Home Banking Loan personal loan Personal Loans for Defence Personnel

Apply Personal Loan for Defence Personnel

Get rapid approval on personal loans for defence personnel in India. Minimal documentation, competitive rates, and exclusive benefits.


Get Instant


Direct Cash



Interest Rates



Personal Loans for Defence Personnel in India

At Fincover, we understand the unique financial needs of our nation’s heroes – the defence personnel who dedicate their lives to protecting our borders and ensuring our safety. It is paramount to ensure the well-being of defence personnel who selflessly work to ensure we live comfortably without fear. To honor their service, we’ve curated a range of personal loan options tailored specifically for defence personnel in India. These loans come with exclusive features and benefits designed to ease their financial journey. State Bank of India (SBI), Indian Overseas Bank (IOB), Punjab National bank (PNB), Union Bank of India, and many other NBFCs

Features of Personal Loans for Defence Personnel

Higher Loan Amounts

 Considering the extensive contribution to the welfare of nation, Lenders issue higher loan amounts to Defence Personnel than the normal segments.

Lower Interest rates

Also, the rate of interest for personal loans for defence personnel is lesser compared to normal individuals.

Quick Approval

Personal loans for defence personnel often feature faster processing times and the applicant will get access to funds in a much shorter duration

Flexible tenure

To accommodate the varied financial situations of defence personnel, these loans offer flexible repayment tenures, allowing borrowers to choose a comfortable repayment schedule.

Minimal Documentation

 Understanding the demanding nature of their job, these loans require minimal documentation, making the application process hassle-free.

No Collateral Required

Most personal loans for defence personnel are unsecured, meaning there’s no need to pledge any assets as collateral, ensuring the safety of personal belongings.

Exclusive Deals

 Some Lenders may offer exclusive deals and discounts on interest rates and processing fees to defence personnel as a token of appreciation for their service. Some lenders might offer zero document fee personal loans to eligible defence personnel

Bank Interest rates for Personal Loan

InstitutionInterest ratesLoan amount
HDFCFrom 10.5%Upto 40 Lakhs
Axis BankFrom 10.49%`Upto 40 Lakhs
ICICI bank10.75%-19%Upto 40 Lakhs
Bank of Baroda10.75% – 18.5%Upto 5 Lakhs
SBIFrom 11%Upto 30 Lakhs
IndusIndFrom 10.49%Upto 50 Lakhs
Yes BankFrom 10.99%Upto 40 Lakhs
Standard CharteredFrom 11.5%Upto 50 lakhs
IDFCFrom 10.49%Upto 50 Lakhs
Kotak MahindraFrom 10.99%Upto 40 Lakhs
PNBFrom 11.40%Upto 20 Lakhs
Bandhan bankFrom 11.55%Upto 25 Lakhs

NBFCs Interest rates for Personal Loan

Institution Interest rates Loan amount
Tata Capital From 10.99% Upto 35 Lakhs
InCred From 18% Upto 3 Lakhs
Finnable From 16% Upto 10 Lakhs
PaySense From 16.8% Upto  5 Lakhs
Poonawalla From 9.99% Upto 30 Lakhs
Fullerton From 11.99% Upto 25 Lakhs
LendingKart From 12% Upto 3 Lakhs
Axis Finance From 13% Upto 25 Lakhs
L&T Finance From 12% Upto 7 Lakhs
Mahindra Finance From 10.99% Upto 10 Lakhs
Aditya Birla From 11.99% Upto 50 Lakhs
Bajaj Finance From 11% Upto 50 Lakhs

Benefits of Personal Loans for Defence Personnel

Financial Support in Emergencies

Life in the defence forces is unpredictable. Personal loans can provide essential financial support during medical emergencies, unexpected expenses, or when you need to be there for your family.

Education and Skill Enhancement

Personal Loan can be used for educational purposes and skill development for the kids of the defence personnel availing the loan

Multiple Usages

Defence Personnel may have so many planned and emergency expenses, in such a case, a personal loan can be their true savior helping them attend to their needs effectively

Debt Consolidation

Personal loan can be used to consolidate all the high-interest debts into one, making them easier to manage and also reduce interest costs.

Support for Post-Retirement Ventures

 Personal loans can be used to support entrepreneurial endeavors or post-retirement plans, ensuring a smooth transition to civilian life.


Eligibility Criteria for Personal Loan for Defence Personnel

To qualify for a personal loan for Defence Personnel in India, you generally need to meet the following eligibility criteria:

  • Be an Indian citizen.
  • Must be 21 years atleast and not more than 58 years
  • Must be employed as a defence personnel for 6 months atleast
  • Must receive a salary of Rs. 15000 atleast

Documents Required for Personal Loan for Pensioners

  • Proof of identity (Aadhar card, passport, driver’s license)
  • Proof of address (utility bills, rental agreement) for self-employed
  • Proof of income (Bank statement of Monthly Pension credit)
  • PAN Card
  • Passport-sized photographs

How to Apply for Personal Loan for Defence Personnel at Fincover?

  • At Fincover, we make it a priority to assist the needy get Personal Loan
  • Complete the simple application process entering the basic details
  • You will listed quotes from multiple lenders
  • Select the one that fits you and apply
  • Upload all the necessary documents
  • Following the verification of the details provided, you will be contacted by our associate to complete the next steps from approval to fund disbursal


Discover the specially curated Personal Loans for Defence Personnel in India designed for our heroes in the defence sector.

Personal Loans by Bank