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 principle and interest at the end. Although your savings account is used as collateral, it continues to earn dividends.
- Rates as low as 2% above current dividend rate current dividend rate
- No monthly payments required. Principle plus interest due at the end of the term.
- Excellent way to build credit
- Peace of mind in knowing you have set terms and monthly payments
- Earn dividends on the loan amount
- Loan amounts start at $500 with the ability to borrow your entire share balance up to $500,000
- Terms up to 12
- Guaranteed approval with no credit inquiry required
- 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 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balance in the account securing the loan must at least equal the outstanding loan balance plus interest and cannot be withdrawn.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 Share Secured Loan quicker than the payment schedule?
Absolutely! At Alliant, there are no prepayment penalties for paying off your Share 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
Alliant is pleased to offer MEMBER’S CHOICE™ Consumer Loan Protection. By choosing this low-cost valuable payment protection to your loan, you’ll be adding a safety net of comfort and peace-of-mind for you and your loved ones, should you encounter unforeseen financial difficulty due to disability or death.
- Provides peace-of-mind for only pennies a day
- Protects you and your family by canceling your monthly payment, up to the plan maximum, in the event of disability; or your outstanding loan balance, up to the plan maximum, in the event of death
- Shields you from loss of income with involuntary unemployment coverage
- Helps preserve your valuable credit rating
- Helps shelter you from bankruptcy, foreclosure and repossession in a difficult time
- Coverage available up to age 70 on all consumer loan protection options
Consumer Loan Protection Options*
Simply check your preferred protection package on the Loan Application.
Option #1: Ultra Plan
- Protects the primary borrower
- Protection includes life, disability and 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
- Cancels your monthly loan payments for up to six months or $4,000 if involuntarily unemployed
Option #2: Preferred Plan
- Protects the primary borrower
- Protection includes life, disability and 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 loan payments for up to six months if involuntarily unemployed
Option #3: Preferred Plus Plan
- Protects both you and the co-borrower with the same benefits as the Preferred Plan
Option #4: Consumer Life Protection Plan
- Protects up to two borrowers per loan for just pennies a day
- Cancels your outstanding loan balance up to $100,000 in the event of death
Check our fee schedule.
Call 800-328-1935
