Loan rates listed are the lowest and highest APRs available. Your actual rate is based on credit performance. Lowest rate shown is for well-qualified borrowers and includes automatic payment and electronic document discount. Standard account and credit qualifications apply. Loan subject to final credit approval. Features of our Deposit Secured Loans include: Maximum of 60 months, with minimum payments of interest due quarterly. If using a Certificate of Deposit as collateral, the term of the loan cannot exceed the term of the CD. Click here to apply for a Deposit Secured Loan today. SunTrust CDs and Savings Secured Loans provide savings solutions that double as secured loan options. Apply online in less than 15 minutes. A personal loan cite::1407::cite to help pay for household goods, unexpected expenses or any personal need with a scheduled repayment term. This type of loan is secured by a personal CD/Savings account. No pre-payment penalty; View and pay loans easily through Amegy ® Online Banking.

• Certificate Of Deposit Loan
• Cd Loan Terms
• Cd Loan Calculator
• Cd Loans Near Me

Certificates of deposit, or CDs, are powerful, interest-bearing investments that reward investors for leaving cash untouched for a fixed period of time. A CD calculator can help you to know how much you can expect to make on your investment and how much to invest to reach your financial goal.

How to calculate CD earnings

Using a CD calculator is simple. Input the basic information about the CD option you're looking at, and click the calculate button. The information you'll need is your initial deposit size, how long the CD is invested for and the APY rate offered.

You can compare different scenarios by changing out these numbers to see the effects it will have on your total ending balance, interest earnings, total earnings and how that matches up against the current national average.

• Initial deposit: The amount of money you initially invest in your CD
• Period (months and years): The time period that your CD is for. This is the period of time you're expected to leave your funds untouched to get maximum gains.
• APY: The annual percentage yield (APY) is the percentage rate of return you'll see over the course of one year. APY, as opposed to the interest rate, does take into account the effects of compound interest.
• Total balance: The amount you should have available for withdrawal at the end of your CD investment term.
• Interest earnings: The portion of your earnings that come from interest
• Your earnings: The total earnings you'll see at the end of your CD term, including interest and the effects of compounding
• National average: The amount you would earn with a CD that mirrored the current national average rate of return

Why use a CD calculator

As long as you're getting a CD through a trusted banking partner that is FDIC insured or NCUA insured, the major difference between options will be the rate of return. CD calculators allow you to quickly determine how much you're going to make with a particular CD option. If you're looking to meet a particular savings goal, a CD calculator lets you quickly change period lengths, deposit amounts and APY rates to find the right option.

How to pick the best CD provider

The first thing you should look for when selecting a CD provider is whether it is FDIC- or NCUA-insured or not. You will want to stick to investing in financial institutions that have government backing of the funds.

From there, you'll want to look at the APY rates to see where you might get the best return. Remember, APY rates will vary based on the term of the CD and also may vary based on the amount of money you have invested. Always take the time to compare the best CD rates to make sure that you're locking your money into the right account.

Lastly, make sure you look at the early withdrawal penalties. Not all institutions assess the same penalties. Ideally, you'll keep the money in the CD until maturity, but it's good to know what will happen if you find a sudden need for the money.

What happens if you withdraw early

Unless you're taking advantage of a no-penalty CD like the ones offered through Ally Bank, you will incur an interest penalty if you withdraw your funds early. The idea of a CD is that the bank knows it can use your funds for different operations during the fixed period. When you withdraw early, the bank will assess a penalty because of this.

Certificate Of Deposit Loan

Different financial institutions will have different withdrawal penalties. For example, Alliant Credit Union will take back the interest earned up to 120 days for a CD that is open 18 to 23 months. Ally Bank will only take up to 60 days of interest for CDs 24 months or less. Keep in mind that the bank or credit union won't take any of your initial deposit as a penalty.

YOUR ARVEST ACCOUNTS CAN SECURE YOUR LOANS

At Arvest, we want to ensure we're doing everything we can to help you get the funds you need. If you have money in a certificate of deposit account, you can use that as collateral when you apply for a secured loan or line of credit. Take a look below at the different options available at Arvest and apply today!

If you have a Certificate of Deposit, you can use that as collateral to get a secured loan that will be paid back in installments over a period of time.

Cd Loan Terms

Another way to use your CD is to obtain a line of credit, which differs from a loan in that you can draw from your line of credit as needed and repay it based on how much of it you've used. You can also redraw from the credit and repay it as needed until the maturity date.

Cd Loan Calculator

Cd Loans Near Me

Arvest Bank only accepts applications from Arkansas, Kansas, Missouri and Oklahoma. If you are submitting an application from outside of these areas, we appreciate your interest but cannot offer lending services at this time. However, if the collateral you are purchasing/refinancing is located in our lending area, we may be able to help! Call our lending specialists at (866) 952-9523 to discuss your specific financing needs.