What is a Cash Secured Loan?

A Cash Secured Loan allows you to borrow money using your savings account or CD as collateral. It’s a personal loan designed to help with anything from home improvements, medical expenses, debt consolidation and more.1

It only takes a few steps to get started.

Step 1

Talk to a banker.
Visit your nearest branch or call us at 1‑888‑317‑9062 to discuss your loan options.

Step 2

Pick a loan and apply.
We'll work with you to find the loan option that best fits your needs and goals.

Step 3

Get your funds.
Get easy access to your funds once your personal loan application is reviewed and approved.

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Couple looking at house plans for renovation

Frequently asked questions about our Cash Secured Loans.

  • Visit your nearest Popular Bank branch or contact us at 1-888-317-9062.

  • The maximum amount you can borrow for a Cash Secured Loan is the lesser of your savings or CD account balance or $100,000. There is a minimum of $1,000 required.

  • After visiting a branch to speak with your banker or contacting us at 1-888-317-9062, you'll provide information for your Cash Secured Loan application, such as your ID, collateral type (CD or savings), collateral owners, and loan amount. After submitting your application, you may be asked for more information to move forward, or you could receive approval the same day.

  • Our Cash Secured Loan uses the funds in your CD or savings account as collateral, as opposed to an Unsecured Loan which does not have any collateral attached.

  • A hold for the loan amount will be placed on the CD or savings account for the duration of the loan or until your Cash Secured Loan is paid off. You will not be able to access those funds for as long as the hold is on them.

  • No, there are no early payment penalties for paying off your Cash Secured Loan early.

  • This can vary on a loan-by-loan basis. However, the standard documentation required upfront for a Cash Secured Loan is your ID and collateral information.

Ready for your Cash Secured Loan?

Visit your nearest branch to start your Cash Secured Loan application today.

Get started
Ready for your cash-secured loan?

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