SCRA Savings Calculator
The SCRA caps debt you took on before active duty at 6% APR. Enter a balance and its current rate to see what the cap is worth per year.
Like that number? It takes one letter to claim. Generate yours now, then read the complete rate cap guide.
How this works
What the 6% rate cap is worth to you per year on one balance.
The arithmetic
- Takes the balance and the current APR you enter.
- Subtracts 6 from your APR to get the number of percentage points the cap removes.
- Multiplies the balance by those points and divides by 100, giving a full-year figure.
- Returns zero when your APR is already at or below 6%, because the cap saves you nothing there.
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
- This is a simple-interest estimate on a fixed balance. It does not amortise, so a loan you are actively paying down will save somewhat less than the figure shown.
- It assumes the whole balance qualifies. Only debt incurred before your period of military service is covered by the 6% cap.
- It does not model fees, compounding, or a rate that changes during the year.
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.