Compare Loans and Lines of Credit

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Compare Loans and
Lines of Credit
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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
  • No annual fee
  • No collateral required

  • Access line of credit by checks or Online Banking
  • No interest accrued until the line is used

  • Fixed interest rate
  • No annual fee
  • No collateral required

  • Fixed interest rate
  • No interest accrued until the line is used
  • No collateral required
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 - $70,000

Term

10-year draw
20-year repayment

120 months

Fixed
9.99% to 23.99%4

Variable - changes monthly from 4.50% to 18.00%7

Kalo Plus Checking (0.10% discount) and Kalo Deluxe Checking (0.15% discount) off the margin for the non-promotional interest rate offered, subject to the floor rate5

Fixed
7.62% to 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:
No payment during the first 12 months

Interest Only Period:
6 months of 5.50% APR interest-only payments for months 13 to 18

Principal & Interest Period:
102 months of fixed principal and interest payments for months 19 to 120

The greater of $30 or 5% of principal balance plus interest
Immediate Cash


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)



No. Access to credit is only via transfers to your linked checking account to cover overdrafts.
via Checks



No. Access to credit is only via transfers to your linked checking account to cover overdrafts.
  1. Additional documentation required for amounts over $400,000 up to $1,000,000.
  2. You will be assessed a $50 annual fee on your first periodic statement and annually thereafter during the draw period. The annual fee may be waived by setting up automatic payments from an ASB Kalo DeluxeSM Checking or Private Banking Checking account at loan signing. Cancellation of automatic payments from the Kalo Deluxe Checking or Private Banking Checking account anytime during the draw period may cancel the annual fee waiver and the fee will be assessed annually thereafter.
  3. Early Closing Fee will not be assessed if (i) your Credit Limit is twenty-five thousand dollars ($25,000.00) or less, (ii) you sell the collateral to an unrelated/unaffiliated third-party, or (iii) you payoff this Agreement with proceeds from a real estate secured loan from us.
  4. Rate is based on individual’s credit worthiness. See Consumer Loans and Lines Rate Sheet for current interest rates and APRs. Rates are subject to change at any time without prior notice.
  5. Rate and product type are based on individual’s credit worthiness. Variable rate includes an index plus margin and subject to a floor rate of 4.50% and maximum APR of 18.00%. Index is subject to change monthly and is based on the highest Prime Rate published in the Wall Street Journal. Rates are subject to change at any time without prior notice.
  6. A discount is offered for Preferred CreditLine Overdraft Protection accounts. The Kalo Plus or Kalo Deluxe Checking account must be open at the time of loan signing for the discount to be applicable. For details, please refer to your loan documents or disclosures.