America's Christian CU
America's Christian Credit Union

Savings Secured Loan

A Savings Secured Personal Loan offers a lower rate than other types of loans because it uses funds in a Traditional Savings account or Savings Certificate — either a share account, share certificate account or money market account — as collateral.

Don’t deplete your savings

It is important to keep a reserve in your savings account for emergencies and purchases. When you are ready to make a purchase you can secure the loan with your deposits at a lower rate than unsecured personal loans. A Savings Secured Personal Loan allows you to borrow the money you need at a lower rate while maintaining your savings.

Benefits of a Savings Secured Personal Loan:

  • Use your Regular Share/Savings account or Term Share Certificate as collateral
  • Continue earning dividends on you deposit
  • Interest rate only 3% over savings rate (all time low!)
  • Can be used to build or repair credit

Loan Payment Calculator

The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Use our loan payment calculator to determine the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not imply that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. This calculator is not an offer of credit nor a guarantee of approval.

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As a member of America’s Christian Credit Union, we’re dedicated to providing you all the support you need to reach your financial goals along with a premier banking experience.
Savings Secured Personal Loan Frequently Asked Questions

What is a Savings Secured Personal Loan?

A Savings Secured Personal Loan is a loan that offers a low rate because it is backed with a deposit or term share certificate as collateral.

How long does it take to get a decision?

Your loan will be reviewed in 1-2 business days. However, our decision may be delayed if we require additional information from you.

How do I receive my Savings Secured Personal Loan funds?

The funds will either be deposited into an account designated by the borrowers or a check will be mailed to the address requested.

Is there a minimum loan amount?

Yes, the minimum loan amount is $1,000.

Is there a maximum loan amount?

Yes, the maximum loan amount is as much as held in savings.