Steve Boland, chairman out of Shopping at the Bank out of America

Lender regarding 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 band of financial choice and services designed to help clients bank confidently and improve their financial lives.

“Balance Assist is the current for the a strong number of clear, easy-to-fool around with methods to help the website subscribers budget, save yourself, spend and obtain cautiously and you may with certainty,” told you D. “Someone need the power to get to monetary independence and you can balance, as they are trying to easy, obvious options and advice to enable them to in the process.”

Financial off The united states subscribers can increase their monetary physical fitness because of the installing a benefit discipline, attempting to create their borrowing, and you may improving the cost management enjoy partly through this number of helpful choice. Produced from the businesses prize-winning digital streams and you may experienced financial experts, that it set of secure banking choices facilitate fulfill clients’ casual banking, deals and financing demands, 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 equipment 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™ – Today, over 2 million readers make use of this account, that is designed to assist them to spend just the money it have available. Which have SafeBalance, there are not any overdraft costs additionally the monthly restoration payment was waived having eligible college students under the age of twenty-four otherwise subscribers subscribed to our Popular Perks program. Customers makes money having an excellent debit cards otherwise digitally whenever subscribed to Zelle ® , cash loan services Tennessee mobile otherwise on the web financial.
  • Secure the Alter ® – Lead into the 2005, Contain the Changes is the first program of their kind so you’re able to let customers generate discounts from the immediately depositing spare go from game right up debit credit transactions for the a bank account. Now, over six mil clients explore Keep the Change. During the last fifteen years, this method has actually helped clients head over $fifteen billion excessively change to deals account.
  • Secure Card – This easy and you will easier mastercard can help clients expose, bolster or rebuild its borrowing from the bank. Members can use to have an account that have a security put of $three hundred. Having in control borrowing from the bank conclusion, clients can enhance their credit rating and you will, over the years, can get be considered to possess their security put came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion People Homeownership Connection, 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 always write several imaginative approaches to help the members achieve good monetary footing,” said April Schneider, lead regarding User and you will Business Items within Lender away from The united states. “Choices eg Balance Let, SafeBalance and you can Covered Cards help give readers having economic balance, and will wear them an approach to expanded-term financial fitness.”

For lots more Lender regarding The usa information, plus dividend announcements or any other important info, go to the

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 Greatest 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 off The usa is among the planet’s best loan providers, offering private people, smaller than average center-sector businesses and large corporations with a complete set of banking, expenses, investment administration or any other economic and you will exposure administration products. The company will bring unmatched comfort in the us, offering just as much as 66 mil user and home business website subscribers which have approximately cuatro,three hundred shopping monetary locations, as well as whenever step 3,one hundred thousand lending locations, dos,600 monetary facilities which have a consumer Financial support Economic Choice Advisor and you may up to 2,200 providers facilities; approximately 16,900 ATMs; and prize-profitable electronic banking which have as much as 39 mil energetic users, plus whenever 30 billion cellular profiles. Lender from The united states are an international chief inside the wealth administration, corporate and you will financial support banking and you may change around the a broad set of asset kinds, offering corporations, governing bodies, associations and folks around the world. Bank away from The usa even offers community-top service so you can as much as step 3 million small company house using a great collection away from creative, easy-to-play with online services. The organization suits customers because of businesses over the You, their regions and you may everything thirty five places. Bank regarding America Firm inventory (NYSE: BAC) is listed on the Nyc Stock market.

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