SBI's special loan scheme for Agniveers: All you need to know

State Bank of India (SBI), the nation's largest bank, has unveiled a special personal loan scheme tailored for Agniveers, coinciding with the 79th Independence Day celebrations. This initiative is an extension of SBI's Defence Salary Package and offers a remarkable benefit to Agniveers with salary accounts at the bank. The scheme grants loans up to ₹4 lakh without requiring collateral and waives processing fees entirely. The bank has set a flat interest rate of 10.50% for all defence personnel availing of this scheme, effective until 30 September 2025, with the repayment tenure aligned with the Agnipath recruitment programme.

SBI continues to support its defence customers with a range of benefits under its Defence Salary Package. This package includes a zero-balance account, complimentary international gold debit cards, and unlimited free ATM transactions at all SBI ATMs nationwide. Additional perks involve a waiver of annual maintenance charges on debit cards, personal accident insurance coverage of ₹50 lakh, air accident insurance of ₹1 crore, and permanent disability coverage of up to ₹50 lakh. The bank had a robust deposit base of ₹54.73 lakh crore and advances amounting to ₹42.54 lakh crore as of June 2025, operating through an extensive network of 22,980 branches and 62,200 ATMs across the country.

SBI's extensive branch and ATM network, coupled with its Defence Salary Package offerings, positions it as a leading option for defence personnel seeking financial services. The strong infrastructure and comprehensive benefits provide SBI with a competitive advantage in the banking sector, aiming to fortify its relationship with defence personnel by addressing their specific financial needs. This strategic initiative underlines SBI's commitment to leveraging its expansive resources for customer-centric solutions.