Steve Boland, chairman from Retail on Lender from The united states

Steve Boland, chairman from Retail on Lender from The united states

Bank out-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.

“Harmony Assist ‘s the most recent from inside the an effective group of transparent, easy-to-explore solutions to help our very own clients budget, rescue, spend and you will borrow meticulously and you may with certainty,” said D. “People require the advantage to reach financial liberty and you will balance, and are generally seeking effortless, obvious possibilities and you will advice to assist them to in the process.”

Lender out of America website subscribers can increase its financial fitness because of the setting-up a cost savings abuse, attempting to make their borrowing, and you may improving the cost management skills simply from this selection of beneficial alternatives. Introduced from organization’s prize-winning digital avenues and educated financial specialists, that it gang of secure banking alternatives helps see clients’ informal financial, offers and you may financing demands, and includes:

  • 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 additional equipment 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, over 2 mil members make use of this account, that’s designed to assist them to invest only the money they supply. That have SafeBalance, there are no overdraft charge additionally the monthly fix percentage try waived having qualified students according to the ages of 24 otherwise readers subscribed to our Well-known Benefits program. Readers makes money having an excellent debit cards otherwise digitally whenever enrolled in Zelle ® , cellular otherwise on the web banking.
  • Secure the Changes ® – Produced into the 2005, Hold the Changes try the original system of its kind so you can let customers create discounts of the automatically transferring spare go from game upwards debit credit transactions towards the a family savings. Today, over 6 million customers have fun with Keep the Change. During the last 15 years, this method have assisted subscribers direct over $15 million in excess switch to offers levels.
  • Secure Credit – This easy and easier credit card can help clients establish, strengthen or rebuild the borrowing from the bank. Website subscribers can apply for a free account that have a security deposit from $300. With in control borrowing conclusion, website subscribers is enhance their credit history and you will, through the years, get be considered for their defense deposit came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion People 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.

These choice and you will services come from award-successful Bank of The united states Mobile Banking app and they are backed by Erica, all of our electronic assistant

“We still create various innovative methods to help our clients get to strong economic footing,” said April Schneider, lead regarding Individual and you can Home business Issues on Financial cash advance and payday loans South Carolina from The united states. “Alternatives eg Harmony Help, SafeBalance and you may Protected Card assist offer subscribers which have monetary stability, and will use them an approach to extended-label economic wellness.”

These solutions are built to encourage good financial habits, as are additional resources available through Greatest Money 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 away from The usa is amongst the world’s leading creditors, offering personal users, small and middle-sector companies and enormous organizations with a complete listing of banking, investing, advantage administration or any other economic and you may exposure government products and services. The company brings unmatched convenience in the us, providing as much as 66 billion consumer and you can small company readers with up to 4,3 hundred retail monetary facilities, in addition to up to step 3,one hundred thousand lending locations, 2,600 monetary centers having a buyers Money Monetary Solutions Mentor and you can approximately dos,200 providers stores; everything 16,900 ATMs; and award-profitable digital banking with up to 39 billion energetic users, plus just as much as 29 million cellular users. Bank off America are a major international commander for the money government, corporate and you can financial support banking and trading around the a standard range of asset categories, providing providers, governing bodies, institutions and folks around the world. Bank of America also provides world-top help to whenever 3 mil home business home because of a package of creative, easy-to-fool around with on the web products and services. The organization provides customers using businesses along side You, their areas and you can approximately thirty five places. Lender out of The united states Company inventory (NYSE: BAC) was on the Nyc Stock-exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank from The usa newsroom and create development current email address notification.