Banky team Reviewed editorial answerMany banks offer loans or financing secured by their certificates of deposit or savings deposits, often at a percentage of the deposit's value, not necessarily 100%.
Key points
Before proceeding, inquire about the maximum loan amount, the interest rate above the certificate's yield, the loan term, and whether the certificate remains held until repayment.
Having the certificate provides security, but it doesn't mean the financing is free.
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.