A Savings Account Loan is a secured loan for which the borrower pledges their First Federal Certificate of Deposit as collateral for the loan.

The Savings Account Loan is beneficial to an accountholder needing immediate funds because there is no loss of earnings on an account, and planned savings programs remain undisturbed.

FEATURES

• DIRECT CASH LOAN repayable in a Lump sum or periodic payments.
• USE FOR ANY PERSONAL PURPOSE including purchase of appliances, furniture, bill consolidation, vacations, etc.
• NO QUALIFICATIONS.
• IMMEDAITE CASH.
• FIXED SIMPLE RATE
• LOAN LIMITS range from minimum of $500.00 to a maximum of 90% of collateral value.
• TERMS maximum 2 years or maturity of collateral, whichever comes first.
• NO PREPAYMENT PENALTIES.
• NO MONTHLY PAYMENT REQUIRED, however, monthly payment can be arranged if so desired.
• FEES none.

For more information about First Federal's Savings Account Loan, or any other accounts and services, please phone or stop by a First Federal Bank nearest you.