Public Sector Bank (PSU)Defence & Military Personnelunsecured

PNB Rakshak Personal Loan

पीएनबी रक्षक पर्सनल लोन

Subsidized loan for active military, naval, air force, and paramilitary personnel under PNB Rakshak Scheme.

Max Loan Amount

₹50,000 to ₹20,00,000

Interest Rate

11.00% - 13.00% p.a. (concessional defence pricing)

Tenure

12 to 72 months

Processing Fee

NIL (completely waived under PNB Rakshak Package)

✦ What It Is: Product Architecture & Regulatory Scope

Subsidized personal loan scheme tailored for serving defence, military, and paramilitary forces personnel holding a PNB Rakshak Salary Account.

What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Extra Charges

Eligo consumer protection notice: Bank brochures, DSA telecallers, and comparison portals rarely disclose these conditions. Read carefully before signing.

• Must maintain an active PNB Rakshak Salary Account. Salary deduction mandate signed by unit commanding officer / DDO is compulsory.

✦ Key Benefits & Features

• Concessional interest rate spread for armed forces personnel • 100% waiver on processing and documentation fees • Zero prepayment penalties for partial prepayment or foreclosure • High loan limit up to ₹20 Lakhs.

✦ Prepayment, Part-Payment & Foreclosure Rules

NIL prepayment penalty across all tenures.

✦ Eligibility Requirements

Serving personnel of Indian Army, Navy, Air Force, Coast Guard, Paramilitary Forces (CRPF, BSF, ITBP, CISF, SSB, Assam Rifles). Min Age: 21, Max Age: 56. Min CIBIL: 680.

Min Age21 Years

Max Age56 Years

Min Monthly Income₹20,000

Min CIBIL Score680+

✦ Documents Required

• Defence Identity Card copy • Last 3 months military pay slips (PAO / CDA slip) • Unit Authority Letter / DDO mandate • PAN and Aadhaar.

✦ Exact How-To-Apply Process (3 Pathways)

Depending on your current relationship with the bank, select the corresponding application journey:

Pathway A

Existing / Pre-Approved Customers

1. Access PNB One app > Rakshak Services > Personal Loan. Pre-approved defence tier unlocks instant digital sanction.

Pathway B

New Online Applicant (Fresh Digital)

1. Visit pnbindia.in/rakshak-scheme. Enter defence service number and unit base for priority branch onboarding.

Pathway C

Branch Walk-In Application

1. Visit nearest PNB cantonment branch with Service Book copy, last 3 months pay slips, and Unit DDO mandate letter.

Official Sourcing & MITC Verification

180-Day Re-Verification SLA · Last Verified: 2026-09-28

Eligo does not collect personal loan applications, sell user data to DSA telecallers, or receive affiliate commissions. All terms shown are extracted directly from official bank circulars, Most Important Terms and Conditions (MITC), and Key Fact Statements (KFS) under RBI guidelines.

Visit Official Lender Portal (Punjab National Bank Defence Banking)View Official MITC / Schedule of Charges RBI Key Fact Statement (KFS) Reference

Frequently Asked Questions on PNB Rakshak Personal Loan

Which forces are covered under PNB Rakshak?

Indian Army, Indian Navy, Indian Air Force, Coast Guard, CRPF, BSF, ITBP, CISF, and Assam Rifles.

Are Agniveers eligible under Rakshak?

Yes, Agniveers receive tailored personal loans mapped to their contract service duration.

Is any processing fee charged?

No, 100% waiver on processing and documentation charges.