Personal Line of Credit

Access to funds you need for unexpected expenses, sudden needs or major purchases

Current Promotional APR1

3.99%

For the first 6 months

Current Variable APR1

7.00%

As of 03/01/2021, subject to the 5.25% APR floor rate

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Product Features & Benefits

  • Unsecured line with a 3-year draw period2 followed by a 4-year repayment period

  • Line amounts range from $3,000 to $50,000, subject to qualification monthly variable interest rate

  • Accessible by check, PersonalExpress Visa® card, online or mobile via internal transfers, and in branch

  • Minimum payment of $30 or 2% of outstanding principal plus accrued interest during the draw period

  • Monthly payment of fully amortized principal amount plus accrued interest during the repayment period

  • Pay interest only on what you borrowed

  • No collateral required

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Common Questions:

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Loan application required. Offer is for creditworthy applicants who qualify for an American Savings Bank (ASB) Personal Line of Credit (PLOC).

  1. Annual Percentage Rate (APR) is 3.99% fixed for six months (months 1 through 6 introductory rate), from the date your new PLOC is opened. Introductory rate is based on borrower’s credit score and for approved applications received 03/01/2021 to 05/31/2021 that fund by 06/30/2021. Introductory rates are subject to change or discontinuance without prior notice. Bank reserves the right to not apply introductory rate to anyone receiving it previously. After the Introductory Rate ends, the interest rate is variable. Current variable rate effective 03/01/2021 is 7.00% APR to 17.75% APR, and is subject to change monthly based on the highest Prime Rate published in the Wall Street Journal, plus a margin (subject to the floor rate of 5.25%; maximum APR is 18.00%). Offer is subject to submission of PLOC application, credit history, income verification, and ASB’s underwriting policy. Rates are subject to change at any time without prior notice.
  2. There are fees assessed annually during the 3-year draw period. A Document Prep Fee of $25 is assessed during the 1st periodic statement and a $25 Annual Fee is assessed annually thereafter for year 2 and year 3.