Savings Secured Loans

Earn dividends on your loan

A savings secured loan is secured by your savings account. Although your savings account is used as collateral, your money continues to earn dividends.

  • For terms 1 to 48 rates as low as 2.00% APR
  • For terms 49 to 60 rates as low as 3.00% APR
  • Excellent way to build credit
  • Peace of mind in knowing you have fixed terms and monthly payments
  • Earn dividends on the loan amount
  • Loan amounts start at $500 with the ability to borrow your entire savings balance up to $500,000
  • Terms up to 60 months
  • Guaranteed approval
  • Funds available the same day, in most cases
  • No fees or prepayment penalty
  • Convenient automatic payment or monthly coupons

Frequently Asked Questions

Can I still withdraw money from my savings account if I currently have an Alliant Savings Secured Loan?
The balance in the account securing the loan must at least equal the outstanding loan balance and cannot be withdrawn. However, as the loan is paid back, funds in the account securing the loan become available to you. Any balance in excess of the amount securing the loan is available to you.

Will I still earn dividends on my savings even though I have a loan?
Yes. Because the funds remain in your account to secure the loan, you continue to earn our everyday great rate based on your account balance.

Can I pay off my Savings Secured Loan quicker than the payment schedule?
Absolutely. At Alliant, there are no prepayment penalties for paying off your Savings Secured Loan faster than your payment schedule. In fact, it’s a great way to save interest expense in the long run.

MEMBER’S CHOICE™ Protection

Valuable protection that helps safeguard you and your family when you may need it most
Alliant is pleased to offer MEMBER’S CHOICE™ Protection Consumer Loan Protection. By choosing this valuable protection, you'll be adding a safety net for loan payments that helps to bring peace-of-mind for you and your loved ones should you encounter unforeseen financial difficulty due to disability, involuntary unemployment or death.

Consumer Loan Protection Options
To take advantage of this benefit, simply check your preferred protection package on the Loan Application. The fee will be added to your outstanding balance each month. This valuable protection can be added at any time during the life of your loan.

Option #1: Preferred Plan

  • Protects the primary borrower.
  • Protection includes loss of life, disability and postponement of payments due to involuntary unemployment.
  • Cancels your outstanding loan balance up to $100,000 in the event of death.
  • Cancels your monthly loan payment for up to twelve months or $12,000 in the event of disability.
  • Defers your monthly loan payment for up to six months if involuntarily unemployed.

Option #2: Preferred Plus Plan

  • Protects both you and the co-borrower with the same benefits as the Preferred Plan.

Option #3: Consumer Life Plan

  • Protects up to two borrowers per loan.
  • Cancels your outstanding loan balance up to $100,000 in the event of death.

Option #4: Life Payment Holiday Plan

  • Protects up to two borrowers per plan.
  • Protection includes loss of life and postponement of payments due to involuntary unemployment.
  • Cancels your outstanding loan balance up to $100,000 in the event of death.
  • Defers your monthly loan payment for up to six months or $6,000 if involuntarily unemployed.

Option #5: Payment Unemployment Holiday Plan

  • Protects up to two borrowers per loan.
  • Protection includes postponement of payments due to involuntary unemployment.
  • Defers your monthly loan payment for up to six months or $6,000 if involuntarily unemployed.

MEMBER’S CHOICE™ Protection Agreement for Consumer Loans (PDF)

MEMBER’S CHOICE™ Protection contains certain terms and exclusions. Protection is not available for term loans or Interest-only Home Equity products. The protected borrower(s) may not be eligible for all benefits. Refer to the MEMBER’S CHOICE™ Protection Agreement for complete details. The MEMBER’S CHOICE™ Protection fee will be added to your loan and calculated in your monthly payment. Rates, terms and conditions are subject to change. Purchase of this protection is voluntary and not required in order to obtain credit. We will not consider whether or not you elect this protection in making our credit decision.

DPGAP-0612-0235

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