If you have a Howard Bank certificate of deposit (CD), we’ll give you a better rate on our personal loans. With our cash secured loans, you benefit by borrowing against your existing deposit account(s).
Once you open and fund your CD, you can’t add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you'll have a 10-day grace period - starting on your maturity date — to transfer funds or make other changes. A CD (certificate of deposit) is a type of deposit account that’s payable at the end of a specified amount of time (referred to as the term). CDs generally pay a fixed rate of interest and can offer a higher interest rate than other types of deposit accounts, depending on the market. A personal loan cite::1407::cite to help pay for household goods, unexpected expenses or any personal need with a scheduled repayment term. This type of loan is secured by a personal CD/Savings account. No pre-payment penalty; View and pay loans easily through Amegy ® Online Banking. A minimum deposit of $500 ($250 for Youth CD - 25 or younger) is required to open a CD. Rates are accurate since 2/21/21. Dividends are calculated by the actual daily balance method which applies a daily periodic rate to the balance in the CD each day. Apply online for a secured loan or line of credit using your certificate of deposit account (CD).
Using your deposit account to secure the loan gives you a quick, low-cost source of funds. You can borrow up to 95 percent of the balance in your CD account. You have until the end of the deposit account’s term (a maximum of 5 years) to pay back the loan.
Cd Loan Rate
Use your loan funds for anything you choose, like buying a car, paying tuition, or consolidating debt.
Benefits of a CD Secured Loan Include:
Cd Loans To Rebuild Credit
- Fast loan approval: Because you’re using the cash in your deposit account as collateral (an asset pledged as security for repayment), we can quickly approve your loan.
- Lower interest rates: We offer lower interest rates on secured personal loans than on unsecured loans.
- Deposit account interest:You continue to earn interest on the funds in your deposit account.
- Improved credit history:Cash secured personal loans can help you establish or rebuild your credit history as you pay back the loan with fixed monthly payments.
Cd Loan Money
Ready to Apply?
Cd Loans Becu
You can apply for a cash-secured personal loan at a branch near you or over the phone. Don’t have a deposit account with us yet? Find out more about your savings options at Howard Bank.