How would you like to get access to funds, while still growing your savings? Thomaston Savings Bank's Secured Collateral Loan can help you achieve both of these goals. With a secured loan, you can borrow funds while using your savings or Certificate of Deposit (CD) as collateral – without having to pay an early withdrawal penalty.
Borrow Money While Building Funds
Secured Loans allow you to build interest on your savings or CD with interest rates lower than other types of loans.
- The interest rate for the loan is 2.75% over the pledged account rate
- Finance limits: Minimum $500 – Maximum $200,000
- Billed quarterly for interest
- Access to Online and Mobile Banking Services
- Subject to prepayment penalty – specific rules apply
- The principal balance is due at the end of the 360-month term. You can make payments to reduce or pay off your outstanding principal balance at any time, without penalty, during the term.
Secured Loan Highlights
Securely grow your funds: You can continue to earn interest on your savings or CD while you borrow against it.
Low interest rates: Secured Loans typically offer lower interest rates than other types of loans.
Current Secured Collateral Loan Rates
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