Steve Boland, chairman out-of Shopping during the Lender out of The united states

Lender out-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 number of financial options and services designed to help clients bank confidently and improve their financial lives.

Harmony Help is the most recent within the a strong set of transparent, easy-to-have fun with answers to let the readers funds, save, invest and you may use meticulously and you may with full confidence, told you D. Somebody wanted the power to achieve financial independence and you can balances, and so are trying easy, obvious solutions and you may suggestions to assist them to in the act.

Financial from America readers increases its monetary exercise from the installing a cost savings abuse, working to make their credit, and you will boosting the cost management experiences to some extent through this gang of helpful selection. Lead through the organizations honor-profitable electronic streams and you may knowledgeable financial specialists, this set of secure financial choice facilitate see clients’ relaxed financial, offers and you can financing needs, and you will boasts:

• 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 info 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 mil customers utilize this membership, that is built to enable them to invest precisely the currency they have available. Which have SafeBalance, there are not any overdraft charge and monthly repairs payment is waived getting eligible children in chronilogical age of twenty four otherwise clients subscribed to our very own Popular Rewards system. Website subscribers helps make costs with a great debit card otherwise electronically whenever enrolled in Zelle , mobile otherwise online banking.
• Support the Alter Delivered into the 2005, Keep the Change are the initial program of their type to assist members build offers because of the automatically placing spare change from game up debit credit deals into a savings account. Today, over 6 billion members use Hold the Change. Over the past 15 years, this program provides assisted clients head over $15 mil excessively change to offers profile.
• Secure Cards This simple and you may simpler bank card might help customers establish, bolster or reconstruct the borrowing. Members can apply having an account which have a security put from $three hundred. Having in charge credit behavior, clients can improve their credit score and you can, over time, will get be considered to have their safeguards put returned.
• Affordable Home Loans In early 2019, Bank of America launched its $5 billion People 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.

These types of selection and characteristics appear from the honor-successful Financial off The usa Mobile Financial app and therefore are backed by Erica, our electronic assistant

I consistently develop a variety of creative ways to let all of our members get to solid economic footing, said April Schneider, direct off User and you can Home business Circumstances during the Lender of The usa. Possibilities such as for instance Equilibrium Assist, SafeBalance and you may Covered Cards assist promote customers that have financial balance, and certainly will use them a route to offered-identity monetary wellness.

These solutions are built to encourage good financial habits, as are additional resources available through Most readily useful Currency 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 regarding The united states is just one of the earth’s top creditors, helping individual users, smaller than average center-field businesses and large providers which have a full directory of financial, expenses, house government or any other economic and you will exposure government services. The firm provides unmatched comfort in america, serving everything 66 million individual and you will business subscribers that have approximately cuatro,300 retail financial centers, and additionally whenever step 3,100 financing stores, dos,600 economic centers having a customers Money Financial Options Mentor and you may around 2,200 company locations; up to sixteen,900 ATMs; and you will honor-successful electronic financial which have approximately 39 million active users, and additionally as much as 31 mil mobile users. Lender out of America are a global chief from inside the wealth government, corporate and resource financial and you may exchange around the a broad directory of house classes, helping enterprises, governing bodies, institutions and individuals in the world. Lender from The united states has the benefit of industry-leading service so you can whenever 3 million small company houses by way of a beneficial suite off creative, easy-to-have fun with on line products and services. The organization suits readers owing to functions along side All of us, its areas and you can approximately thirty five places. Bank off The united states Corporation inventory (NYSE: BAC) is on the Nyc Stock market.

For more Bank of America news, including dividend announcements and other important information, visit the Bank regarding The usa newsroom and register for development email notice.