SBI Launches Collateral‑Free ₹4 Lakh Loan for Agniveers; Revises IMPS Charges for Online Transfers Above ₹25,000
On the occasion of India’s 79th Independence Day, the State Bank of India (SBI) launched a thoughtful personal loan scheme tailored for Agniveers—those serving under the short‑term Agnipath recruitment programme—and simultaneously updated its IMPS transaction fee structure. These moves are set to significantly benefit defence personnel and digital banking users alike.
SBI has introduced a special personal loan for Agniveers holding an SBI salary account, allowing them to borrow up to ₹4 lakh with no collateral and zero processing fee.
A flat 10.50% interest rate, the lowest offered to all defence personnel, is valid until September 30, 2025. The repayment tenure is synchronized with the term of the Agnipath scheme, ensuring flexibility as Agniveers transition back to civilian life.
This initiative complements SBI’s long‑standing Defence Salary Package, which includes perks such as zero‑balance accounts, free debit cards, unlimited ATM withdrawals, and substantial insurance coverage for both personal accidents and air accidents.
Effective August 15, 2025, SBI has introduced nominal IMPS charges for online transfers exceeding ₹25,000. This adjustment impacts digital transactions but preserves free transfers within lower slabs.
Up to ₹25,000 – No charge
The following online transactions remain waived from fees,
These changes apply from August 15, 2025 for retail customers, while corporate customers will see revised charges from September 8, 2025.
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