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: 12 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
