What is a loan secured against a savings certificate or deposit? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is a loan secured against a savings certificate or deposit?

Asked by Banky team 2 months ago 2 views
Banky team Reviewed editorial answer

It is a loan you obtain against your own funds deposited with the bank. You can be financed for up to 90% or 95% of the certificate's value.

It requires no proof of income, is disbursed the same day, and has no specific age requirement, and the interest rate is the certificate rate plus a margin of 2% or 3%.

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