Interest Rate Benefits for Servicemembers

The Servicemembers Civil Relief Act (SCRA) is a law that provides protections for servicemembers. The SCRA limits the amount of interest on certain financial obligations incurred prior to military service to no more than six percent per year. Active duty servicemembers, members of the reserve component when serving on active duty, members of the National Guard mobilized under federal orders for more than 30 consecutive days, and active duty commissioned officers of the Public Health Service or the National Oceanic and Atmospheric Administration are eligible.

More information on the Servicemembers Civil Relief Act (SCRA) is found at https://www.justice.gov/servicemembers/topics.