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Military credits and their terms

In order to serve in the national army a soldier needs to part with his family, friends, entertainment and memories. In return for it he asks for some financial aid and a good treatment of his family. Military credits can really assist in getting money for satisfying everyday needs, such as paying for medicine bills, making common purchases, paying back the debts.

Military credits can be defined as a type of short-term credit, which usually makes up $80 – $1,500 and has reasonable repayment alternatives. These loans are considered to be adaptable, since they can be rolled over on the condition that a borrower will be charged additional fees to the primary interest rate. It is very important to know for a customer that percentage rates on these loans are much higher than on the other types of credit, as payday lenders don’t want to bear losses due to a great number of customers’ defaults. The loan must be repaid in the term ranging from 1 to 30 days. So that, there are some requirements for the applicant who wants to receive a military payday loan.

1. A candidate must be a citizen of the USA and have a US passport.
2. A candidate should be at least 18 years old.
3. Applicant’s income is to amount $1,000 and more to make sure that he is solvent.
4. A potential borrower should have an opened check account.

If you think that a retired military man is not allowed to receive this credit, you are mistaken, as military payday loans are offered to retired soldiers as well. But legislative acts impose one important requirement for these borrowers. Even if you used to serve in the army, but don’t do it now, you are to have another job for no less than 3 months to be eligible for getting a payday loan.