Lender off America 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 Assist ‘s the current for the a strong group of transparent, easy-to-explore approaches to help all of our clients finances, cut, invest and borrow cautiously and you can confidently,” said D. “People require the advantage to attain financial liberty and balances, as they are seeking simple, obvious selection and pointers to enable them to in the act.”
Financial from The united states readers can increase their monetary exercise by installing an economy discipline, attempting to create their borrowing, and improving their budgeting event in part from this number of of good use choices. Introduced from the organization’s award-winning digital avenues and you will experienced fiscal experts, this group of secure banking selection support fulfill clients’ casual financial, deals and credit requires, and comes with:
These types of possibilities and you may properties appear from honor-winning Financial from The united states Mobile Banking application and are supported by Erica, the digital secretary
- 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 more unit info 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™ – Now, more than dos billion members utilize this account, that’s made to help them purchase only the currency it have available. Which have SafeBalance, there aren’t any overdraft fees and the monthly maintenance payment is actually waived having eligible people within the age of 24 otherwise readers subscribed to the Prominent Advantages system. Readers helps make repayments that have a good debit credit otherwise digitally when signed up for Zelle ® , cellular otherwise on the internet banking.
- Secure the Change ® – Brought during the 2005, Contain the Transform is the initial system of their kind in order to assist website subscribers make deals of the automatically depositing free change from circular upwards debit credit transactions on a bank account. Today, over 6 mil clients have fun with Support the Changes. Within the last fifteen years, this program possess helped members head more than $15 mil in excess switch to savings accounts.
- Secure Card – This simple and you may convenient charge card will help readers introduce, reinforce or rebuild their borrowing. Members can use having a merchant account that have a security put off $three hundred. Which have in control borrowing from the bank decisions, readers can be improve their credit history and you may, over time, could possibly get qualify getting their coverage deposit returned.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion People 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.
“I consistently produce some innovative ways to help the website subscribers get to solid economic footing,” said April Schneider, lead out of Individual and you can Business Products in the Bank out of America. “Solutions such as for example Balance Assist, SafeBalance and you can Covered Card help bring subscribers that have financial balance, and will put them on an approach to longer-name financial health.”
These solutions are built to encourage good financial habits, as are additional resources available through Top Currency Patterns ® , our free financial education platform that provides a simple, accessible way to connect people to the tools and education 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 out-of The united states is one of the world’s best creditors, offering individual people, smaller than average middle-markets organizations and enormous businesses that have the full list of financial, investing, resource government and other monetary and you will exposure administration services and products. The firm provides unmatched convenience in the us, helping just as much as 66 billion individual and you may business subscribers which have everything 4,300 merchandising monetary centers, including everything step 3,000 credit stores, 2,600 financial centers with a customer Financial support Monetary Choice Mentor and you may everything 2,two hundred business centers; just as much as sixteen,900 ATMs; and you can award-effective electronic financial with up to 39 billion active users, in addition to around 30 billion mobile profiles. Financial out-of The usa is actually an international chief into the riches administration, business and you will resource financial and you may trade around the a general list of house classes, serving firms, governments, organizations and other people global. Lender of The united states also provides globe-leading assistance to up to step 3 mil small business house courtesy an excellent suite away from innovative, easy-to-have fun with on the web products and services. The organization serves members due to operations over the All of us, its regions and approximately 35 regions. Bank from America Agency inventory (NYSE: BAC) is actually listed on the Nyc Stock exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank away from The usa newsroom and sign up for news email address alerts.