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Yes, most banks allow personal as well as auto loans on student savings account. You should check with your bank for more details on this.

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8y ago

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Where is the best place to have a mutual savings account?

A mutual savings and loan is the best place to have a savings account. There are plenty of good and reputable savings and loan banks out there. You can just look for them.


How can I use my savings account to secure a loan?

You can use your savings account as collateral to secure a loan by putting up a portion of your savings as security for the loan. This can help you qualify for a loan with better terms and lower interest rates.


Can you get a payday loan with a savings account?

No! You must have a credit account!


Is saving account a bank account?

If you have a savings account at a bank, then it is a bank account. If you have it in another kind of institution, such as a Credit Union or Savings and Loan, then it is not a bank account, although some people use the term "bank account" loosely and apply it to any savings account anywhere.


What does it mean to cosign on a savings account?

It's like cosigning a loan. It puts you at partial responsibility for the account.


What is the meaning of an offset loan and how does it work?

An offset loan is a type of mortgage where the borrower's savings or transaction account is linked to their home loan. The balance in the savings account is offset against the outstanding loan amount, reducing the interest payable on the mortgage. This can help the borrower pay off their loan faster and save on interest costs.


What is a brief description of what a savings account payday loan is?

There are many different varieties of ways that one can describe what a savings account payday loan is. The best way one can describe it is as cash advance that contains very high interest.


Is there a loan company that will do payday loans with a savings NOT checking account?

Highly unlikely. The check you offer them is a legal promise to pay. With a savings account, you have no means of making such a promise.


How do you use savings and loan association in a sentence?

I've already applied with several savings and loan associations. These three are the latest savings and loan associations to establish businesses in our town this year.


Can you get a loan without a banking account?

Banks and savings and loans may pre-approve you, but you will need to open an account with them if you choose to take the loan. If you have a problem opening an account, you will need to get that cleared first.


Can you borrow against personal savings account?

Yes. You can always "borrow" against your own funds. You can apply for a loan or just withdraw the amount you need from your personal savings account.


Do savings account holders access to loans?

Yes. Banks usually offer loans to anyone who is eligible to get one. If you have a savings account with the bank and have been a good customer, the chances of you getting the loan are significantly higher. But, just because you don't have an account, the bank cannot reject your loan application.