Steve Boland, chairman away from Merchandising from the Bank out of America

Financial from 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 gang of financial solutions and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Assist is the most recent in the a strong set of clear, easy-to-play with ways to help our members finances, save your self, purchase and you can obtain meticulously and you may with full confidence,” told you D. “Anyone want the power to reach economic versatility and balance, and are usually seeking to simple, obvious options and you can suggestions to assist them along the way.”

Lender out-of The usa customers can increase their financial exercise of the setting up an economy punishment, attempting to build their borrowing from the bank, and you will improving their cost management event to some extent from this selection of of good use alternatives. Put from organization’s award-winning digital channels and you can knowledgeable financial specialists, so it selection of safe financial possibilities assists fulfill clients’ relaxed financial, deals and you can financing need, and you may 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 most 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 dos million clients make use of this account, that is designed to assist them to invest precisely the money they offer. Having SafeBalance, there aren’t any overdraft costs together with month-to-month fix percentage is actually waived having eligible youngsters underneath the period of twenty-four otherwise subscribers enrolled in the Common Benefits program.
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  Members can make money with a great debit credit or digitally whenever enrolled in Zelle ® , mobile otherwise on line banking.
• Contain the Transform ® – Put during the 2005, Keep the Change is actually the first program of the form to let members generate discounts from the instantly depositing spare change from circular up debit card transactions into the a checking account. Today, over six billion clients explore Secure the Changes. During the last fifteen years, this program features assisted members head over $fifteen billion in excess change to coupons levels http://www.titleloansusa.info/payday-loans-mt.
• Secure Card – This easy and you may convenient bank card can help customers expose, reinforce otherwise reconstruct the borrowing from the bank. Members can apply to own a merchant account that have a safety deposit of $300. Which have responsible borrowing from the bank decisions, website subscribers can also be boost their credit history and you will, over time, get be considered for its protection put returned.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood 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.

For more Financial regarding America reports, including dividend notices and other information, look at the

“I continue steadily to build several imaginative remedies for help the subscribers reach solid monetary footing,” said April Schneider, lead regarding Individual and you can Small company Circumstances in the Financial out-of The united states. “Solutions particularly Balance Help, SafeBalance and you will Covered Credit let bring readers which have monetary balance, and can put them on a route to stretched-label monetary health.”

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

Financial of America is one of the planet’s top financial institutions, offering private customers, small and middle-sector businesses and enormous firms that have a full set of banking, paying, advantage administration or any other economic and you will chance administration products. The firm provides unmatched benefits in the us, providing everything 66 billion consumer and you will small company members that have approximately 4,3 hundred retail monetary locations, also just as much as step three,100000 credit stores, dos,600 economic centers which have a customers Funding Monetary Alternatives Advisor and you may up to 2,two hundred company centers; as much as 16,900 ATMs; and you may prize-effective electronic financial that have everything 39 billion productive profiles, together with just as much as 30 million mobile pages. Financial from The united states try a worldwide frontrunner when you look at the riches government, business and you will financial support financial and you can exchange all over a standard selection of investment categories, helping enterprises, governing bodies, institutions and folks in the world. Financial off The united states offers globe-leading help to help you whenever step 3 billion small company house compliment of good collection out of creative, easy-to-use on line products. The business caters to readers through surgery across the United states, their regions and you will up to thirty-five places. Bank away from America Firm stock (NYSE: BAC) try on the New york Stock exchange.