SCRA Interest Savings Calculator

The Servicemembers Civil Relief Act caps interest at 6% on debts incurred BEFORE active military service for the duration of that service. Applies to mortgages, car loans, credit cards, student loans (federal AND private since 2008 amendment), personal loans. The lender must waive interest above 6% - not just defer it. Plus eviction protection, lease termination rights, default judgment stays, and foreclosure protection.

Submit a written request to the lender with a copy of your military orders showing active-duty status. Lenders are required by law to apply the 6% cap from the date your active duty began, retroactive - not just from your request date. Some lenders apply it automatically when they see DoD database confirmation; others require explicit request. Always follow up in writing.

Significant. On a $30,000 auto loan at 9% APR, SCRA caps interest at 6% - saving roughly $75/month or $900/year. On a $300,000 mortgage at 7%, SCRA caps it at 6% - saving ~$200/month or $2,400/year over a 12-month deployment. Credit cards are typically highest-impact: 24% APR capped at 6% on a $10K balance saves $1,800/year.

Yes - debts incurred AFTER your active duty begins are NOT covered (e.g. credit card balances run up during deployment). Federal student loans had their own 0% interest waiver during COVID 2020-2023; SCRA layers on top. Some types of installment loans (e.g. cash-advance products, certain title loans) may have exemptions; check terms. Always notify lenders in writing to maximize protection.