Bank 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 economic choice and services designed to help clients bank confidently and improve their financial lives.
“Balance Help is the latest for the a powerful group of clear, easy-to-explore solutions to help our readers finances, help save, purchase and you may borrow carefully and you will with confidence,” said D. “People need the power to reach monetary liberty and you may balances, and are also looking to simple, clear choices and you will information to assist them to along the way.”
Financial out-of America members can increase the financial exercise from the establishing a savings punishment, trying to create its borrowing from the bank, and boosting their budgeting enjoy simply from this group of of good use solutions. Brought through the organization’s award-successful digital channels and you may educated financial specialists, that it band of safe banking solutions helps satisfy clients’ casual banking, savings and lending demands, 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 extra product 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, more than 2 mil customers utilize this account, that is designed to enable them to spend precisely the money they supply. Having SafeBalance, there aren’t any overdraft costs payday loans UT in addition to monthly restoration fee is waived to possess qualified students in age of twenty four or readers subscribed to the Common Rewards program. Website subscribers can make payments which have an excellent debit card or digitally whenever enrolled in Zelle ® , cellular or on the web financial.
- Secure the Changes ® – Lead in 2005, Contain the Transform is actually the original system of its type so you’re able to help clients generate savings by the instantly depositing free move from circular up debit cards deals with the a savings account. Now, more six million readers explore Secure the Transform. During the last fifteen years, this program has actually helped clients direct more $fifteen billion excessively change to offers accounts.
- Covered Cards – This simple and smoother bank card will help readers present, bolster otherwise rebuild its credit. Customers can apply to have an account with a protection put regarding $three hundred. With in control borrowing decisions, members can be boost their credit history and, throughout the years, get be considered to have the cover deposit came back.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community 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.
These types of options and you can qualities arrive from the prize-effective Lender of The usa Mobile Financial app and they are supported by Erica, our very own digital assistant
“I continue to generate a number of innovative methods to assist our very own customers reach solid monetary ground,” said April Schneider, direct from User and you will Business Affairs on Financial regarding The united states. “Selection instance Harmony Help, SafeBalance and you will Covered Card help promote members having monetary balance, and certainly will wear them a route to offered-label financial wellness.”
These solutions are built to encourage good financial habits, as are additional resources available through Better 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
Lender out-of The usa is one of the world’s best financial institutions, offering individual consumers, smaller than average center-business companies and large businesses which have an entire a number of banking, paying, house government and other economic and you will risk government products and services. The organization will bring unmatched comfort in the usa, offering around 66 billion individual and you can home business members with approximately 4,three hundred retail monetary locations, plus up to 3,000 lending stores, 2,600 monetary centers that have a customers Financial support Financial Choice Coach and as much as 2,two hundred company stores; as much as 16,900 ATMs; and honor-effective digital financial having up to 39 million productive users, in addition to around 30 million cellular users. Financial off The united states was an international chief inside the riches management, corporate and you will resource financial and you may trading all over a general variety of advantage kinds, providing firms, governing bodies, institutions and folks around the globe. Lender from The united states even offers industry-top service to help you approximately step three billion home business home owing to a collection off imaginative, easy-to-have fun with on the web products. The company provides clients as a result of functions along side You, their regions and up to thirty five nations. Financial out of America Enterprise inventory (NYSE: BAC) try on the New york Stock-exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank from The united states newsroom and create development current email address notice.