Steve Boland, president out-of Retail from the Lender regarding America

Lender regarding The usa today introduced Balance Assist™, a revolutionary new solution that provides a low-cost first payday loans Ashland City TN 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 options and services designed to help clients bank confidently and improve their financial lives.

“Balance Let is the newest for the a robust gang of clear, easy-to-use remedies for let our very own website subscribers finances, rescue, invest and acquire carefully and you may with full confidence,” told you D. “Someone wanted the power to achieve financial liberty and stability, and tend to be seeking to effortless, obvious choice and recommendations to assist them in the process.”

Bank off The usa clients increases their economic exercise by establishing an economy discipline, trying to make the credit, and you may boosting the cost management feel partly by this band of beneficial possibilities. Produced from the company’s prize-effective electronic streams and you may knowledgeable fiscal experts, so it band of safe financial possibilities facilitate fulfill clients’ casual financial, offers and credit requires, and you can comes with:

This type of options and properties appear through the prize-successful Lender out-of The usa Cellular Banking software as they are supported by Erica, our digital assistant

• 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 device 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 2 million website subscribers utilize this account, that is made to help them purchase just the money they offer. With SafeBalance, there aren’t any overdraft costs together with month-to-month maintenance percentage is waived to have eligible college students under the age of twenty-four otherwise members signed up for our Popular Advantages system. Members tends to make costs with a great debit card or electronically whenever enrolled in Zelle ® , mobile or online banking.
• Keep the Transform ® – Brought during the 2005, Contain the Alter is actually the initial program of the type so you’re able to assist subscribers build coupons because of the instantly transferring free go from round upwards debit cards transactions on the a bank account. Today, more than six mil website subscribers use Support the Changes. During the last 15 years, this choice keeps assisted subscribers direct more than $15 mil in excess change to discounts accounts.
• Secured Card – This simple and you may simpler credit card can help website subscribers establish, reinforce or reconstruct their borrowing. Subscribers can put on to have an account that have a security deposit off $3 hundred. With responsible borrowing from the bank choices, customers can also be enhance their credit score and you will, through the years, could possibly get be considered for the security put returned.
• 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.

“I still build different imaginative approaches to assist our readers achieve strong monetary footing,” told you April Schneider, head of Individual and you will Small company Points during the Bank from America. “Solutions such as for example Harmony Let, SafeBalance and you will Secured Cards let render members that have economic balances, and will wear them an approach to offered-term monetary wellness.”

These solutions are built to encourage good financial habits, as are additional resources available through Top Currency Designs ® , 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

Financial out-of The usa is among the world’s best creditors, helping individual users, small and middle-sector organizations and enormous providers having the full a number of financial, purchasing, house government and other economic and you will risk administration services and products. The company brings unmatched comfort in america, helping whenever 66 million user and you may business clients having everything cuatro,3 hundred retail economic centers, along with just as much as 3,100000 credit stores, dos,600 monetary locations which have a buyers Capital Economic Possibilities Coach and you will just as much as 2,2 hundred company centers; everything sixteen,900 ATMs; and you may award-effective digital financial that have just as much as 39 mil energetic pages, also as much as 29 million cellular users. Financial from The united states is a major international chief from inside the wide range administration, business and you will financial support financial and you will exchange around the a broad a number of resource classes, serving organizations, governments, associations and individuals international. Lender regarding The united states also provides industry-leading service in order to as much as 3 billion small company home as a result of a great package out-of creative, easy-to-explore on the internet services and products. The company provides website subscribers as a consequence of procedures along the You, its territories and approximately 35 places. Financial from The united states Agency stock (NYSE: BAC) try listed on the New york Stock exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank away from America newsroom and register for development current email address notice.