Military Loans – Incentive to Join the Army

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The United States Armed forces which consist of the US Army, Air force, Navy and Coast Guard have carved for themselves a niche in the minds of the American nation. These forces represent the free world and a manifestation of US power all over the Globe. In fact they emphasize, that in the twenty-first century there is only one super power and that is the USA. During the days of the Vietnam War, there was conscription often referred to as the draft. But presently the US armed forces are a volunteer force.

A volunteer force needs to make the service attractive for new recruits. As a part of this the Armed forces have worked out a number of schemes that make the service worth joining. The Military loans are one such scheme that is available to members of the US Armed Services. All combatants are eligible to apply for these loans. The procedure to obtain these loans is simple and minimal paperwork is involved. These loans are available on a 24 hour basis i.e. round the clock. They can also be accessed on the net. The United Armed forces operate on a global scale from Korea to Afghanistan and Iraq to Germany, thus the easy accessibility of these loans is a plus point for the Armed Forces personnel.

These military loans are available from small amounts ranging from $ 500 to larger amounts up to $ 10,000. Military Personnel can avail of loans for any purpose including Auto loan, Cash loan, Computer loan, Home loan as well as Debt consolidation loan. Military loans, advance military loans, military payday loans and VA loans are all benefits available to American men and women who don the colors of the United States Armed forces. These loans are available for any purpose and no collateral is required.

Once you apply for a loan and the same is approved the money as a rule is credited to your account within 24 hours. It is immaterial where the service man is located. However do bear in mind that these loans are not available to retired personnel or soldiers transferred to the reserve, but only to active duty serving personnel. To get a military loan a member of the US armed forces needs to have an address in the United States and his loan can be approved even if he is posted at any place on the globe. A US service man can opt to have the loan credited to any account in the USA or any overseas branch of a US bank. Most US banks have branches at major US Bases abroad. In addition if he so desires an active service soldier/seaman/airman can directly have the check mailed to him to any APO (Army Post Office), FPO (Field Post Office), AE, or AP address. The state of finances of a servicemen is not an issue and service personnel with bad credit or poor credit rating are also eligible for a Military loan.

A service personnel applying for a loan needs to be aware that his personnel information is safe, as per the Military loans privacy policy. The loans are generally sanctioned within 24 hours and more important there are no clauses relating to any penalty for prepayment, which is so common among other loans from Banks and financial institutions.

Many private organizations in conjunction with the US government and Service headquarters also provide private loans to Armed Forces personnel. This helps prop up a combatant’s financial health. To avail a private loan a service man only requires to give addresses of any 3 relatives as a reference.

Recovery of the loans is not a problem and is carried out through allotment. Such payments are automatic and the chance of default is minimal.

Loans for men who don the Uniform are easy to get. This can be termed a perk connected to the uniform an American wears. The basic requirement to access a military loan is to provide details of your military service along with your personal details. You will need to provide the special military number allotted to you at the time you enlisted or joined the service. This is a distinctive number and unique to each service man. The amount of loan admissible is then calculated and your eligibility worked out depending upon the rank you hold and your financial status. Obviously officers would be entitled to higher amount then enlisted men. Joining the US Military is after all a good thing for all Americans.

Source by Madan G Singh

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