnipath Yojana, an ambitious recruitment programme for Indian youth to serve in the armed forces. Under this scheme, recruits — known as Agniveers — serve a tenure of four years in the military, after which they retire. As a result, the first batch of Agniveers, recruited in 2022, is scheduled to retire by the end of 2026.
