Secured Line of Credit Info
The only difference between Fifth Third Bank's secured and unsecured line of credit relates to the requirement for collateral. In this case, the bank considers investment accounts and CDs. It is a banking product that allows you to obtain financing while your money grows.
This revolving credit has a term of use of 20 years and once this period is over, you will have to pay back the money used.
If you want to get a discount on the interest rate, you have to activate automatic payments using the Auto Billpayer service available for selected checking and savings accounts.
The great advantage of this secured line of credit is that you can opt for a credit card type of financing of up to $500,000. This is combined with assigned monthly payments that only include interest payments. This gives you more money available to better manage any investment, expense or emergency that may arise.
Fifth Third Bank's secured line of credit is designed for Fifth Third Bank customers who have asset backing and want good financing. If their terms and conditions do not meet your expectations, there are other alternatives in the Busconomico database.
Español: Línea de crédito asegurada de Fifth Third Bank