Steve Boland, president away from Merchandising on Lender from The united states

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

Balance Assist is the latest inside an effective set of clear, easy-to-use approaches to let our clients funds, save yourself, spend and borrow cautiously and you can with confidence, said D. Somebody wanted the power to achieve financial liberty and you will balance, consequently they are looking to effortless, clear choices and you will guidance to help them along the way.

Lender off America clients increases their monetary exercise of the setting-up a savings punishment, attempting to make its borrowing, and you can improving its budgeting skills simply from this set of of use selection. Lead through the businesses award-profitable digital avenues and you may knowledgeable financial specialists, it group of secure banking selection assists meet clients’ informal banking, discounts try this site and credit demands, and you can 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 most device facts 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 dos mil website subscribers utilize this account, that is made to enable them to spend precisely the currency it offer. Having SafeBalance, there are not any overdraft fees additionally the month-to-month maintenance fee is actually waived getting qualified pupils according to the age of twenty-four or members subscribed to our Popular Perks program. Customers produces payments having an excellent debit cards otherwise digitally when subscribed to Zelle , mobile otherwise on the web financial.
• Support the Changes Introduced inside the 2005, Contain the Alter was the original program of their type in order to assist customers make deals by automatically depositing spare change from round up debit card purchases to the a bank account. Today, more six billion website subscribers explore Hold the Changes. Within the last 15 years, this program keeps aided subscribers lead more $fifteen mil excessively change to offers account.
• Protected Credit This easy and convenient charge card will help readers introduce, bolster or reconstruct its credit. Members can apply getting a free account with a safety put out-of $3 hundred. That have in control borrowing decisions, subscribers can also be improve their credit score and you will, over the years, could possibly get meet the requirements having their protection put came back.
• Affordable Home Loans In early 2019, Bank of America launched its $5 billion Area 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.

This type of choices and you may features are available from honor-profitable Bank regarding The usa Cellular Banking app and are supported by Erica, all of our electronic secretary

I still make some innovative approaches to let our very own customers go strong financial ground, told you April Schneider, lead out of Consumer and you may Small business Factors during the Lender out of The usa. Options such Harmony Help, SafeBalance and you will Secured Credit assist render clients which have economic balances, and will put them on a route to prolonged-identity financial wellness.

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

Lender out of The usa is amongst the world’s best loan providers, offering private users, small and center-sector organizations and large organizations with a full directory of financial, spending, house management or other financial and you may exposure administration products. The company brings unrivaled convenience in america, offering as much as 66 billion user and you will home business subscribers that have just as much as cuatro,3 hundred merchandising financial locations, including around step three,000 credit locations, dos,600 economic facilities with a customer Money Monetary Options Advisor and you may everything dos,200 providers locations; around sixteen,900 ATMs; and you may prize-effective electronic banking which have around 39 billion effective users, as well as around 29 billion cellular profiles. Financial of The usa are a worldwide commander when you look at the wealth government, corporate and money financial and exchange around the an over-all directory of house kinds, helping firms, governments, establishments and people global. Lender out of The united states even offers community-top service so you can everything step three billion home business houses thanks to good collection regarding innovative, easy-to-fool around with on line services. The firm suits website subscribers thanks to businesses over the You, their regions and you will everything 35 places. Bank regarding The united states Company inventory (NYSE: BAC) are on the Ny Stock exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Lender away from The united states newsroom and register for development email address notification.