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Pearl Hawaii Credit Union
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Pearl Hawaii Credit Union
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Secured Personal Loans

SAVINGS | CERTIFICATE | AUTO

Secured Loans | A senior couple in a van

 


 

Pearl Hawaii’s Secured Personal Loans* are loans that are secured by the amount available on deposit or your vehicle. Essentially, build good credit while getting a low rate that won’t break the bank. It works much like a personal loan and is available to help people with a variety of expenses.

For certificate or savings secured, the funds are held as collateral in your account for a specific period of time-based on the terms of the loan.  The money collects interest while in the account, which will offset the interest charged on the loan.

 

BENEFITS OF A SECURED PERSONAL LOAN

SAVINGS SECURED

  • Borrow against your Pearl Hawaii savings account to receive a low-rate loan while still earning interest on your financial resources on deposit
  • A portion of funds is released with each payment made
  • Credit check not required
  • Verification of income not required
  • Loans are secured by available funds in your savings account
  • A good alternative to paying higher-cost credit card debt
  • An easy application process with no credit review
  • Continue to accrue dividends during the loan period
  • Affordable credit life and disability insurance** available

 

CERTIFICATE SECURED

 

  • Borrow against your Pearl Hawaii certificate and receive a low-rate loan while still earning interest on your financial resources on deposit
  • Funds held as security may be used to pay off the remaining balance of the loan at the time of the certificate maturity unless the loan is refinanced or paid in full
  • Credit check not required
  • Verification of income not required
  • Loans are secured by available funds in your certificate
  • A good alternative to paying higher-cost credit card debt
  • An easy application process with no credit review
  • Continue to accrue dividends during the loan period
  • Affordable credit life and disability insurance** available

AUTO SECURED

  • Borrow against your vehicle and receive a low-rate loan while still earning interest on your financial resources on deposit
  • The Certificate of Title will be released to the borrower when the loan is paid in full.
  • A good alternative to paying higher-cost credit card debt
  • An easy application process
  • Affordable credit life and disability insurance** available

Overall, Secured Personal Loans can help you build your credit history or repair bad credit faster. While this can be an advantage, you also need to carefully consider whether you can repay the loan and whether you can lose the asset you’re using as collateral. Generally, the ultimate goal should be to rely as little as possible on debt.

Secured Personal Loans

SAVINGS SECUREDCERTIFICATE SECUREDAUTO SECURED
RATE2.50% Above Dividend Rate2.00% Above Current APY* (i.e., Current market rate + 2.00% APY = your rate)rates
TERM1 to 5 year terms2 OPTIONS 1) Amortized up to 10 years with the loan due when the certificate matures 2) Choose to have 1 payment (maximum 1 year) due at certificate maturity. Loan can be renewed when certificate is renewed.up to 7 Years
MINIMUM LOAN AMOUNTnonenone$200
MAXIMUM LOAN AMOUNT$100,000no limit$30,000
Percentage that we match100%90%-
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*APR = Annual Percentage Rate. APY = Annual Percentage Yield. Conditions may apply.

**The products are optional. Insurance products are not a deposit or obligation of or guaranteed by Pearl Hawaii FCU or its affiliates. These products are not insured or guaranteed by NCUA or any agency of the federal government. Your credit approval cannot be conditioned on whether you purchase any of these insurance products.