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Compare Deposit Secured Loans and Lines of Credit

Secured Loan and Line of Credit Comparison table
  Savings Secured Loan Time Deposit (CD) Secured Loan Savings Secured Line of Credit
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Quick Guides® Quick Guide to Savings Secured Loans Quick Guide to Timed Deposit (CD) Secured Loans Quick Guide to Regions Savings Secured Line of Credit
Product Features A Savings Secured Loan allows customers to use funds from a Regions savings account or money market account as collateral while still maintaining a deposit account balance A Time Deposit (CD) secured installment loan for customers who wish to use their Regions CD as collateral while avoiding early withdrawal penalties Variable-rate, revolving line of credit that allows funds to be borrowed, repaid, and then borrowed again using funds from a Regions savings account or money market account as collateral
Collateral More Info Regions savings account and Regions money market account Regions Time Deposit Account (CD). Maximum of one CD per loan Regions savings account Regions money market account
Terms More Info Terms are based on loan amount and the deposit account securing the loan N/A
Minimum Loan Amount More Info $250 or greater $2,000 $250
Maximum Loan Amount More Info Up to 100% of verified balance on collateral account Up to 100% of verified balance on collateral account $100,000
Access Methods More Info Funds are available in a single lump sum at loan closing Funds are available in a single lump sum at closing Acces checks, online banking, telephone, branch
Interest Rate Type More Info Fixed Rate Fixed Rate Variable Rate based on Wall Street Journal Prime plus a margin
Rate Discounts Available More Info Yes, if eligible Yes, if eligible Yes, if eligible
Payment Frequency and Amount More Info Monthly repayment. Repayment amount varies based on term and loan amount Monthly repayment. Repayment amount varies based on term and loan amount Monthly repayment of Principal and interest based on the greater of 5% of your balance or $10
Automatic Payment Option More Info Yes Yes Yes
Loan Closing Branch closing only Branch closing only Branch closing only
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Savings Secured Loan Time Deposit (CD) Secured Loan Savings Secured Line of Credit
All loans are subject to terms and conditions, fees, documentation requirements, and credit approval.