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).

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.

Use your loan funds for anything you choose, like buying a car, paying tuition or consolidating debt.

Benefits of a CD and savings secured loan include:

  • 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 remaining money 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.

Ready to Apply?

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.

All Loans Subject to Credit Approval