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On the occasion of India’s 79ᵗʰ Independence Day, the State Bank of India introduced a special loan scheme that goes beyond financial support. This particular initiative is dedicated to Agniveers. The scheme recognises the unique nature of their short-term service and the challenges they may face while planning for their future. It offers financial assistance of up to Rs. 4lakh, without any requirement for collateral or guarantors.
There will not be any processing fees for availing this loan. Also, the collateral free loan is offered at a small and fixed interest rate. The terms of this scheme have been carefully created in order to suit the financial situation of Agniveers, both during and after their service.
Check out how this scheme works, and how it can help Agniveers to move forward in life with financial confidence.
This special loan scheme by SBI has been carefully designed to meet the financial requirements of Agniveers. This is made specifically keeping in mind the unique nature of their service under the Agnipath scheme.
|
Feature |
Details |
|
Loan Amount |
Up to Rs. 4 lakh for Agniveers holding an SBI salary account |
|
Collateral Requirement |
No need for a collateral required to take a loan under this scheme. |
|
Processing Fee |
There is no processing charges fee at all |
|
Interest Rate |
Flat 10.50% per annum. It is one of the lowest rates offered to defence personnel and only valid until September 30, 2025 |
|
Repayment Tenure |
Aligned with the duration of Agnipath service, allowing a smooth repayment transition |
Every part of this loan, whether it’s the sanctioned amount, interest rate, repayment terms, or exemption from charges, has been thoughtfully designed to support Agniveers as they prepare for life after service.
As per the various official reports, the interest rate for SBI Collateral Free Agniveer Loan has been set at 10.50% for all eligible defence personnel. This rate will remain applicable until September 30, 2025. SBI has said that this step is an additional benefit, which complements their existing features under its Defence Salary Package (DSP).
Commenting on the launch, SBI Chairman C. S. Setty stated:
“At SBI, we believe that those who are protecting our freedom deserve our staunch support as they build their futures. This zero-processing fee is just the beginning, as we continue to develop solutions that will empower India’s brave hearts in the years ahead.”
This new loan scheme is an extension of the broader support provided under SBI Defence Salary Package (DSP), a well-established initiative tailored to meet the financial needs of defence personnel.
The Agniveer loan scheme adds a significant new layer to SBI’s defence-focused offerings, providing timely and collateral-free financial support created simply for the different service tenure and future goals of Agniveers.
As of June 2025, the SBI recorded a strong financial position, with total deposits standing at Rs. 54.73 lakh crore and total advances reaching Rs. 42.54 lakh crore. These figures reflect the bank’s continued growth and stability in the Indian banking sector. To serve SBI’s large and diverse customer base, the bank operates via an extensive network of 22,980 branches and 62,200 ATMs spread across urban, semi-urban, and rural areas. This wide presence ensures accessible banking services to millions of individuals and families across the country.
Additionally, with the Rs. 4 lakh collateral free loan for Agniveers, starting from August 15, 2025, the State Bank of India has also introduced a nominal fee for IMPS (Immediate Payment Service) transactions where the amount transferred is over Rs. 25,000. This change applies only to digital transfers above this limit, while transfers below Rs. 25,000 will continue to be free of charge. The IMPS transfer charges will be as follows:
Certain categories of customers and transactions will continue to enjoy free IMPS transfers, including:
This update aims to balance operational costs while continuing to provide affordable banking services to most customers.
These revised charges will take effect for retail customers starting August 15, 2025, while corporate customers will be subject to the updated fees beginning September 8, 2025.
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On the occasion of India’s 79ᵗʰ Independence Day, the State Bank of India introduced a special loan scheme that goes beyond financial support. This particular initiative is dedicated to Agniveers. The scheme recognises the unique nature of their short-term service and the challenges they may face while planning for their future. It offers financial assistance of up to Rs. 4lakh, without any requirement for collateral or guarantors.
There will not be any processing fees for availing this loan. Also, the collateral free loan is offered at a small and fixed interest rate. The terms of this scheme have been carefully created in order to suit the financial situation of Agniveers, both during and after their service.
Check out how this scheme works, and how it can help Agniveers to move forward in life with financial confidence.
This special loan scheme by SBI has been carefully designed to meet the financial requirements of Agniveers. This is made specifically keeping in mind the unique nature of their service under the Agnipath scheme.
|
Feature |
Details |
|
Loan Amount |
Up to Rs. 4 lakh for Agniveers holding an SBI salary account |
|
Collateral Requirement |
No need for a collateral required to take a loan under this scheme. |
|
Processing Fee |
There is no processing charges fee at all |
|
Interest Rate |
Flat 10.50% per annum. It is one of the lowest rates offered to defence personnel and only valid until September 30, 2025 |
|
Repayment Tenure |
Aligned with the duration of Agnipath service, allowing a smooth repayment transition |
Every part of this loan, whether it’s the sanctioned amount, interest rate, repayment terms, or exemption from charges, has been thoughtfully designed to support Agniveers as they prepare for life after service.
As per the various official reports, the interest rate for SBI Collateral Free Agniveer Loan has been set at 10.50% for all eligible defence personnel. This rate will remain applicable until September 30, 2025. SBI has said that this step is an additional benefit, which complements their existing features under its Defence Salary Package (DSP).
Commenting on the launch, SBI Chairman C. S. Setty stated:
“At SBI, we believe that those who are protecting our freedom deserve our staunch support as they build their futures. This zero-processing fee is just the beginning, as we continue to develop solutions that will empower India’s brave hearts in the years ahead.”
This new loan scheme is an extension of the broader support provided under SBI Defence Salary Package (DSP), a well-established initiative tailored to meet the financial needs of defence personnel.
The Agniveer loan scheme adds a significant new layer to SBI’s defence-focused offerings, providing timely and collateral-free financial support created simply for the different service tenure and future goals of Agniveers.
As of June 2025, the SBI recorded a strong financial position, with total deposits standing at Rs. 54.73 lakh crore and total advances reaching Rs. 42.54 lakh crore. These figures reflect the bank’s continued growth and stability in the Indian banking sector. To serve SBI’s large and diverse customer base, the bank operates via an extensive network of 22,980 branches and 62,200 ATMs spread across urban, semi-urban, and rural areas. This wide presence ensures accessible banking services to millions of individuals and families across the country.
Additionally, with the Rs. 4 lakh collateral free loan for Agniveers, starting from August 15, 2025, the State Bank of India has also introduced a nominal fee for IMPS (Immediate Payment Service) transactions where the amount transferred is over Rs. 25,000. This change applies only to digital transfers above this limit, while transfers below Rs. 25,000 will continue to be free of charge. The IMPS transfer charges will be as follows:
Certain categories of customers and transactions will continue to enjoy free IMPS transfers, including:
This update aims to balance operational costs while continuing to provide affordable banking services to most customers.
These revised charges will take effect for retail customers starting August 15, 2025, while corporate customers will be subject to the updated fees beginning September 8, 2025.
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