Steve Boland, president of Retail on Lender from America

Financial of 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 group of economic solutions and services designed to help clients bank confidently and improve their financial lives.

“Harmony Let is the most recent in the a powerful number of clear, easy-to-play with approaches to help all of our subscribers funds, rescue, purchase and acquire cautiously and you can with full confidence,” said D. “Individuals wanted the advantage to achieve economic versatility and you may balance, and are generally looking to simple, clear selection and information to help them along the way.”

Financial of America members increases its financial fitness of the installing a savings abuse, working to generate their borrowing from the bank, and you may improving the cost management skills partly from this selection of useful choices. Put from the company’s prize-effective digital avenues and experienced financial specialists, this set of safer financial possibilities helps fulfill clients’ everyday financial, discounts and you will financing need, and you can 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 facts 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 mil members make use of this membership, that’s designed to enable them to purchase only the money it supply. Having SafeBalance, there are no overdraft costs as well as the monthly maintenance percentage are waived to have eligible people in chronilogical age of 24 or members enrolled in the Common Perks program. Clients helps make costs which have good debit card otherwise electronically whenever subscribed to Zelle ® , mobile or on line financial.
  • Keep the Changes ® – Produced in 2005, Hold the Change is actually the first system of the type in order to let subscribers create deals by immediately depositing spare change from circular upwards debit credit purchases for the a family savings. Now, more than six million clients fool around with Support the Alter. Within the last 15 years, this choice has aided members direct more than $15 billion excessively change to coupons account.
  • Shielded Credit – This easy and you can much easier bank card might help customers establish, reinforce otherwise rebuild the borrowing. Clients can use to have an account that have a protection put regarding $3 hundred. With in control borrowing from the bank choices, website subscribers is improve their credit rating and you may, over the years, will get qualify to have their defense put 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 always make numerous creative methods to let all of our customers get to good financial footing,” said April Schneider, direct out of User and Small business Situations in the Lender off The usa. “Choices instance Harmony Assist, SafeBalance and you can Secured Cards help give readers that have economic stability, and can use them an approach to extended-label monetary fitness.”

To get more Bank regarding The united states news, along with dividend notices and other important information, check out 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 Better Money Activities ® , 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 united states is among the planet’s leading loan providers, serving private customers, small and center-sector organizations and enormous companies with the full range of financial, spending, asset government and other economic and risk government products and services. The company provides unmatched convenience in america, serving everything 66 billion individual and home business website subscribers that have as much as cuatro,3 hundred merchandising economic locations, along with approximately step three,100 financing centers, 2,600 economic locations with a buyers Resource Economic Choices Advisor and as much as dos,2 hundred company facilities; approximately 16,900 ATMs; and honor-effective electronic financial having as much as 39 mil effective pages, along with around 29 mil cellular users. Lender off America are an international commander into the wealth management, business and you may financing financial and you will trade round the an over-all variety of investment groups, offering providers, governments, institutions and individuals around the globe. Lender out of The united states also offers industry-leading support to help you whenever step 3 billion home business property due to a great package from creative, easy-to-have fun with on line services. The organization caters to readers by way of businesses along side United states, its regions and you will everything thirty five nations. Bank off The united states Firm inventory (NYSE: BAC) try listed on the online payday loans North Carolina Ny Stock market.