A loan that needs a certificate of deposit (CD) as security is known as a CD-secured loan. You run the danger of losing the CD if you take one out and fall behind on your payments.
Let’s examine CD-secured lending mechanisms in more detail, as well as advantages and disadvantages and other solutions you could find worthwhile.
Original Article Source Credits: the balance, https://www.thebalance.com
Article Written By: Anna Baluch
Original Article Posted on: December 10, 2020
Link to Original Article: https://www.thebalance.com/what-is-a-cd-secured-loan-5091673