| |
Description |
Fixed rate loans to solve big or small credit needs.
|
A flexible line of credit with quick and easy access to funds when you need it. |
A line of credit with higher limits secured by the equity in your home. |
A line of credit linked to your American Savings Bank personal checking account. |
| |
Key Features & Advantages |
• No annual fee
• No collateral required |
• Access line of credit by PersonalExpressSM
Visa® card, checks or Online Banking
• No collateral required
• No payment or interest until the line is used |
• Access line of credit by EquityExpressSM Visa®
card, checks or Online Banking
• No payment or interest until the line is used |
• Fixed interest rate
• No payment or interest until the line is used
• No collateral required |
| |
Uses |
A simple, easy way to pay for dental work, furniture, or appliances. |
A smart way to manage your cash flow or pay for major events like a wedding. |
Finance major expenses such as home renovations, college tuition, and long-term medical expenses. |
Overdraft protection for your checking account. |
| |
Credit Limits |
$2,500 to $50,000 |
$3,000 to $50,000 |
$10,000 to $1 million1 |
$500 to $15,000 |
| |
Term |
48 months |
3-year draw
4-year repayment |
10-year draw
20-year repayment |
ongoing, open-ended |
| |
Fees
| Application Fee |
$0
|
$0
|
$0
|
$0
|
| Document Preparation Fee |
$0 |
$0 |
$0 |
$0 |
| Annual Fee |
$0
|
$25
|
$0
|
$25
|
| Early Close Fee |
$0
|
$0
|
$500 if closed within 3 years2
|
$0
|
| Prepayment Penalty |
$0
|
$0
|
$0
|
$0
|
|
| |
Interest - Annual
Percentage Rate (APR)
(effective 4/1/2020)
|
Fixed
6.24% to 20.24%3 |
Variable - changes monthly from 7.00% to 17.75%4 |
Variable - changes monthly from 4.50% to 18.00%5 |
Fixed 18.00% |
| |
Monthly Payment |
Fixed monthly payments
(Principal and Interest) |
Draw Period:
The greater of $30 or 2% of the outstanding balance plus interest
Repayment Period:
Fixed principal portion equal to 1/48th of the outstanding principal balance at start of repayment period & interest.
|
Draw Period:
Interest Only or Principal plus Interest6
Repayment Period:
Fixed principal portion equal to 1/240th of the outstanding principal balance at start of repayment period plus interest.
|
The greater of $30 or 5% of principal balance plus interest. |
| |
Access to Credit
| immediate cash |
Yes
|
Yes
|
Yes
|
Access to credit transfers to your linked checking account to cover overdrafts.
|
| over-the-counter (branch) |
n/a |
Yes |
Yes |
| via checks |
n/a
|
Yes
|
Yes
|
| via Visa Card |
n/a
|
Yes
|
Yes
|
|
| |
ASB Online Banking with Mobile App7 |
Yes |
Yes |
Yes |
Yes |
| |
Other Benefits |
|
|
Fixed Rate Equity Loan Options available |
Automatic decisioning for lines up to $5,000 |
