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Military police to improve access to interest-free loans

More military personnel will soon be able to take advantage of the military police's interest-free loans service, with officials planning to increase the availability of the service by adding three more counters at Taiwan High Speed Rail's Taipei, Taichung and Kaohsiung stations.

"The purpose of the service is to help more soldiers who are in need of cash so that they do not have to deal with loan sharks," said a high-ranking military police officer, speaking on condition of anonymity.

The officer said that the idea and the budget came from the Ministry of National Defense.

He said counters for the service have been established at 19 major railway stations and airports nationwide since 1994.

A total of NT$1.2 million (US$37,100) can be borrowed at any of the counters.

The maximum amount of each loan is NT$2,000. Those applying for the service just need to show their military personnel ID as proof.

The loans are approved almost immediately once confirmation has been received from a prospective debtor's superiors. No interest is charged.

The officer said that a total of 1,509 soldiers had taken advantage of the service last year. A total of NT$2,116,700 in loans was approved and all the money has been returned.

"Most of those who take advantage of the service deliver the money back to the counters in person," the officer said. "Ever since the service was implemented in 1994, all the debtors have been honest and returned the money, so the service will continue."

The regulations state that the debtor should return the money within two weeks or the military police will contact the debtor and request their superior officers to help retrieve the money.

"Thankfully, we have not yet had to do so, since everybody has complied with the rules," the officer said.
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