Bank regarding The united states today introduced Balance Assist, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in a comprehensive gang of economic alternatives and services designed to help clients bank confidently and improve their financial lives.

Balance Help ‘s the current for the an effective gang of clear, easy-to-use ways to let our very own customers funds, save yourself, spend and use cautiously and you can with certainty, told you D. Anyone wanted the benefit to get to monetary versatility and you can balance, and so are looking to easy, clear choice and you may advice to help them in the process.

Financial out of The united states subscribers can increase the financial exercise from the setting-up a discount discipline, working to create their credit, and you will boosting its cost management experiences to some extent through this gang of of good use choices. Lead through the businesses prize-winning digital avenues and you can experienced financial experts, it set of safe banking options helps satisfy clients’ casual banking, deals and you can lending demands, and you may boasts:

• Balance Assist With this new short-term, low-cost loan, Bank of America clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the amount advanced to their account. Repayments would be made in three equal monthly installments over a 90-day period. To learn more, review these even more unit information and eligibility criteria. Borrowers must have been a Bank of America checking account client for at least one year. Balance Assist is scheduled to launch in select states by and in remaining states early next year.
• SafeBalance Today, over dos mil members utilize this membership, that is made to assist them to purchase just the currency they have available. With SafeBalance, there are no overdraft costs additionally the monthly maintenance percentage try waived getting eligible people under the age twenty four otherwise members signed up for all of our Common Rewards program. Website subscribers tends to make costs which have a beneficial debit cards otherwise digitally when signed up for Zelle , mobile or on the internet banking.
• Contain the Change Brought for the 2005, Keep the Change are the original system of their type to assist readers make savings by instantly deposit free move from game upwards debit cards purchases on a savings account. Today, more 6 billion readers play with Hold the Transform. In the last 15 years, this option have assisted subscribers head over $15 billion excessively switch to coupons account.
• Safeguarded Card This easy and easier charge card will help clients expose, reinforce or rebuild their credit. Subscribers can apply to have a merchant account that have a security deposit off $300. That have responsible credit decisions, readers is also boost their credit score and you may, over the years, may qualify to have the coverage put came back.
• Affordable Home Loans In early 2019, Bank of America launched its $5 billion Community Homeownership Union, which has already helped nearly 13,000 low- and moderate-income homebuyers achieve homeownership through low down payment loans and down payment and closing cost grants.

These selection and you will characteristics arrive from honor-successful Lender from The usa Cellular Financial software consequently they are backed by Erica, our digital secretary

We always establish many imaginative remedies for let the subscribers reach good economic footing, told you April Schneider, head away from Consumer and Business Items in the Financial out of The united states. Solutions particularly Equilibrium Let, SafeBalance and you will Secure Cards let offer clients which have financial stability, and can put them on a path to longer-label monetary fitness.

These solutions are built to encourage good financial habits, as are additional resources available through Best Money Models , our free financial education platform that provides a simple, accessible way to connect people to the tools and education payday loans Ohio they need to help take control of their finances. Since 2013, Better Money Habits content has been viewed more than 120 million times.

Bank of America

Lender away from The united states is one of the planet’s best loan providers, serving private people, small and center-markets organizations and enormous enterprises having the full range of financial, purchasing, investment management or other monetary and exposure management products. The company will bring unmatched benefits in the us, providing approximately 66 million individual and you can small business subscribers which have approximately 4,3 hundred shopping monetary centers, and additionally approximately 3,one hundred thousand financing locations, 2,600 monetary locations which have a customer Capital Monetary Choice Mentor and you may just as much as 2,two hundred company stores; up to sixteen,900 ATMs; and prize-effective electronic banking having whenever 39 million active pages, and additionally everything 30 billion cellular profiles. Financial from America are a major international commander for the riches management, corporate and you can funding banking and trading across the a broad selection of house classes, providing enterprises, governments, institutions and people around the world. Bank off America also offers globe-top assistance so you’re able to as much as 3 mil small company homes as a result of a beneficial suite of creative, easy-to-explore on line services. The business serves customers thanks to surgery across the Us, its regions and you can approximately 35 countries. Lender out-of The united states Company inventory (NYSE: BAC) was on the New york Stock-exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of The usa newsroom and create reports email notice.