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Bank away from The usa 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 group of financial options and services designed to help clients bank confidently and improve their financial lives.

“Harmony Help is the most recent in the a powerful number of transparent, easy-to-play with remedies for let our readers finances, save, spend and you can borrow cautiously and you may with confidence,” told you D. “People need the advantage to achieve financial liberty and stability, and are generally trying easy, clear choice and you will guidance to assist them in the act.”

Financial away from The united states customers increases its monetary exercise of the starting a cost savings punishment, working to make their borrowing from the bank, and boosting their cost management enjoy to some extent through this set of of use possibilities. Put from organization’s prize-effective digital channels and you will experienced financial specialists, so it selection of safer financial solutions facilitate satisfy clients’ everyday banking, deals and you will financing need, and you can 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 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 2 billion readers use this membership, that’s designed to enable them to spend only the money they offer. That have SafeBalance, there aren’t any overdraft fees in addition to month-to-month repair payment try waived to possess qualified people under the period of twenty four otherwise customers enrolled in all of our Preferred Perks program. Readers can make payments with good debit cards otherwise digitally whenever subscribed to Zelle ® , cellular otherwise on line financial.
• Secure the Changes ® – Put inside the 2005, Keep the Alter is actually the original program of its form in order to help customers create savings from the immediately placing free go from round right up debit cards deals with the a bank account. Today, more 6 million customers explore Contain the Change. In the last 15 years, this option keeps assisted clients head more than $15 million excessively switch to deals profile.
• Covered Credit – This easy and easier bank card will help subscribers present, strengthen or rebuild their credit. Members can apply having an account having a security put off $300. That have in control borrowing conclusion, clients online payday loans North Dakota can improve their credit score and you can, over the years, can get be considered to own their safeguards put came back.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area Homeownership Connection, 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.

“We consistently build numerous innovative answers to assist our very own clients go good monetary ground,” told you April Schneider, head of Individual and Home business Circumstances from the Lender off America. “Selection like Equilibrium Assist, SafeBalance and you may Protected Cards help bring clients that have economic stability, and can wear them a path to prolonged-title economic fitness.”

These solutions and services are available through the award-winning Bank of America Mobile Banking app and are supported by Erica, our digital assistant. These solutions are built to encourage good financial habits, as are additional resources available through Top Currency Models ® , 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

Financial from America is just one of the earth’s leading creditors, providing personal users, smaller than average center-market enterprises and enormous businesses which have the full set of banking, investing, asset government and other financial and you may risk government products. The firm provides unmatched convenience in the united states, providing around 66 mil user and you may business subscribers with as much as cuatro,3 hundred shopping monetary locations, in addition to just as much as step 3,one hundred thousand lending centers, dos,600 economic facilities having a customers Financing Economic Options Mentor and you can around dos,two hundred organization locations; just as much as 16,900 ATMs; and you may prize-successful electronic banking with as much as 39 billion active users, including just as much as 30 mil cellular users. Bank of America is actually an international frontrunner inside riches government, corporate and you can resource banking and you may trade across the a general a number of house classes, serving businesses, governments, organizations and folks in the world. Financial from The united states also offers industry-best help so you’re able to up to step three mil small company properties through a beneficial package out of creative, easy-to-fool around with online products and services. The organization serves customers as a consequence of surgery along the Us, their regions and you will up to 35 nations. Bank from America Enterprise stock (NYSE: BAC) are listed on the New york Stock exchange.