On the occasion of 79th Independence Day of the country, State Bank of India (SBI) has given a very special gift for the fire. Now the fireworks serving under the Agniveer scheme will be able to get a personal loan of up to Rs 4 lakh without any guarantee. This step is towards empowering those youth who protect the country by serving the army for a few years.
Without guarantee, without processing fees – loan will be given directly
Under this scheme, the firemen will not have to give any kind of property or guarantee for the loan. Also, the processing fee that is incurred on taking a loan has also been completely forgiven. That is, the firemen will not have to bear any extra expenses to take a loan.
SBI said that this scheme is only for those firemen whose salary account is in SBI. Due to this, the bank already keeps the information about the income and service status of the fire, which makes the loan process even easier.
Relief will also be given in repair
SBI has also made loan repair easy and flexible. The longer the fireworks have to serve in the army, the more time they have to pay this loan. This will not make them feel any additional economic pressure and they will be able to repay the loan comfortably during their service period.
Special interest rate for defense personnel
SBI has given another major relief not only for the fire, but also for all the defense personnel. By 30 September 2025, all the defense forces personnel will be given a minimum interest rate of only 10.50% on personal loans. Usually these rates are higher than this.
SBI chairman said, “This is just the beginning”
Announcing the scheme, SBI Chairman CS. Shetty said, “We believe that the youth who dedicate their lives to protect the country are entitled to our full support to groom their future. This zero processing fee is just the beginning. In the coming time, we will continue to bring more such products that will strengthen our heroes at every step.