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TeachMeFinance.com - explain savings account loan savings account loan -- a loan secured by funds on deposit in a savings account, normally maintained at the lending institution. Funds in the savings account equal to the amount of outstanding principal of the loan, may not be withdrawn. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.