Compare Loans and Lines of Credit
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PERSONAL UNSECURED LOAN | HOME EQUITY LINE OF CREDIT | CLEAN ENERGY LOAN | PREFERRED CREDITLINESM OVERDRAFT PROTECTION | |
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Description | Fixed rate loans to solve big or small credit needs | A line of credit with higher limits secured by the equity in your home | Fixed rate loans to purchase or install eligible residential clean energy systems | A line of credit linked to your American Savings Bank personal checking account |
Key Features & Advantages |
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Uses | A simple and easy way to pay for planned or unplanned expenses | Finance major expenses such as home renovations, college tuition, and long-term medical expenses | A smart way to pay for your home's solar water heater, Photovoltaic (PV) system, PV Solar Water Heater, Solar Air Conditioning (A/C), or Battery Backup/Storage | Overdraft protection for your checking account |
Credit Limits | $2,500 to $50,000 | $10,000 to $1 million1 | $1,500 to $70,000 | $500 to $15,000 |
Term | 48 months | 10-year draw 20-year repayment | 120 months | Available until cancelled |
Fees | ||||
Application Fee | $0 | $0 | $0 | $0 |
Document Preparation Fee | $0 | $02 | $0 | $0 |
Annual Fee | $0 | $503 | $0 | $25 |
Early Close Fee | $0 | $500 if closed within 3 years4 | $0 | $0 |
Prepayment Penalty | $0 | $0 | $0 | $0 |
Interest - Annual Percentage Rate (APR) (effective 10/01/2023) | Fixed 9.99% to 23.99%4 | Variable - changes monthly from 4.50% to 18.00%5 | Fixed 7.62% or 8.985%4 | Fixed 18.00% Kalo Plus Checking (0.10% discount) and Kalo Deluxe Checking (0.15% discount) off the fixed, non-promotional interest rate offered6 |
Monthly Payment | Fixed monthly payments (Principal and Interest) | Draw Period: Interest Only or Principal plus Interest5 Repayment Period: Fixed principal portion equal to 1/240th of the outstanding principal balance at start of repayment period plus interest | Initial Period: Interest Only Period: | The greater of $30 or 5% of principal balance plus interest |
Access to Credit | ||||
Immediate Cash | Yes | Yes | Yes At loan closing, ASB disburses 50% of the loan amount to your contractor and the remaining 50% to your ASB checking account for you to pay your contractor according to the terms of your agreement with it. | No. Access to credit is only via transfers to your linked checking account to cover overdrafts. |
Over-The-Counter (Branch) | N/A | Yes | N/A | No. Access to credit is only via transfers to your linked checking account to cover overdrafts. |
via Check | N/A | Yes | N/A | No. Access to credit is only via transfers to your linked checking account to cover overdrafts. |
Available to Those Covered by the Military Lending Act | Yes | Yes | Yes | No |
Other Benefits | N/A | Fixed Rate Equity Loan Option (FRELO) available | N/A | N/A |