What is the Servicemembers Civil Relief Act (SCRA)?
The SCRA is a federal law that provides certain benefits and protections to eligible military members while on active duty. One purpose of the SCRA is to allow military personnel to devote their energy to the defense of the United States by providing relief from the distraction of certain civil matters.
What benefits are provided by the SCRA for my Coinbase loan?
If you are an eligible military member, you can request a reduction of your interest rate to 6% per year. Under the SCRA, the 6% interest rate benefit applies only to loans taken out prior to the start of your active duty service.
How do I request benefits?
You may submit an SCRA benefits request on our contact page. Select Coinbase for the product, then select the following options:
For Let's get started, select Borrowing cash from Coinbase
For What is your issue about, select General
For What seems to be the problem, select I have a question about my line of credit
For Please choose the topic that best fits, select What do I do if I'm on active military deployment
Please include a copy of active duty orders or a letter from the Servicemember's executive or commanding officer on official letterhead that includes:
Servicemember’s name and SSN
Active duty start date
Branch of service
Please do not include military or government-issued IDs with your request.
Who is eligible for SCRA benefits?
The SCRA provides that SCRA benefits apply to full-time members of the uniformed services, including United States Army, Navy, Air Force, Marines, Coast Guard, and Officers of the Public Health Services or the National Oceanic and Atmospheric Administration, citizens of the United States servicing with the forces of an allied nation in the prosecution of a war or military action, members of the active duty Reserves or members of the National Guard called to active service (including basic training or special job school) as authorized by the President or Secretary of State for a period of more than 30 consecutive days.
