Lender out of The united states 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 options and services designed to help clients bank confidently and improve their financial lives.
“Equilibrium Assist ’s the newest inside the an effective group of transparent, easy-to-fool around with approaches to assist our readers budget, help save, spend and you can acquire meticulously and with full confidence,” told you D. “Some one want the benefit to attain economic versatility and you will balance, and so are looking to easy, obvious options and you will advice to assist them to in the process.”
Lender off The united states readers can increase the economic exercise of the establishing a savings discipline, attempting to make its credit, and you will boosting the budgeting experiences to some extent by this selection of beneficial alternatives. Introduced from company’s honor-successful digital avenues and you will educated financial specialists, this set of safer financial solutions facilitate see clients’ everyday banking, deals and you will financing need, and you can 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 even more tool 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™ – Today, more than dos mil members make use of this account, that is built to assist them to spend precisely the money they have available. Having SafeBalance, there aren’t any overdraft fees together with monthly restoration commission is actually waived having qualified pupils underneath the period of twenty-four otherwise members subscribed to our very own Prominent Rewards program. Website subscribers can make costs that have a beneficial debit card otherwise digitally whenever subscribed to Zelle ® , mobile otherwise on the internet banking.
- Secure the Alter ® – Lead inside the 2005, Contain the Transform is actually the first system of the form so you can assist website subscribers build coupons of the automatically placing spare move from round up debit credit transactions into the a bank account. Now, more 6 million clients play with Keep the Change. During the last fifteen years, this choice possess helped customers lead over $15 mil excessively change to savings levels.
- Covered Credit – This simple and you may simpler credit card will help members expose, reinforce otherwise rebuild the borrowing from the bank. Members can put on to own an account with a protection deposit from $three hundred. Which have responsible borrowing from the bank behavior, members is boost their credit rating and you may, through the years, could possibly get qualify for the cover put came back.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society Homeownership Partnership, 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 write different imaginative ways to let our members go solid financial ground,” said April Schneider, head regarding Individual and you may Business Items at the Bank regarding The usa. “Choice like Balance Let, SafeBalance and Secured Card let promote clients which have monetary stability, and will wear them a path to lengthened-title economic wellness.”
For much more Lender of The united states reports, and dividend announcements or any other information, go to 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 Top Money 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 out of The united states is just one of the planet’s best financial institutions, serving personal consumers, small and center-business people and large enterprises having a full variety of banking, paying, resource government or any other financial and you may exposure administration products. The business will bring unrivaled benefits in the us, serving as much as 66 mil consumer and you may small business subscribers with up to cuatro,three hundred shopping monetary centers, also around step three,100 lending stores, dos,600 economic centers which have a customers Capital Monetary Possibilities Mentor and as much as dos,2 hundred business locations; up to 16,900 ATMs; and you will prize-effective electronic banking having as much as 39 mil active users, and additionally just as much as 30 million cellular pages. Financial away from America try an international chief into the wide range administration, business and money banking and you can trading across an over-all range of asset kinds, providing corporations, governments, institutions and individuals around the world. Bank from America offers globe-best service to just as much as step three billion business houses compliment of a beneficial package away from imaginative, easy-to-play with on the internet products. The company provides members due to functions along side You, its territories and approximately thirty-five places. Bank of The usa Agency stock (NYSE: BAC) is actually on the Nyc Stock market.