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Many banks in India have come up with special loan schemes for the army and defence personnel of the nation. These loan schemes offer finances to defence personnel’s to suit their loan requirements. There are different kinds of loans especially for the defence personnel including personal and home loans. Let us look into loans for defence personnel in India.
Oriental Bank of Commerce is well known for its wide range of unique and efficient financial products. The bank offers a special loan scheme for defence personnel in India. The loan to Defence Personnel by OBC is a personal loan scheme that offers finance to meet personal expenses incurred from weddings, family function, education and more. Working Defence Personnel with minimum of one year of service, personnel of paramilitary forces like BSF, ITBP, CRPF, Coastal Guards, CISF, Assam/ J&K Rifles are eligible for the loan. Listed below are the main features and fees/charges of the loan:
SBI Shaurya Home loan is a home loan scheme designed specifically for the army and defence personnel of the nation. Only defence and army employees are eligible for this home loan scheme. The defence personnel’s can avail benefits such as low rate of interest and various other benefits from this home loan that they probably wouldn’t get in regular home loans. Long tenure and easy repayment option is another added advantage of the home loan scheme. Listed below are the main features and fees/charges of the loan:
These are some of the famous loans for defence personnel in India. Though there aren’t many loan options that cater only to the defence personnel, many banks offer special rates and additional benefits in their regular loan schemes for the defence personnel.