Savings Secured Loan

With no annual fee, it's easy to start building credit by using your savings as collateral

Minimum $1,000 and up to
90%
of your available savings

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Product Features & Benefits

  • Term of 60 months1

  • Minimum $1,000 and up to 90% of your available savings

  • No annual fee

  • Fixed interest rate and monthly payments

  • Free Online Banking with eStatements

  • Savings account used as collateral

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  1. Collateral of savings account must be with American Savings Bank. There is a $50 document preparation fee. The interest rate is based on the earning rate of the pledge deposit account plus a margin. Based on a $5,000 loan amount at an interest rate of 2.52% APR (annual percentage rate) and on a five-year term, there are 60 monthly principal and interest payments at $88.78. The interest rate used in the example is as of 12/01/2020. Please refer to the current Loan Rate sheet or call us for current rates.