SCRA Bank Rate-Cap Lookup
The law caps pre-service debt at 6%. Several banks voluntarily go lower. Pick your issuer to see its reported cap, how fees are treated, and exactly how to file. Every figure is transcribed from that issuer's full guide on this site; where a bank publishes no SCRA rate page, the number is labeled reported. Your statutory floor is 6% everywhere, retroactive, with the excess forgiven.
How to read this:
- Voluntary rates below 6% can change. Send the statutory request in writing anyway; that is what makes retroactivity and forgiveness enforceable.
- Rates marked reported come from issuers that publish no public SCRA rate page (Citi, Synchrony). Confirm your number in writing when you file.
- The cap covers debt you opened before active duty. Accounts opened during service fall under the Military Lending Act instead.
- Overcharged already? The cap is retroactive. Size it with the refund calculator, or compare every issuer on the bank leaderboard.
How this works
What one issuer does on the rate cap, and exactly how to file with them.
The arithmetic
- Looks your issuer up in our bank records.
- Returns the rate they apply, how they treat fees, and the filing channel.
- Shows the date each value was last verified on that issuer’s own site.
The law behind this: 50 U.S.C. § 3937
Maximum rate of interest on debts incurred before military service: read the statute , or see where it sits in the whole Act .
What this does not account for
- Rates above the statutory 6% floor are voluntary policy. An issuer can change one at any time, which is why every value carries its verification date.
- Where an issuer publishes no figure, we say so rather than repeating a number from elsewhere. Several widely quoted issuer rates do not appear on the issuer’s own site.
- The 6% floor is the law. Anything better than that is the issuer choosing to go further, and is not enforceable as an SCRA right.
Heads up: SCRA Saver publishes general information, not legal or financial advice. Laws change and every situation differs. Confirm details with your installation legal assistance office (free for service members) or a licensed professional.