What Is a CD-Secured Loan?

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.

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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