SBI: State Bank of India has announced a special personal loan scheme for Agniveers on the occasion of the 79th Independence Day. This new scheme is available to Agniveers who have a salary account with SBI. Under this scheme, Agniveer will provide a loan of up to Rs 4 lakh without any collateral. Additionally, the loan processing fee has been completely waived. Under this SBI scheme, neither a guarantee will be required nor a processing fee will be payable. Under this scheme, Agniveers can get a personal loan of up to Rs 4 lakh without any collateral. The best thing is that the interest rate on this has also been kept very low.
Through this loan scheme, Agniveers can get a loan of up to Rs 4 lakh from their salary account. SBI stated that the repayment time limit for this loan will be determined based on the service period of Agniveers. This means that there will be no problem in repaying the loan.
Repayment and interest rate
According to news published in Business Standard, SBI has announced that it will provide loans to all defence personnel at a flat interest rate of 10.50 per cent under this scheme. This offer is valid until September 30, 2025. The most important thing is that the processing fee will be waived entirely. This scheme can prove helpful for Agniveers who feel the need for an immediate loan during or after their service.
SBI’s Defence Salary Package
This initiative of SBI will be based on its Defence Salary Package. Many facilities are given under this package. Benefits such as a zero-balance account, a complimentary international gold debit card, and unlimited free transactions from SBI ATMs nationwide are also being offered. Apart from this, personal accident insurance up to Rs 50 lakh, air accident insurance up to Rs 1 crore have been included.