6 Types of Military Financial Loans for Active Duty Personnel

Active military servicemen and women have numerous types of military financial loans to choose from in case they find themselves in a tight bind. Whatever your financial situation is, you can find a credit facility that can meet your needs. Military loans are available to anyone who is serving or had served in the US armed forces, regardless of branch. Here are some of the most common financial loans available to military personnel.

Senior Leadership VIP Loan

A Senior Leadership VIP Loan is one of the few military financial loans that are intended for the senior members of the military service. The interest rate applicable in this particular loan is can be very competitive when compared with other traditional loans. A borrower does not have to worry about huge monthly payment amortization. Under this loan facility, you can find lenders that are willing to provide loan for up to $10,000.

Career Service Loan

This type of credit facility is perfect for enlisted and career military service personnel. The amount that you can borrow under this type of military loan can be as high as $6,500. Other employees of the Department of Defense can also secure career service loan.

Premier Loan

Servicemen and women can secure military financial loans that are classified as premiere loans. You do not have to worry about the interest rate of this credit line because it is usually at par or even lower than the running market rates. The maximum amount you can borrow from this debt facility is $7,500.

Leadership VIP Loan


This is military financial loan is intended for middle officers of the military service. You can borrow as much as $5,000 in a leadership VIP loan. The conditions of this debt facility are very similar to the senior leadership VIP loan. You can actually use the proceeds of this loan for house repairs, as down payment for your house, to buy a new car and any other purpose that you can think of.

Bereavement Loan

In time of family emergencies, members of the military service can take advantage of the bereavement credit facility. Aside from fast processing, another advantage of this loan is the fact that it is interest free. However, this loan is payable within 90 days.

Disaster Relief Loan

Just like the bereavement loan, this type of military financial loan is meant for emergency purposes. If disaster strikes in your family, servicemen and women can be assured that they can obtain funds fast. You or your family can borrow a maximum amount of $1,000 under the terms of this loan.

There are several other types of military financial loans but these six are the most accessible and easy to obtain.

 


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