A lender may require a lender’s security protection provision under ORS § 86.205 to 86.275 either as a direct reduction provision, an escrow account, or a pledge of an interest-bearing savings account in an amount not to exceed the maximum amount which a lender may require a borrower to deposit in a lender’s security protection provision under ORS § 86.240 and bearing interest at a rate not less than the rate required on lender’s security protection provisions by ORS § 86.245. [1975 c.337 § 2; 1987 c.577 § 1]