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CD and Share Secured Loan

CD and Share Secured Loan

Use your savings to your advantage.

  • Overview

    Secure a loan with your savings.

    If you’re looking to borrow money at a lower rate or build your credit, use the value of your Heartland certificate of deposit or share savings account to get a secured loan. With this secured loan, you will not only continue to earn dividends on your share or certificate, but also enjoy a 0.25% loan rate discount when you set up automatic payments from your Heartland Checking.

    Loan terms up to 5 years

    We won’t rush you.

     

    Flexible payment options

    Pay how it works best for you.

    Low rate

    Rates are 2% over your CD or Share rate, with a minimum rate of 3% – making this a great money-save option for borrowing.

  • Rates
    Rates Effective as of: 12-01-2021
    TypeAPR*Terms
    Signature Loan***As low as 9.24%Up to 5 Years
    Holiday Loan+* - $500-$2,500As low as 4.99% APR*12 months
    Visa Platinum, Student & Business+++++As low as 8.90% Variable APR* Revolving Line
    Visa Platinum Rewards+++++As low as 9.90% Variable APR*Revolving Line
    Visa Signature+++++ As low as 11.90% Variable APR*Revolving Line
    Share Secured (minimum rate 3.00%)2.00% over share rateUp to 5 Years
    CD Secured (minimum rate 3.00%)2.00% over CD rateUp to 5 Years
    Ready Cash Plus15.00%Revolving Line

    *APR is annual percentage rate. Auto pay from an active Heartland Checking account is required to receive the lowest quoted rate on collateral, home equity closed end, and signature loans. Add .25% without auto pay. These rates are in effect as of 9/1/2021 and are subject to change.

    ***Rates may vary based upon credit history. Please contact the Heartland loan department for details regarding how your rate and term is determined.

    +* APR is Annual Percentage Rate. Offer valid 11/2/21-12/31/21 and subject to change without notice. Actual rate may vary based on credit history. Loans currently financed with Heartland do not qualify. Qualifying term is 12 months. $500-$2,500 max loan amount. Payment on a 12 month loan at 4.99% APR is $42.89 per $500 borrowed. Rates quoted include a .25% discount for Automatic Payments from a Heartland Checking account. Qualifications apply. Must meet membership qualifications.

    +++++ Transaction Fees: Foreign Transaction – 1% of U.S. dollar transaction amount. Annual Percentage Rate (APR) for purchases, balance transfers and cash advances: Visa Platinum-8.90%-12.90% APR. Visa Platinum Rewards-9.90%-13.90% APR. Visa Signature -11.90%-15.90% APR. These APRs are variable and based on your credit worthiness and uses the Wall Street Journal Prime rate as its index. Rates are subject to change semi-annually.

  • FAQs
    • A CD/Share Secured loan uses your deposit account at Heartland as collateral. It is a good option if you want to build credit and don’t need to use the funds in your deposit account for the term of the loan. The interest rate is lower than a Signature loan and your deposit account will continue to earn dividends. A signature loan has a higher rate because it is unsecured and there is no collateral on the loan.

    • Yes.

    • Yes. If you set up your payments to automatically come from your Heartland Checking account you’ll receive a .25% discount on your loan rate.

    • No. You must use a Heartland Certificate or Savings account to secure the loan, excluding IRA accounts.

    • You can make your loan payments through Online Banking, Mobile Banking, Automatic Payments, check or by calling us to transfer a payment from your Heartland account at (651) 451-5160 or (800) 813-9185. We cannot make payments for you from another financial.

    • You can pay off your loan at anytime without any fees.

    • We can deposit the funds to your Heartland account, provide an official check or wire funds out.

    • You could be approved the same day if you meet our credit criteria and funds would be available the same day. If your application needs to be reviewed further by an underwriter, you should receive a decision within the same day or following day. If you’ve applied and you do not meet our criteria, you will be notified of a decision on your application within two business days.

That outstanding level of customer service and attention to detail is what will keep customers loyal to Heartland for years and years. Thanks again to the terrific staff at Heartland CU.

Akhtar H.

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