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Schwab offers a line of credit against the stocks/bonds/cash you have in your brokerage account. Does anyone have experience with this ? When reading about it on their website, they charge an interest rate (which varies depending on collateral) plus a 1 month LIBOR.
Schwab Bank's Pledged Asset Line is an uncommitted, revolving non-purpose flexible line of credit secured by assets held in a separate Pledged Account maintained by Charles Schwab & Co., Inc. ("Schwab").
7 Μαΐ 2019 · Their are various ways to borrow money, but the Schwab Pledged Asset Line (low rates, no fees, secured by assets held at Schwab) seems promising. I do not current have any accounts with Schwab, but maintain brokerage accounts at two other institutions. Does anyone have any experiencing with this product?
A Pledged Asset Line from Charles Schwab Bank, SSB ("Schwab Bank") is a non-purpose line of credit that allows you to borrow against the non-retirement assets in your portfolio— without having to liquidate your investments.
For examples sake, let’s say your $250k in ledger assets are determined to hold a $175k loan value. Another account will be created that acts as the “Line of Credit”. This account will show you have $175k available to borrow.
https://www.schwab.com/pledged-asset-line. Its a great product, and very easy to use. E*Trade also have a similar product. Just call the number listed there for a Banking representative they will answer all your questions and walk you through opening the account if needed.
9 Ιαν 2024 · The Pledged Asset Line (PAL) at Charles Schwab Bank is a valuable tool for investors who want a flexible and potentially cost-effective borrowing solution. I often recommend it to my clients here at Hamilton Financial Planning.
