When you use a secured loan to borrow against your existing savings or certificate account, funds equaling the amount of the loan are frozen from use and released when your secured loan is paid back.
Share Secured Loan
A Share Secured Loan can be helpful if you have a large purchase coming up and don’t want to dip into your savings, or if you need to establish a credit history or improve your credit rating.
- Making monthly payments on time can help build your credit profile
- Your savings will continue to earn dividends
- Terms up to 60 months depending on amount borrowed