If you own a Certificate of Deposit (CD) from Pinnacle Bank, you have more than a solid savings tool. You also have collateral that can be used to back another loan, also known as a CD-secured loan. So, instead of applying for another traditional loan or line of credit, you can borrow against your CD to pay other debts or expenses. Simple as that!
Benefits of a CD-Secured Loan:
- Quick cash for a short-term emergency
- Build credit history
- Lower interest rates
- Fixed interest rate
- Continue to earn interest on the CD
- Easier installment payments
- Experienced loan officers
