CD Loan: What Is It & How Does It Work?

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What is a CD Secured Loan?
How Does a CD Loan Work?
Features of a CD Loan
Interest Rates
Approval Rate
Access to Funds
CD Loans: Common Reasons to Get One
Establish Credit
Emergency Fund
CD Loans Pros and Cons
CD Loans Pros
Interest
Credit Score Requirements
CD Loans Cons
Need a CD
Fees
CD Funds Frozen
Lose Money
Alternatives to a CD Loan
Personal Loan
Credit Card
Cash
The Takeaway
Frequently Asked Questions
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About the Author
Lauren Ward is a personal finance expert with nearly a decade of experience writing online content. Her work has appeared on websites such as MSN, Time, and Bankrate. Lauren writes on a variety of personal finance topics for SoFi, including credit and banking.
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