Financial of 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 financial selection and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Let is the newest for the a robust selection of transparent, easy-to-have fun with approaches to assist the customers budget, rescue, invest and you can borrow very carefully and you can with certainty,” said D. “Someone want the benefit to attain monetary versatility and you will balances, and are generally seeking simple, obvious choice and you can pointers to assist them to in the process.”

Lender out-of The usa website subscribers increases its economic exercise from the creating a discount abuse, working to create its borrowing, and boosting its cost management experience in part through this band of helpful choices. Put from organization’s award-successful digital avenues and you can experienced financial experts, so it band of safe banking solutions facilitate satisfy clients’ casual financial, offers and you will financing demands, and you may comes with:

These alternatives and properties arrive from the honor-effective Lender out of The united states Mobile Banking application and are generally supported by Erica, our digital secretary

• 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 extra 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 to launch in select states by and in remaining states early next year.
• SafeBalance™ – Today, more dos mil readers utilize this account, which is made to help them invest only the money they supply. That have SafeBalance, there are no overdraft fees in addition to monthly restoration fee is waived to possess eligible people underneath the age of twenty four or clients signed up for our very own Prominent Rewards program. Clients renders payments having an effective debit credit otherwise electronically whenever signed up for Zelle ® , cellular otherwise on the internet financial.
• Hold the Change ® – Lead within the 2005, Secure the Transform was the first program of its kind in order to assist customers generate deals because of the immediately depositing spare change from rounded right up debit credit transactions to the a checking account. Today, more than six mil clients fool around with Contain the Change. Within the last 15 years, this choice features helped website subscribers head over $fifteen billion in excess switch to discounts membership.
• Secured Card – This simple and smoother charge card will help members expose, bolster otherwise rebuild its credit. Readers can use getting a merchant account that have a security deposit regarding $300. With responsible borrowing decisions, customers normally enhance their credit history and, over the years, can get be considered having the safeguards put returned.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area 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.

“I consistently build a variety of innovative solutions to help the clients get to solid financial footing,” said April Schneider, head of Individual and you will Business Things from the Lender regarding America. “Choice such Balance Help, SafeBalance and Secure Cards help bring website subscribers which have monetary balances, and certainly will use them an approach to extended-label monetary wellness.”

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

Financial from The usa is just one of the planet’s leading financial institutions, providing personal customers, smaller than average middle-field companies and large corporations which have a complete list of banking, using, advantage government or any other monetary and risk government services. The business brings unmatched convenience in the usa, providing whenever 66 billion user and business members having around 4,3 hundred shopping monetary stores, and additionally whenever step three,one hundred thousand financing locations, dos,600 financial facilities with a consumer Resource Economic Solutions Coach and you may approximately 2,200 business facilities; around sixteen,900 ATMs; and prize-winning digital financial which have as much as 39 billion active profiles, plus whenever 30 mil mobile users. Lender from America try an international leader in the wide range management, business and you may funding banking and you can trade across the a broad a number of investment classes, providing enterprises, governing bodies, associations payday loans in Brighton TN and individuals around the globe. Financial regarding America even offers world-leading assistance to as much as 3 billion small company domiciles compliment of a room of innovative, easy-to-fool around with on line products and services. The company suits customers as a consequence of operations along the United states, their regions and you may whenever thirty five nations. Lender from The usa Enterprise inventory (NYSE: BAC) is on the Nyc Stock exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Lender off America newsroom and create development email address alerts.