Certificate Secured Loan
Have your cake and eat it too.
You don’t have to choose between having the money you need right now and letting your savings continue to grow. Do both with a Certificate Secured Loan.
Perfect for your changing financial needs
The money you were able to invest a year ago might be exactly what you need to make ends meet today, but you’ve also got the future to consider. An Addition Financial Certificate Secured Loan allows you the flexibility to borrow what you need right now while sticking to your long-term savings plan.
Short Term Borrowing + Long Term Saving
Borrow the money you need today with help from the funds you’re saving for tomorrow. When you use your Term Share Certificate savings as collateral, it will continue to earn dividends and grow untouched while you use and repay the money you’ve borrowed. Unlike withdrawing money from your certificate early, there’s no penalty for borrowing against it with this loan.
- Funds available immediately
- Minimum loan amount: $500
- Maximum loan amount is 100% of the certificate balance, not to exceed $300,000
- Maximum term is up to 60 months but cannot exceed the certificate's maturity date
- Rate is current 60-month certificate rate + 3%
- Funds stay on the share certificate and continue to earn dividends
- The loan will be set up with monthly loan payments
- There must be sufficient funds in the Term Share Certificate to cover the loan
Payment Protection
Establish peace of mind for yourself when you choose to cover your Addition Financial loan with Payment Protection. By adding payment protection to your new loan, you’ll have one less thing to worry about during a period of reduced income due to disability, illness or death.
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