Savings Secured Term Loans

Earn dividends on your loan

With a savings secured term loan, the amount of the loan is secured by your savings account. There are no payments due during the term, just pay the principal and interest at the end. Although your savings account is used as collateral, your money continues to earn dividends.

  • Rates as low as 2.70% APR
  • No monthly payments required
  • Principal plus interest due at the end of the term
  • Excellent way to build credit
  • Peace of mind 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 12 months
  • Guaranteed approval
  • Funds available the same day, in most cases
  • No fees or prepayment penalty

Frequently Asked Questions

Can I still withdraw money from my savings account if I currently have an Alliant Savings Secured Term Loan?
The balance in the account securing the loan must at least equal the outstanding loan balance plus interest and cannot be withdrawn.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 Term Loan quicker than the payment schedule?
Absolutely. At Alliant, there are no prepayment penalties for paying off your Savings Secured Term Loan faster than your payment schedule. In fact, it’s a great way to save interest expense in the long run.

Check our fee schedule.

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