Have you taken advantage from the Savings Deposit Program (SDP) while deployed?

SSG Private RallyPoint Member — Tue, 19 Nov 2013 23:23:54 -0500

When I was in Afghanistan working in Finance Office, I noticed that only aprox. 15% of service members make deposits for this program. This is a great opportunity for service members BOG to get an annual 10% of interest, better than any current savings account in the market.

Response by SGM Matthew Quick made Nov 19 at 2013 11:27 PM

SGM Matthew Quick — Tue, 19 Nov 2013 23:27:23 -0500

As a Finance NCO, how are you reaching all the Soldiers to 'get the word out' about the benefits and ease of saving?

I used this while deployed but I also had other investments and made more money on those.

Response by SSG Private RallyPoint Member made Nov 20 at 2013 12:34 AM

SSG Private RallyPoint Member — Wed, 20 Nov 2013 00:34:26 -0500

I think the SDP is a great way to limit how much a soldier can spend while they are on deployment. I also think that the return on investment especially considering the lack of risk is good. Can a soldier make their money work for them in better ways, probably depending on their circumstance. I myself did not invest because I am paying down my mortgage. I will save in interest this year alone almost 1500 dollars versus the 1000 potential return for the SDP. The SDP program was explained to everyone in our unit befor MOB and many in my unit are taking part in the program.

Response by CPT Private RallyPoint Member made Nov 20 at 2013 9:17 AM

CPT Private RallyPoint Member — Wed, 20 Nov 2013 09:17:45 -0500

Yeah this was an a awesome program for me while I was in Iraq. The money in the account which I maxed in like 4 or 5 months ended up going towards the first house my wife and I bought.

Great program and one I pushed my soldiers to participate in.

Response by LTC Jason Bartlett made Nov 20 at 2013 1:14 PM

LTC Jason Bartlett — Wed, 20 Nov 2013 13:14:39 -0500

I participate in the SDP every time I deploy, it is an easy way to make around $1600. I am almost certain that you were the one who helped me last time I was in Afghanistan:)

Response by SFC Private RallyPoint Member made Dec 19 at 2013 6:33 PM

SFC Private RallyPoint Member — Thu, 19 Dec 2013 18:33:31 -0500

I have and am right now as i am deployed. I have encouraged my soldier to take advantage of this program that pretty much offers free money, and have told them my success stories with it and now roughly half my guys are. Are there anymore programs other than SDP available to deployed soldiers i should be aware of?

Response by CSM Charles Hayden made Nov 17 at 2014 12:08 AM

CSM Charles Hayden — Mon, 17 Nov 2014 00:08:19 -0500

One more detail for real caring leaders at troop level to explain in great detail. Other posts relate to Soldiers lack of knowledge regarding "benefits" even in change of station affairs. This is another that puts money into Soldier's pockets!