What is the Savings Bank program?

The Savings Bank program is explicitly for soldiers in active combat zones a special economical platform. By using the program, the soldier is offered a way to gain generous interest in the money saved. This offer is only extended to those in the active struggle; If the soldier leaves the fight, he has a 90 -day window that will return before the account closure.

The main point of competence in the Spořitelna program is governed by enemy fire salary. This special compensation is paid to every person serving in the military when the enemy people are known or expected. In most cases it is any active war zone, but it may not be. Any place that has a real chance of attacking, war zones or not, causes the soldier to cause a bonus. A soldier can open a savings deposit account if he serves 30 or more days at a place where he receives an enemy reward or if a soldier receives a bonuso period of three consecutive months. Can choose to make deposits as well as a normal savings account, orhe may decide to have money sent directly from her reward. The selections are not usually allowed, while the soldier still receives a hostile reward for fire, but any amount over $ 10,000 in the US (USD) can be removed quarterly.

There is one strange circumstance where a soldier can withdraw money from his Savings Bank program and yet in active danger. If the soldier believes he does not have his money, threatens his personal well -being or in one of his addicts, he can try to remove his money. The soldier takes his case to his commanding officer who reviews the situation; If he agrees, the soldier can withdraw his money. This is generally used to get money to cover problems for a soldier's family at home, often medical accounts or housing costs.

The main reason for the use of the savings program is to use its interest rate. The account earns 10 percent of interest per year from any amountUp to $ 10,000. Any amount of account over $ 10,000 is not included. This means that the maximum interest paid in one year is $ 1,000. This interest is not protected from tax and must be published when tax administration.