Cash-Secured Loan Info
M&T Bank's cash secured personal loan allows you to obtain cheap financing thanks to the money deposited with the bank in the form of certificates of deposit or savings accounts.
The interest rate ranges from 7.24% to 9.49% APR, and you can get the lowest if the term does not exceed 60 months, if you have automatic payment activated from your checking account and you are a MyChoice Premium or Power Checking account holder.
In addition, you have access to double the amount of the unsecured version, being able to borrow up to $100,000 and also enjoy a longer repayment term, up to 10 years.
The amount of money you borrow can be at most equal to the amount you have on deposit at the bank, which will serve as collateral and cannot be withdrawn until you finish repaying the borrowed money.
To apply for a Cash-Secured loan from M&T Bank you can access the private part of the website with your username and password or through the mobile application and contract it there. Another option is to go to one of the more than 1,000 offices that the bank has in several states in the northeastern United States.
Español: Préstamo Asegurado de M&T Bank