Fifth Third Bank Secured Personal Loan review

Updated October 2, 2023.

Secured personal loan without fees so you can get up to half a million dollars with a reduced interest rate, by providing as collateral the money you have deposited in savings accounts, CDs and investment accounts in the entity itself.

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General

APR:	8.50%
Interest:	8.50%

Loan commissions

Study commission:	$ 0
Opening commission:	$ 0
Commission for advance payment:	$ 0

Loan limits

Minimum amount:	$ 2,000
Maximum amount:	$ 500,000
Minimum of months:	12
Maximum of months:	60

Secured Personal Loan Info

Secured loans consist of normal loans that are backed by a cash deposit that serves as collateral in case the borrower is unable to repay the loan capital.

This allows the bank to assume less risk, which enables it to apply much more favorable conditions, such as lower interest rates and lower requirements. Some of these loans can even be offered with a low credit score or no credit at all.

How much money can I get and for how long?

Fifth Third Bank's secured personal loan allows you to get up to $500,000, although it will always depend on the amount you can put down as a deposit, which will be deposited with the bank in your savings, certificate of deposit and investment account balances.

Thus, you will be able to obtain between 50% and 100% of the amount deposited in the above products.

As a minimum term you will have 12 months to repay the money and a maximum of 60.

What is the cost of the Fifth Third Bank secured loan?

With this personal loan you have much better financial terms than with most. For starters, you won't have to pay any fees, either investigation or origination fees.

Interest rates are also lower, ranging from 8.50% to 11.25% APR.

Español: Préstamo asegurado de banco Fifth Third

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