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Borrow money against your own savings.

Get a low rate, and enjoy the flexibility!

A share secured loan is a loan that uses the funds in a share account, otherwise known as a savings account, as collateral.

  • Borrow against your Interra savings account, money market, or certificate.
  • Get an APR1 equal to 3.00% above the APY2 of the account you are providing as collateral.3
  • A hold is placed on the funds used for the loan but, becomes available to you as you pay down the loan or pay it off.
  • Loan terms may vary, based on account provided as collateral.

Please contact Interra if you are interested in a share-secured loan.

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Can I borrow against my own money?

Yes. Share secured loans are essentially a way for you to borrow, using your own savings as the collateral. Instead of using all your savings to make a purchase and losing your safety net, you borrow against that sum while your money stays in your account.

How does a Share-Secure loan work?

The amount of the loan is limited to the amount of money on deposit within the account. The credit union will place a hold on the amount you want to borrow against.

Will a Secured loan build credit?

Yes. These loans are reported to the credit reporting agencies. If timely payments are made, it may have a positive result on your credit score.

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1 Annual Percentage Rate. Actual interest rate and APR may vary and subject to change without notice. 2 Annual Percentage Yield. APY is subject to change without notice. Fees may reduce earnings on the account. 3 All loans subject to credit and collateral review. APR for share secured loans will vary based on the APY of the account which is being pledged as security. For example, if a savings account earning 0.10% is pledged as security your APR for the share secured loan would equal 3.10% APR.