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 09/01/2021, subject to the floor rate of 5.25% APR

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Download Application  |  Consumer Loan Fee Schedule

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 $50,0003

  • 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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Product Guide

Additional product information and what you need to know

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  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 09/01/2021 to 11/30/2021 that fund by 12/31/2021 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 06/01/2021 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%). 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 first periodic statement and a $25 Annual Fee is assessed annually thereafter for years 2 and 3.
  3. Loan application required. Offer is for creditworthy applicants (including income verification) who qualify for an American Savings Bank (ASB) Personal Line of Credit (PLOC).