Small Secured Loans
A Small secured loan is one that is connected to a piece of collateral – something valuable like a car or a home. With a secured loan, the lender can take possession of the collateral if you don’t repay the loan as you have agreed. A car loan and mortgage are the most common types of small secured loan.
A secured loan will tend to also have lower interest rates. That means a secured loan, if you can qualify for one, is usually a smarter money management decision vs. an unsecured loan. And a secured loan will tend to offer higher borrowing limits, enabling you to gain access to more money.
A secured loan will tend to also have lower interest rates. That means a secured loan, if you can qualify for one, is usually a smarter money management decision vs. an unsecured loan. And a secured loan will tend to offer higher borrowing limits, enabling you to gain access to more money.
Why get a Savings Secured Loan?
- Immediate funding. You may access your funds the next business day after credit approval.
- Preserve savings. You can continue earning interest on your savings and avoid early withdrawal .
- Lower interest rate. You may get a lower annual percentage rate by providing approved collateral to secure your loan.
- Fixed term and rate. You know exactly how much you’ll pay each month, making it easy to budget.
- Loan amounts from $3,000 to $250,000
- $75 origination fee
What Can a Small Secured Loan Be Used For?
Borrowing
Borrow money without fees and closing costs, and without drawing on your savings.
Secured Loan Sources:
