A Passbook Savings Secured Loan is a convenient way to borrow money at a low interest rate. With a passbook secured loan you are borrowing against funds you have on deposit with Timberland Bank.
Your loan is secured by your own savings and is payable in flexible terms that are convenient for you: weekly, bi-weekly, monthly or annually. Your savings stay right where they are, safe, secure and still earning interest and fully insured to the limits set by the FDIC.
Convenient Payment Options
With the convenience of Automatic Payment Service (APS) your payment will be automatically deducted from your Timberland account on the day you set. You'll never worry about a due date or a missed payment.
You can borrow any amount up to 90% of your available balance with a Passbook Loan—and receive your cash the same day you request it.