Steve Boland, president away from Shopping at Bank of The usa

Financial regarding The usa 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 number of economic alternatives and services designed to help clients bank confidently and improve their financial lives.

“Harmony Help is the newest into the a powerful set of transparent, easy-to-play with approaches to help all of our website subscribers budget, save yourself, purchase and you can acquire cautiously and confidently,” said D. “Anybody require the benefit to attain financial versatility and you can balances, as they are seeking simple, obvious choice and pointers to assist them to along the way.”

Financial away from The united states members increases the financial fitness by installing a benefit abuse, trying to generate their borrowing, and you will boosting the budgeting experience to some extent from this group of helpful options

Delivered from company’s award-effective electronic avenues and you can experienced financial specialists, this band of safer financial options assists satisfy clients’ everyday banking, deals and you can lending requires, and you may has:

  • 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 a lot more product details 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 2 billion website subscribers utilize this membership, that’s designed to enable them to purchase only the money it supply. Having SafeBalance, there are no overdraft charges additionally the month-to-month fix percentage is actually waived to have eligible students in chronilogical age of twenty-four otherwise readers signed up for our very own Prominent Rewards program. Clients produces repayments that have good debit credit or digitally whenever signed up for Zelle ® , mobile otherwise on the web banking.
  • Contain the Changes ® – Lead in the 2005, Secure the Transform are the first system of the type so you’re able to assist customers build offers by the automatically transferring free change from rounded right up debit cards transactions towards a bank account. Now, more than six mil website subscribers use Secure the Alter. Over the last fifteen years, this program has helped members direct over $fifteen million excessively switch to savings account.
  • Covered Card – This simple and you will smoother bank card might help readers introduce, bolster or rebuild its borrowing. Customers can put on getting an account with a security put out-of $three hundred. Having in charge credit conclusion, clients is also enhance their credit rating and you can, over time, will get meet the requirements getting their safety deposit came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood Homeownership Relationship, 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.

“We continue to establish different creative methods to let our very own members get to good economic footing,” said April Schneider, direct away from Individual and Small business Issues at Lender away from The usa. “Solutions such as for example Equilibrium Assist, SafeBalance and you will Safeguarded Credit let offer readers which have monetary balances, and certainly will use them a route to longer-name financial fitness.”

These solutions and services are available through the award-winning Bank of America Mobile Banking app and are supported by Erica, our digital assistant. These solutions are built to encourage good financial habits, as are additional resources available through Finest 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 usa is just one of the planet’s leading financial institutions, helping private customers, smaller than average middle-business people and large corporations having an entire a number of banking, paying, advantage government or any other financial and you will risk management products. The business brings unrivaled convenience in america, providing around 66 million individual and you can home business website subscribers which have just as much as cuatro,three hundred shopping financial centers, and just as much as step three,100000 financing locations, 2,600 financial centers payday loans in Gainesboro TN having a buyers Financing Monetary Choices Advisor and you may just as much as dos,200 team centers; up to 16,900 ATMs; and you can honor-winning digital banking that have whenever 39 million energetic profiles, as well as up to 30 mil mobile pages. Lender out-of America is actually a global frontrunner in the wealth government, corporate and capital financial and you can trade around the a general list of resource categories, offering agencies, governing bodies, associations and people globally. Lender out of America has the benefit of industry-leading support to whenever 3 million home business domiciles as a result of an effective package of innovative, easy-to-have fun with online products and services. The company suits website subscribers due to operations across the Us, its regions and you can everything thirty five regions. Lender out-of The united states Enterprise inventory (NYSE: BAC) was on the Ny Stock exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Financial regarding The usa newsroom and register for news current email address alerts.


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