SBI introduces collateral-free loans up to ₹4 lakh for Agniveers with zero processing fee and a flat 10.50% interest rate. IMPS online transfers above ₹25K now incur nominal charges.
New Collateral-Free Loan Scheme for Agniveers
Overview
- SBI offers a special personal loan for Agniveers holding an SBI salary account.
- Borrow up to ₹4 lakh with no collateral and zero processing fee.
Interest Rate & Tenure
- Interest Rate: A flat 10.50% interest rate valid until September 30, 2025.
- Tenure: Repayment tenure synchronized with the term of the Agnipath scheme.
Broader Context
- This initiative complements SBI’s Defence Salary Package.
- Benefits include zero-balance accounts, free debit cards, unlimited ATM withdrawals, and insurance coverage.
Revised IMPS Charges for Online Transfers Over ₹25,000
Policy Change
- Effective August 15, 2025, SBI has introduced nominal IMPS charges for online transfers exceeding ₹25,000.
Fee Structure
- Up to ₹25,000: No charge
- ₹25,001 to ₹1 lakh: ₹2 + GST
- ₹1 lakh to ₹2 lakh: ₹6 + GST
- ₹2 lakh to ₹5 lakh: ₹10 + GST
Exemptions
- IMPS transfers via SBI branches and specific account holders are exempt from fees.
Roll-out
- Changes apply from August 15, 2025, for retail customers.
- Corporate customers will see revised charges from September 8, 2025.
Key Takeaways for Competitive Exams
- SBI launches collateral-free loans up to ₹4 lakh for Agniveers with a flat 10.50% interest rate.
- Revised IMPS charges introduced for online transfers exceeding ₹25,000 from August 15, 2025.
- Defence personnel and digital banking users stand to benefit from these new initiatives.
