How does SCRA affect your loan interest rate?

Under SCRA, the interest rate on loans you took out before your active duty started must be reduced to a maximum of 6% per year during your military service.

Our SCRA policies go above and beyond the statute’s requirements to provide servicemembers with relief due to deployment. From the earliest date allowed by statute, the customer’s interest rate is lowered to 0% in perpetuity for the loan.