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CD/Savings Lines and Loans

Get a competitive rate on a loan or line of credit using your First Horizon CD or savings account.

Find the right lending solution for your needs.

A loan gives you the total amount you are borrowing up front and requires fixed monthly payments throughout your loan term. A line of credit lets you withdraw as much cash as you need at any point in time and pay as little as 3% of your balance or interest only.

Loan Amount and Loan to Value

 

CD/Savings Secured Installment Loan:

  • Minimum: ≥$2,000
  • Maximum: 100% of available funds in account
  • Maximum Loan to Value: Up to 100% of account balance

CD/Savings Secured Line of Credit:

  • Minimum: ≥$2,000
  • Maximum: 100% of available funds in account
  • Maximum Loan to Value: Up to 100% of account balance

Terms and Repayment

 

CD/Savings Secured Installment Loan:

  • Minimum term: 2 months
  • Maximum term: 60 months
  • Repayment – choose one of the following options:
    • Equal monthly payments to fully amortize the loan up to 60 months
    • Interest-only monthly payments – 12 months

CD/Savings Secured Line of Credit:

  • Terms: Up to 60 months
  • 3% of cycle end balance, minimum of $50 or actual balance if line is under $50
  • Interest-only monthly: Accrued finance charges or $50, whichever is greater

Collateral

 

  • First Horizon Certificate of Deposit
  • First Horizon Savings Account
  • Minor/Custodian CDs and Bump CDs CANNOT be used as collateral

Notes

 

  • Savings secured loans have a fixed rate
  • The maturity date of the loan cannot exceed the maturity date of the CD by more than 30 days
  • CD Secured Line of Credit
    • Check Access
    • Variable Rate based on WSJ Prime + a fixed Margin
    • Overdraft Protection Available
    • Floor Rate of 3% applies

Fees

 

  • Fees may apply

 

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