Lender regarding 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 band of economic choice and services designed to help clients bank confidently and improve their financial lives.

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“Harmony Help ‘s the current inside the an effective gang of clear, easy-to-play with answers to assist the readers funds, conserve, invest and you may acquire carefully and you can with confidence,” said D. “Some body require the benefit to attain economic versatility and stability, and tend to be trying to easy, obvious solutions and you will recommendations to enable them to along the way.”

Bank off The united states members can increase its monetary exercise by the installing a benefit discipline, attempting to build their borrowing, and you can improving the cost management enjoy in part through this set of beneficial solutions. Put from the organizations honor-winning digital channels and you will knowledgeable financial specialists, so it gang of secure banking solutions support meet clients’ informal financial, coupons and financing means, and you may has:

• 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 https://titleloansusa.info/payday-loans-in/ be made in three equal monthly installments over a 90-day period. To learn more, review these additional product information 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 2 billion readers utilize this membership, that is built to help them spend just the currency it offer. That have SafeBalance, there are not any overdraft costs therefore the month-to-month repair percentage was waived for eligible people in chronilogical age of 24 or customers subscribed to all of our Common Benefits system. Clients makes costs with a beneficial debit card or electronically whenever subscribed to Zelle ® , cellular or online financial.
• Keep the Change ® – Produced inside the 2005, Hold the Change was the initial system of its form so you’re able to let readers build deals by instantly depositing spare change from rounded upwards debit card purchases towards the a checking account. Today, more than six billion customers have fun with Hold the Change. In the last fifteen years, this method provides helped customers lead more $fifteen billion excessively switch to discounts accounts.
• Covered Credit – This simple and you will much easier credit card will help clients establish, strengthen or reconstruct the borrowing. Customers can use to own a merchant account with a safety deposit from $300. Which have responsible borrowing from the bank choices, website subscribers can enhance their credit rating and you may, through the years, get meet the requirements to have its protection put returned.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society Homeownership Union, 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 consistently establish numerous imaginative solutions to assist our subscribers achieve good monetary ground,” said April Schneider, lead out-of Consumer and Small company Factors on Bank out-of The united states. “Possibilities including Balance Help, SafeBalance and you will Shielded Card assist provide readers having monetary stability, and will use them a route to lengthened-identity economic wellness.”

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 Most readily useful Money Habits ® , 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 regarding The usa is among the earth’s best financial institutions, providing personal people, small and middle-industry companies and large agencies with a complete a number of banking, spending, investment management or any other economic and you will chance administration products and services. The firm brings unrivaled benefits in america, serving just as much as 66 million user and you will business subscribers having whenever 4,three hundred shopping financial centers, and whenever 3,one hundred thousand credit stores, 2,600 monetary facilities having a buyers Financing Monetary Alternatives Mentor and you can as much as 2,200 organization centers; everything 16,900 ATMs; and you may prize-winning electronic financial that have everything 39 billion energetic pages, and around 31 million cellular users. Lender from America is an international chief inside the wealth administration, business and you will resource financial and you will exchange across a standard directory of advantage groups, serving businesses, governing bodies, establishments and people all over the world. Bank out of The usa now offers community-top support in order to as much as step three billion home business house due to a great room away from creative, easy-to-explore on line services. The company provides customers owing to functions along side All of us, their areas and you may just as much as thirty five places. Bank out of America Enterprise stock (NYSE: BAC) is actually on the New york Stock exchange.