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| CD LOANS |
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Certificate of Deposit Loans can often be a practical borrowing option. Since the CD is used as collateral, it will continue to earn interest during the term of the loan. Interest on the loan will be from 2% to 4% above the CD rate you are pledging, which means you're getting a personal loan for as low as 2%, plus origination fees.
Amounts Borrowed & Maturity
You can borrow up to 80% of the value of the CD and loan maturity is matched to the CD maturity, which means that if you have a one year CD which has six months to go before maturity when you apply for the loan, the loan will also mature in 6 months.
Repayment Options
You will have a variety of payment options. If you want to receive the full value of the CD at its maturity, it's best to arrange a payment plan that includes interest and principal. But it's up to you! You can pay interest only until maturity or you may have the loan balloon at maturity.
Contact our Customer Service Department for detailed information.
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