Share Secured 

A loan that is pledged by funds in your savings account. Share secured loans normally have lower interest rates than other loans. These funds are placed on hold and cannot be withdrawn. As payments are made on the loan, the pledge amount decreases, making more savings available with each payment. Financing is available for up to 60 months. The loan is reported to the credit bureau as a secured loan and the savings account still earns interest on the pledged funds.