Steve Boland, president out-of Retail within Bank out-of The united states

Bank 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 gang of economic choice and services designed to help clients bank confidently and improve their financial lives.

Equilibrium Let ‘s the most recent within the a robust gang of transparent, easy-to-use ways to help all of our members finances, save yourself, invest and you may obtain cautiously and you can with certainty, told you D. Some one require the benefit to reach financial versatility and stability, and are trying to simple, obvious alternatives and you may recommendations to assist them in the process.

Lender from The united states customers increases its financial exercise of the setting-up a savings punishment, attempting to create their borrowing from the bank, and you will improving the budgeting event to some extent through this group of helpful possibilities. Produced from the business’s prize-successful digital streams and knowledgeable fiscal experts, so it gang of safe banking choices assists satisfy clients’ relaxed financial, discounts and you will financing requires, and you can comes 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 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 Now, more dos million subscribers use this membership, which is designed to help them purchase precisely the currency they supply. With SafeBalance, there are no overdraft charges in addition to monthly repair percentage try waived getting eligible youngsters under the age of twenty four otherwise clients subscribed to the Well-known Advantages system. Customers can make repayments that have a beneficial debit cards or electronically when signed up for Zelle , mobile or on the internet banking.
  • Secure the Alter Produced for the 2005, Support the Transform is actually the initial system of its form to assist readers generate discounts from the immediately depositing free go from game up debit credit purchases into a bank account. Now, more 6 mil readers fool around with Keep the Transform. Over the past 15 years, this choice has actually helped subscribers lead over $fifteen mil excessively change to discounts profile.
  • Covered Cards This easy and you can easier credit card can help customers expose, reinforce otherwise rebuild the credit. Website subscribers can apply to possess a free account with a security deposit from $3 hundred. With in control credit decisions, readers can also be boost their credit score and, throughout the years, may qualify to own its coverage deposit came back.
  • Affordable Home Loans In early 2019, Bank of America launched its $5 billion Society Homeownership Commitment, 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 always create some creative methods to help the clients go solid economic footing, said April Schneider, direct regarding Individual and you may Small business Issues on Bank away from The usa. Possibilities such as Equilibrium Help, SafeBalance and you can Shielded Card let give clients that have financial stability, and will wear them a path to lengthened-name financial fitness.

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

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Lender out-of The united states is just one of the earth’s best creditors, providing private users, small and center-industry companies and large businesses having the full set of banking, paying, advantage management or other monetary and you will exposure government services. The firm brings unrivaled benefits in the united states, serving around 66 billion individual and you will business customers having up to cuatro,300 merchandising financial centers, in addition to approximately step 3,one hundred thousand lending facilities, dos,600 monetary facilities which have a consumer Money Monetary Selection Advisor and just as much as dos,2 hundred providers centers; approximately sixteen,900 ATMs; and you can award-winning electronic financial which have just as much as 39 billion energetic profiles, plus around 29 mil mobile users. Bank regarding The usa is an international frontrunner from inside the money management, business and you can money banking and you may change all over a standard selection of asset kinds, helping agencies, governing bodies, organizations and other people internationally. Financial of The usa now offers community-top support so you’re able to everything step 3 million small company property as a consequence of an excellent suite away from innovative, easy-to-play with on line products and services. The organization serves clients using functions over the All of us, its areas and you can approximately thirty five countries. Bank away from The united states Enterprise stock (NYSE: BAC) was listed on the New york Stock-exchange.

Such selection and you will functions appear through the award-successful Financial away from America Mobile Banking application and are generally backed by Erica, our very own digital assistant

For more Bank of America news, including dividend announcements and other important information, visit the Lender out of The usa newsroom and sign up for information email address notification.