I have a savings account, and I'd like to know if I can make a loan to pay off some debts using my money as collateral? If so, how will that work?
Go to the bank that has the savings account on deposit, and request a savings secured loan. They will charge you a rate of interest greater than what you are earning. You'll make payments and when the loan is repaid, the hold will be released and you will again have access to your funds. This is one way many people will establish credit.
If you already have a good credit rating, you may save money by using your savings to payoff those bills and instead of making loan payments, make deposits back to your savings account. If you pay yourself the way you were going to pay the bank you will have more money available to you. You'll have the interest the bank would have paid, plus the interest you earned on the savings account. If your idea is to borrow more than what you have on deposit, it depends on your credit qualifications and how much of an unsecured loan you would qualify for to be able to do this.
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Go to the bank that has the savings account on 