Financial from 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 selection of economic alternatives and services designed to help clients bank confidently and improve their financial lives.

“Balance Help is the latest inside a strong group of clear, easy-to-use ways to help the subscribers finances, save yourself, invest and you may borrow carefully and you can with certainty,” said D. “People need the benefit to achieve monetary liberty and you may balances, and therefore are seeking to simple, clear choices and you can pointers to enable them to in the process.”

Bank regarding The usa readers can increase its financial physical fitness by setting up a cost savings abuse, trying to generate their credit, and you can boosting their budgeting experience partly from this number of of good use choices. Lead from the company’s award-effective digital avenues and you can knowledgeable financial specialists, which set of safe financial choice support see clients’ everyday financial, offers and you may credit need, and you will comes with:

Such possibilities and you may features appear from the prize-effective Financial of The usa Mobile Financial application and are also 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 even more product 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 subscribers make use of this membership, that is built to help them purchase precisely the currency they have available. That have SafeBalance, there are not any overdraft fees and also the monthly fix fee are waived to own eligible youngsters https://paydayloanstennessee.com/cities/sevierville/ within the ages of 24 otherwise website subscribers subscribed to our Preferred Benefits system. Readers helps make money that have an excellent debit cards or electronically whenever enrolled in Zelle ® , mobile or on the web banking.
• Support the Changes ® – Produced during the 2005, Contain the Alter are the initial system of its type to help you help customers make deals by immediately deposit free go from game right up debit credit transactions towards the a family savings. Today, more 6 mil subscribers fool around with Contain the Change. Over the past fifteen years, this choice have helped readers lead more than $15 billion excessively switch to deals membership.
• Safeguarded Card – This simple and you can much easier mastercard might help website subscribers establish, reinforce or reconstruct its borrowing from the bank. Subscribers can use having an account having a safety deposit from $three hundred. Which have in control borrowing from the bank decisions, clients can enhance their credit rating and you may, throughout the years, get meet the requirements to possess its protection put returned.
• 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.

“I still make various innovative ways to assist our very own readers get to good economic ground,” told you April Schneider, direct from Individual and Small company Issues in the Bank out-of The united states. “Solutions for example Harmony Assist, SafeBalance and you can Shielded Cards help promote members that have monetary balance, and certainly will wear them an approach to prolonged-title monetary fitness.”

These solutions are built to encourage good financial habits, as are additional resources available through Better Currency 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 away from The usa is among the earth’s leading loan providers, providing personal consumers, smaller than average center-market companies and enormous agencies that have a full listing of financial, paying, asset administration or other monetary and exposure government products and services. The company will bring unmatched convenience in the united states, offering up to 66 mil consumer and you may business readers which have everything cuatro,300 shopping economic facilities, together with up to 3,000 credit stores, 2,600 financial centers that have a customer Financial support Monetary Possibilities Mentor and up to dos,200 organization stores; just as much as sixteen,900 ATMs; and you may prize-winning electronic banking which have as much as 39 billion active profiles, together with just as much as 30 billion cellular users. Financial from The united states is a major international leader into the riches administration, business and financial support banking and you will exchange across a standard directory of asset categories, serving corporations, governing bodies, institutions and people all over the world. Bank regarding The united states has the benefit of community-best assistance to help you just as much as step 3 million business domiciles using good collection off creative, easy-to-fool around with online services. The organization serves readers owing to procedures along the United states, their territories and you will around thirty five countries. Financial out-of The usa Company stock (NYSE: BAC) is actually listed on the Nyc Stock-exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Financial off The united states newsroom and sign up for reports current email address alerts.