Share or Certificate Loans
At Salal, you can use your savings account or share certificate as collateral for a loan. Simply designate your savings account or certificate as collateral, and you can borrow up to the amount you have in the account. Of course, you need to leave the money in the account until the loan is paid off, but the amount of money held as collateral is reduced as you make payments on the loan. Meanwhile, your savings account or certificate is still earning dividends.*
- Certificate and/or savings continue to earn dividends
- Reduce your loan rate by 0.25% with 2,500 Salal Rewards points**
- Borrow up to 100% of amount in savings account or certificate
- Convenient repayment options through direct deposit
Tip: For those with a less-than-perfect credit history or no credit history at all, taking out a secured loan is a great way to demonstrate reliability and establish or raise that credit score.
*All Salal loans subject to credit approval. **Some restrictions may apply.