Share Secured Low Risk – With ALL the Benefits
An attractive loan option for the conservative borrower is the Share Secured loan. The loan is secured with money in your savings (Share) account. This is a low risk way to borrow money and still receive interest on the money in your savings account. Additionally, you can use a share secured loan to establish a credit history as you repay the loan.
- Funds in savings accounts are used to secure the loan, as loan is paid down, funds in savings account become available.
- 2% over share rate
- Terms up to 60 months
Share Secured Loan Information
|Type of Loan||Maximum||Term||APR*||Action|
|Share Secured||Shares on Deposit||up to 60 Months||2.00% above share rate dividend||Apply|
|Share Secured Loan Payment Example:|
2.250% APR for 60 months
|Per $15,000 borrowed|
$264.68 per month
|Per $1,000 borrowed|
$17.64 per month
* APR=Annual Percentage Rate. Loan Rates as of 10/01/20.