Steve Boland, president out of Shopping during the Lender out of The united states

Financial from 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 set of economic choice and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Let is the newest in the a powerful group of clear, easy-to-play with answers to let the website subscribers funds, rescue, invest and acquire meticulously and with certainty,” told you D. “People want the benefit to reach monetary versatility and you can balances, and are trying simple, clear options and you will information to enable them to in the act.”

Financial away from The united states members increases its financial physical fitness from the starting a benefit punishment, trying to make their borrowing from the bank, and you can improving their cost management event in part by this band of helpful choices. Lead from business’s prize-winning electronic streams and you may experienced financial specialists, so it set of secure banking selection facilitate fulfill clients’ informal banking, discounts and you may financing need, and you may is sold with:

  • 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 information and eligibility criteria. Borrowers must have been a Bank of America checking account client for at least one year. Balance Assist is scheduled online payday loans Arkansas to launch in select states by and in remaining states early next year.
  • SafeBalance™ – Now, more dos mil readers make use of this membership, that’s designed to assist them to invest only the currency they offer. Having SafeBalance, there aren’t any overdraft charge additionally the monthly restoration fee are waived to possess eligible youngsters within the age of twenty-four otherwise clients enrolled in the Prominent Benefits system. Members renders money having a beneficial debit cards otherwise digitally when signed up for Zelle ® , mobile otherwise online banking.
  • Hold the Changes ® – Delivered when you look at the 2005, Secure the Transform is the first program of the form to assist subscribers make offers of the instantly deposit spare move from rounded upwards debit credit transactions towards the a family savings. Today, more 6 mil readers use Keep the Changes. During the last 15 years, this method has aided website subscribers head over $fifteen mil excessively switch to discounts accounts.
  • Protected Card – This easy and you will convenient charge card will help customers present, bolster otherwise reconstruct its borrowing from the bank. Clients can apply to possess an account with a safety put out-of $300. Which have in charge credit choices, readers is also improve their credit score and, through the years, could possibly get be considered having the defense deposit 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.

Such choice and you will properties appear through the prize-profitable Lender away from America Mobile Financial app and generally are supported by Erica, our very own digital secretary

“We still produce some innovative ways to assist our very own readers reach solid financial ground,” said April Schneider, lead out-of Consumer and Small company Affairs at Bank off America. “Possibilities such as Equilibrium Let, SafeBalance and Covered Cards assist bring customers with monetary balances, and certainly will use them a path to extended-identity monetary health.”

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

Bank of The usa is among the planet’s top financial institutions, helping individual people, small and center-markets people and enormous firms having an entire directory of banking, using, resource management or other monetary and you will risk management services and products. The organization brings unmatched comfort in the usa, helping around 66 billion consumer and you may small company subscribers that have up to cuatro,300 retail economic stores, along with approximately 3,100 credit locations, dos,600 monetary centers that have a customers Financing Monetary Selection Coach and around 2,200 organization facilities; just as much as 16,900 ATMs; and you will prize-successful electronic banking which have as much as 39 million productive users, and additionally just as much as 29 billion cellular pages. Lender away from The usa are a global chief into the riches management, corporate and financing financial and you will trading around the a general selection of asset groups, helping firms, governing bodies, associations and folks around the globe. Lender from The united states also provides industry-leading support to help you around step 3 billion small company houses due to good package from creative, easy-to-explore on line products and services. The business serves readers because of functions across the All of us, their areas and up to thirty five countries. Financial off The usa Business inventory (NYSE: BAC) was listed on the Ny Stock exchange.

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

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