Current Promotional Rates:

PROMOTIONAL RATE:

3.99% APR*

For the first 6 Months

CURRENT VARIABLE RATE:

8.50% APR*

As of 11/1/19, subject to the floor rate of 5.25% APR

What is a PLOC?

A Personal Line of Credit works similarly to a credit card. You can use money from your credit line for whatever you need. As you use the funds, you will need to repay what you borrowed along with interest on the amount you borrowed. Interest rates tend to be lower than the interest rate of a credit card. This can make borrowing from a personal credit line a better choice for making big purchases. For example, if you need to pay contractors over a period of time for a home project, you can access the funds as you need them and pay the balance down as you go. It also can be helpful when you have a commission-based salary in Hawaii and have fluctuating income. Our Personal Line of Credit is unsecured, meaning you won’t have to provide collateral.

Features:

  • Unsecured line with a 3-year draw period1 followed by a 4-year repayment period
  • Line amounts range from $3,000 to $50,000 subject to qualification
  • Automatic Decisioning for lines up to $15,000
  • Monthly variable interest rate
  • Accessible by check, 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

 

Not sure if a Personal Line of Credit or Personal Unsecured Loan is right for you?
Click here to take a quick questionnaire >

Common Questions:

 

 

Loan application required.  Offer is for creditworthy applications who qualify for an American Savings Bank (ASB) Personal Line of Credit (PLOC).
  1. There are fees assessed annually during the 3-year draw period. A Document Prep Fee of $50 is assessed during the first year and a $50 Annual Fee during the second and third years.
*Offer is a six-month promotion (Promotion Period): Annual Percentage Rate (APR) is 3.99% fixed for six months (months 1 through 6), from the date your new PLOC is opened. Offer is based on borrower's credit score and for approved applications received 9/5/19 to 2/29/20 that fund by 3/31/20. Promotional rates are subject to change or discontinuance without notice. Bank reserves the right to not apply promotional rate to anyone receiving it previously. After the Promotion Period ends, the interest rate is variable. Current variable rate effective 11/1/19 is 8.50% 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%).