Business PowerLineSM Great Rate

great rate

Thank you for being a valued American Savings Bank business customer. It’s almost the end of the year, and we know how important it is for your business to be financially ready for the New Year. We’re here to help with an exclusive offer for your Business PowerLineSM account – a very low interest rate of 2.49% APR, fixed for one year when you make a draw of $5,000 or more from your line!

Your new lower rate can help you:

  • Save money on holiday and end-of-the-year expenses
  • Purchase additional inventory or supplies for the busy holiday season
  • Pay off higher interest credit cards and loans**

 

Here’s how you can take advantage of your exclusive offer:*
Just use your Business PowerLine account indicated in your letter from November 7 through December 15, 2016, and make $5,000 or more in qualifying advances or purchases (“transactions”). It’s easy – there are no forms to complete or receipts to mail.

At the end of the promotion, we will verify your transactions – if qualified, we will mail you a letter to confirm your Business PowerLine qualified for this exclusive interest rate offer.

For more information stop by any branch or call your Business Relationship Officer today.

 

* In order to qualify for the new fixed rate of 2.49% APR for 1 year, the minimum total draw amount of $5,000 in qualifying advances or purchases (“transactions”) must post during the period November 7, 2016 through December 15, 2016 to the Business PowerLine account indicated in the letter you received in the mail. If this account is 30 days or more past due, or if the current interest rate on this account is a special rate offer that was received in the last 60 days, this account will not be eligible for this special offer. See statement for current variable rate.

** Funds may not be used to pay off an existing American Savings Bank line or loan.

Qualifying transactions include:
Business PowerLine checks and transfers (payable to non-American Savings Bank third-parties) that post to the Business PowerLine account number indicated in the letter during the period November 7, 2016 through December 15, 2016. Qualifying transactions are subject to verification by American Savings Bank; all decisions made by American Savings Bank, as to the eligibility of transactions, will be final.

Transactions that do not qualify include:
Payments to pay-off or pay-down any American Savings Bank loan or line of credit account; as well as any transaction that does not post to your account during the period November 7, 2016 through December 15, 2016.

Rate Change:
If your qualifying transactions post to your account by December 15, 2016, we will reset your interest rate effective December 31, 2016.

Once confirmed, American Savings Bank will apply the special rate of 2.49% APR (0.006822% daily periodic rate, subject to minor variations due to rounding) to the Business PowerLine account effective December 31, 2016, and this rate will remain in effect through December 29, 2017, or until the end of the Maturity Date for this account, whichever comes first. Once the fixed rate term expires, the terms and conditions of this Business PowerLine account will revert to those in the applicable Agreement.

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