Steve Boland, chairman regarding Shopping in the Bank from America

Bank out of The usa today payday loans online Athens TN 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 gang of economic choices and services designed to help clients bank confidently and improve their financial lives.

“Balance Help is the current during the a strong group of transparent, easy-to-fool around with approaches to help the website subscribers finances, save, spend and you can use carefully and you will confidently,” told you D. “People want the advantage to attain financial liberty and you will stability, and they are trying easy, clear solutions and information to enable them to in the act.”

Bank away from The united states subscribers can increase their monetary fitness of the setting-up a discount discipline, attempting to make its borrowing from the bank, and you will boosting the cost management skills in part from this group of useful alternatives. Delivered from the business’s prize-successful digital streams and you may knowledgeable fiscal experts, this group of secure financial alternatives facilitate satisfy clients’ informal financial, offers and you will financing requires, and you may comes with:

These choice and you will properties come from prize-successful Lender from America Mobile Banking software and are generally supported by Erica, the 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 more equipment details 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 readers make use of this account, which is built to assist them to purchase just the money it supply. With SafeBalance, there are no overdraft charge plus the monthly restoration percentage try waived to have eligible youngsters under the age twenty four or website subscribers subscribed to our very own Common Advantages system. Readers tends to make payments that have a debit credit or digitally whenever enrolled in Zelle ® , mobile or on line financial.
  • Hold the Change ® – Produced inside 2005, Support the Alter try the original program of the form so you’re able to let readers create offers by instantly deposit free move from rounded right up debit card purchases to the a savings account. Today, more than 6 mil website subscribers explore Contain the Change. Within the last fifteen years, this method keeps assisted website subscribers head more $fifteen mil in excess change to savings levels.
  • Protected Card – This simple and simpler mastercard will help clients present, bolster or rebuild the credit. Members can put on for an account which have a safety put of $three hundred. Having responsible borrowing from the bank choices, website subscribers is improve their credit history and you can, over time, get meet the requirements to have their protection deposit came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area 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.

“I consistently produce many innovative approaches to assist all of our clients achieve good monetary footing,” said April Schneider, direct regarding Individual and you may Business Products in the Bank off The usa. “Solutions for example Harmony Help, SafeBalance and you will Secure Credit let give customers that have economic stability, and can put them on a path to lengthened-label monetary fitness.”

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

Financial from America is one of the planet’s top creditors, providing individual users, small and center-sector organizations and large businesses which have a complete variety of financial, purchasing, advantage management or other economic and exposure administration products. The business provides unrivaled benefits in the us, helping whenever 66 billion user and you can home business subscribers with approximately cuatro,300 shopping financial centers, and additionally up to step three,100 credit stores, dos,600 financial stores which have a customers Capital Financial Solutions Coach and up to dos,2 hundred team centers; just as much as sixteen,900 ATMs; and you can award-winning electronic banking having as much as 39 mil productive pages, including just as much as 29 million mobile pages. Bank of The usa is actually an international commander for the riches management, business and you may financing banking and you can change all over an over-all directory of resource groups, serving enterprises, governments, establishments and folks globally. Bank regarding The united states offers community-leading service to help you just as much as step 3 million business house owing to good collection away from innovative, easy-to-have fun with on line services. The business provides readers due to operations over the Us, their areas and you may whenever 35 places. Lender regarding America Business stock (NYSE: BAC) are listed on the Ny Stock market.

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