Independence Day 2025: SBI unveils special loan scheme for Agniveers and Defence Personnel

State Bank of India (SBI) celebrates the 79th Independence Day by launching a special personal loan scheme for Agniveers - young men and women serving in the armed forces under the Government of India’s short-term Agnipath recruitment programme.

Under this loan scheme, Agniveers with a salary account at SBI can avail loans upto ₹ 4 lakh without any collateral and with a complete waiver of processing fee. The repayment tenure will align with the term of the Agnipath scheme, offering maximum flexibility and convenience to our nation’s brave hearts transitioning from civilian life.

In addition to this, the bank is offering lowest interest rate of flat 10.50% to all Defence personnel till 30th September 2025.

While launching the product, C S Setty, Chairman, SBI said, “On the auspicious day of Independence, we are honored to launch this exclusive financial product for Agniveers- the young warriors who are serving our nation with dedication and courage. At SBI, we believe that those who are protecting our freedom, they deserve our unwavering support as they build their futures. This zero-processing fee is just the beginning as we continue to create solutions that will empower India’s brave hearts in the years to come.”

These initiatives build on the Bank’s long-standing commitment to the welfare of India’s armed forces through its Defence Salary Package that has long been available to Agniveers.

The package provides a host of benefits such as zero-balance accounts, free international gold debit cards, unlimited free ATM transactions at SBI ATMs nationwide, waiver of annual maintenance charges on debit cards, complimentary personal accident insurance (₹ 50 lakh) and air accident insurance (₹ 1 crore), as well as coverage for permanent disability (partial and total) up to ₹ 50 lakh, among other privileges.

State Bank of India (SBI) remains the country’s largest commercial bank, leading in assets, deposits, branches, customers, and workforce. It is also among India’s top mortgage lenders, having helped over 30 lakh families achieve their dream of homeownership, with a home loan portfolio surpassing ₹8.5 lakh crore.

As of June 2025, SBI holds deposits of over ₹54.73 lakh crore with a CASA ratio of 39.36%, and advances exceeding ₹42.54 lakh crore. It commands a market share of 27.7% in home loans and 19.03% in auto loans.

SBI has a vast network of 22,980 branches, 62,200 ATMs/ADWMs, and 76,800+ banking correspondent outlets across India.

Digitally, SBI is equally dominant—serving 14.2 crore internet banking users. In Q1 FY26, 66% of new savings accounts were opened via YONO, its integrated digital and lifestyle platform, which now has over 9.04 crore registered users. YONO saw 27.4 lakh new sign-ups and disbursed ₹1,791 crore in pre-approved personal loans during the same period.