Financial 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 band of monetary choice and services designed to help clients bank confidently and improve their financial lives.

Balance Let is the newest into the a strong selection of transparent, easy-to-have fun with methods to let all of our readers budget, save your self, spend and you can borrow carefully and you will confidently, told you D. Anybody require the benefit to get to financial independence and stability, consequently they are seeking effortless, obvious possibilities and suggestions to assist them to along the way.

Bank regarding America customers increases its economic physical fitness by the setting-up an economy discipline, attempting to make their borrowing, and you will improving its budgeting event in part from this set of of use choice. Put through the businesses prize-successful digital avenues and you may experienced financial specialists, so it selection of safer banking solutions assists see clients’ informal financial, coupons and financing demands, 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 extra equipment 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 Now, over dos mil clients use this membership, that’s designed to assist them to purchase only the money it offer. Having SafeBalance, there are not any overdraft costs while the month-to-month restoration percentage is actually waived getting qualified youngsters according to the period of twenty four or customers subscribed to our very own Prominent Perks program. Members helps make money with an excellent debit cards or electronically whenever subscribed to Zelle , cellular otherwise online financial.
• Support the Transform Brought for the 2005, Contain the Changes was the initial system of the form to help you let members make offers by the automatically placing spare change from game up debit credit transactions to the a checking account. Today, over 6 mil subscribers fool around with Support the Transform. During the last 15 years, this method enjoys assisted subscribers direct more $15 billion excessively change to coupons levels.
• Protected Card This easy and smoother mastercard might help customers introduce, reinforce or rebuild the borrowing. Clients can put on to have an account which have a protection put from $3 hundred. With in charge credit conclusion, subscribers can improve their credit rating and you will, over time, may qualify for its security put came back.
• Affordable Home Loans In early 2019, Bank of America launched its $5 billion Society 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.

I continue to produce many different creative approaches to help all of our customers get to good financial footing, said April Schneider, head out-of User and you can Business Products within Financial regarding America. Alternatives eg Balance Assist, SafeBalance and you will Covered Card let bring members that have economic stability, and can wear them an approach to offered-title monetary fitness.

These solutions are built to encourage good financial habits, as are additional resources available through Most readily useful Currency Models , our free financial education platform that payday loans South Carolina 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 regarding The united states is one of the earth’s top loan providers, offering personal consumers, small and center-industry people and enormous companies with a complete variety of banking, spending, investment government or any other monetary and chance government services. The company provides unrivaled comfort in the usa, helping approximately 66 million individual and you may small company customers with whenever cuatro,three hundred shopping financial locations, and everything step 3,100 financing centers, dos,600 monetary centers having a customer Financial support Monetary Solutions Advisor and you can just as much as dos,200 team stores; as much as 16,900 ATMs; and honor-successful electronic financial having just as much as 39 billion effective users, in addition to just as much as 30 mil mobile users. Bank out-of The united states are a global commander in money government, business and resource financial and you will change across the a general variety of advantage classes, helping firms, governing bodies, institutions and folks international. Lender from The united states also offers industry-top service so you’re able to just as much as 3 million business home as a result of a great collection out of innovative, easy-to-play with on the internet services. The organization suits subscribers as a consequence of functions across the You, its regions and you can just as much as thirty five nations. Bank away from The usa Agency stock (NYSE: BAC) try on the Nyc Stock-exchange.

These types of choices and qualities come through the honor-successful Bank out of America Cellular Financial software and are also supported by Erica, the electronic secretary

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