What is a cd secured loan

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A Smart Strategy Using CDs and Loans - Building Credit with Banks
A certificate of deposit loan, usually just referred to as a CD loan, is a secured personal loan that allows you to use an existing CD account as collateral. A CD loan lets you borrow from your CD while it earns interest. It's an uncommon type of secured loan. You also have collateral that can be used to back another loan, also known as a CD-secured loan.

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Member FDIC. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. View PDF. Normally, when you open a CD, you can break the seal in an emergency, withdraw your money and pay an early withdrawal penalty.