| A Savings Account or Share Loan is a loan against a deposit
account at the Bank. The savings instrument is used as security
for the loan (IRA accounts are not eligible to use as collateral
for a loan.) Savings Account Loans can be secured for amounts
of at least $500.00.
The maximum loan amount is 100% of the balance in the collateralized
account. Only one Savings Account Loan per deposit account
is allowed.
Payments may be set up on a quarterly interest basis, or
may be set up with monthly principal and interest payments.
With the Savings Account Loan, there are no prepayment penalties.
Please contact one of our
loan specialists
for more information and to start your application today!
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Housing Lender, All Rights Reserved.