There is no cost to open an account with American Savings Bank, and there is no minimum deposit to open checking, statement savings and ASB Tiered Savings accounts, according to American Savings Bank. As of 2015, the Kalo Simple checking and Holiday savings accounts do not impose monthly service fees.
Kalo Plus checking and Kalo Deluxe checking have service fees, but the bank waives the fees if account holders maintain certain financial activity levels, notes American Savings Bank. The bank waives the statement savings account and the ASB Tiered savings account monthly fees if the account holders maintain certain minimum daily or monthly balances. The bank requires a minimum deposit to open a money market account, and waives the monthly service fee if the minimum amount remains in the account. Holiday savings accounts require a minimum deposit. The bank closes accounts that maintain zero balances for at least 30 consecutive calendar days.