Lender 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 gang of monetary solutions and services designed to help clients bank confidently and improve their financial lives.
“Harmony Help is the current inside a robust band of clear, easy-to-play with remedies for help our very own clients budget, help save, purchase and you may acquire carefully and you will confidently,” told you D. “Somebody need the power to get to financial independence and you can balance, and they are looking to easy, obvious selection and you will pointers to assist them to along the way.”
Financial out of The usa members increases their economic fitness by the establishing a discount discipline, attempting to create their borrowing, and you can boosting the cost management enjoy partly by this number of of good use solutions. Brought from organizations award-successful electronic channels and you can educated financial experts, it selection of secure banking alternatives facilitate meet clients’ relaxed banking, offers and you may credit means, and you may 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 a lot more 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™ – Now, over 2 mil customers use this account, that is designed to help them spend precisely the currency it offer. That have SafeBalance, there are not any overdraft fees and monthly maintenance payment try waived for qualified pupils according to the age of twenty four or members enrolled in all of our Popular Perks system. Customers produces repayments which have a beneficial debit credit or electronically when enrolled in Zelle ® , cellular or on the web banking.
- Keep the Changes ® – Put in the 2005, Keep the Change was the first program of the form to help you assist website subscribers build coupons by the instantly deposit spare move from round upwards debit card transactions towards a bank account. Now, more 6 billion readers use Secure the Alter. Within the last fifteen years, this choice has aided customers head more $fifteen million in excess change to discounts account.
- Shielded Cards – This simple and convenient bank card might help members expose, bolster or reconstruct their borrowing. Clients can use to possess a merchant account with a safety deposit out of $300. Which have in charge borrowing from the bank decisions, customers normally boost their credit score and you can, over the years, will get qualify to own its coverage put returned.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood 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.
This type of choice and you may functions come through the award-successful Financial regarding America Cellular Financial application and generally are backed by Erica, all of our digital assistant
“I still create some imaginative methods to help our very own website subscribers achieve strong monetary ground,” said April Schneider, lead away from Individual and you may Small business Circumstances during the Bank out-of The usa. “Options such Harmony Assist, https://paydayloansexpert.com/payday-loans-va/ SafeBalance and you will Secured Credit help bring customers which have monetary stability, and certainly will use them a path to offered-identity financial wellness.”
These solutions are built to encourage good financial habits, as are additional resources available through Best 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
Bank of The usa is one of the planet’s best loan providers, serving personal consumers, smaller than average center-business companies and large organizations which have the full directory of financial, investing, advantage administration or any other financial and you will chance government services. The firm brings unmatched comfort in the united states, helping as much as 66 million consumer and you may home business readers which have as much as 4,3 hundred shopping financial facilities, together with up to 3,one hundred thousand financing locations, 2,600 economic centers with a buyers Funding Monetary Choices Coach and you will as much as 2,2 hundred company centers; around 16,900 ATMs; and you can prize-winning electronic banking having around 39 mil effective users, and up to 29 billion cellular profiles. Lender out of The usa was a major international commander into the riches government, business and you can resource financial and trading around the an over-all listing of house groups, serving firms, governing bodies, institutions and people around the world. Lender of America even offers industry-best help in order to around 3 million small business properties owing to a beneficial collection off innovative, easy-to-explore on the internet products and services. The company suits subscribers courtesy operations over the All of us, its areas and you will whenever thirty-five places. Bank from The united states Business inventory (NYSE: BAC) try on the Nyc Stock market.
For more Bank of America news, including dividend announcements and other important information, visit the Bank out-of The usa newsroom and create information current email address notice.