There are thousands of brave US men and woman Servicemembers serving overseas in the War on Terror, and there are some financial programs that aid enlisted personnel serving on Active Duty. One of these programs is the US Military Savings Deposit Program. It is for those military Servicemembers who are serving in an active war zone or combat zone. It gives Servicemembers an opportunity to participate in a DoD supported military savings program for active duty personnel serving in a combat or active war zone.
Many members of the US Congress joined with the American people and a program was designed to give a program for Servicemembers that will pay a higher rate of interest. Servicemembers who participate in this program must be on active duty and serving in a designated DoD designated Combat or battle zone. This is an updated version of a program that was in existence way back during the early 1970’s, during the Vietnam era. This program has been around for about 40 years, and it is a supported active duty program that offers Servicemembers an account to put money into and then it gives them ten percent interest on their money. Any Servicemember member serving in Afghanistan, Iraq, or other combat area is typically eligible for this program. It is a program that was restarted during the 1st Iraq War, during the Desert Storm Conflict. A Servicemember become eligible for this program after his 31st day serving in a combat War zone such as Afghanistan or Iraq, or in other War zones around the world. Money can be deposited in any multiple of $5 dollars, from 5 dollars on up. It is limited only by the money that is earned in the Servicemembers pay check. You can deposit up to 100 percent of your military paycheck, you are limited by the amount that you receive as actual active duty pay. You cannot deposit more than your pay, for example your paycheck plus additional money transferred from savings is not allowed. It is a military benefit support program designed to assist Servicemembers in saving their money when they are serving their country in a wartime situation.
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Because of their service to their country the program was established to give Servicemembers a chance to save their funds and earn a higher rate of interest for their savings benefit.
