India’s largest public sector bank, State Bank of India (SBI), has announced a special personal loan scheme for Agniveers on the occasion of the 79th Independence Day. This scheme has been created for those Agniveers who have a salary account in SBI. The main objective of the scheme is to provide financial convenience to the youth working in the defense services.
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Unsecured loan up to Rs 4 lakh
Under this scheme, Agniveers can get a personal loan of up to Rs 4 lakh. The special thing is that no collateral or guarantee will be required for this. Also, SBI has completely waived the processing fee in this scheme, so that there will be no additional burden on the borrowers.
Interest rate and repayment period
The repayment period of this loan scheme has been fixed as per the Agneepath recruitment program. SBI has fixed a flat interest rate of 10.50 percent for all defense employees. This rate will be effective till 30 September 2025. The bank believes that this scheme will prove to be very helpful for those Agniveers who need immediate financial support during or after the job.
Benefits of the SBI Defense Salary Package
This initiative of SBI is part of its Defense Salary Package, under which many special facilities are given to defense personnel. This includes a zero balance account, a free international gold debit card, unlimited transaction facility from SBI ATMs across the country, and waiver of annual maintenance charge on debit card. Apart from this, personal accident insurance up to Rs 50 lakh, air accident insurance up to Rs 1 crore, and cover of up to Rs 50 lakh for permanent disability are also provided.
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SBI’s network and base
SBI is India’s largest banking institution. As of June 2025, the bank had a deposit portfolio of Rs 54.73 lakh crore and an advance portfolio of Rs 42.54 lakh crore. The bank has a strong network spread across the country with 22,980 branches, 62,200 ATMs, and over 76,800 Business Correspondent outlets. This vast network and trust make SBI a trusted partner for Agniveers.