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SBI Loan Scheme For Agniveer: State Bank of India (SBI) has launched a special personal loan scheme for Agniveers recruited under the short-term Agneepath recruitment program of the Government of India on the occasion of 79th Independence Day. SBI announced this on Thursday. Under this loan scheme, Agniveer jawans holding salary account in SBI will be able to get an amount of up to Rs 4 lakh as a loan without any guarantee. Along with this, no processing charge will be levied on it.

Special Loan Scheme for Agniveer Jawans:

The statement further said that the repayment period will be in line with the service period of the Agneepath scheme. In addition, the bank is offering a minimum interest rate of 10.50 per cent to all defense personnel till September 30, 2025.

SBI Chairman C.S. Shetty said, "At SBI, we believe that those who are protecting our freedom deserve our unwavering support in building their future. This zero-processing fee is just the beginning. We will continue to create solutions that will empower India's heroes in the years to come." This initiative is part of the bank's long-term commitment to the welfare of India's armed forces through the Defense Salary Package, which has long been available to Agniveers.

The first batch of Agniveers will retire in 2026

It is worth noting that on June 14, 2022, the Union Cabinet approved an attractive recruitment scheme for Indian youth to serve in the armed forces. This scheme was named Agneepath Yojana, and the youth recruited under it are called Agniveers. In this scheme, the youth get an opportunity to serve in the army for four years, after which they will retire. Thus, the first batch recruited under the Agneepath scheme will retire by the end of 2026.