Financial 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 monetary choices and services designed to help clients bank confidently and improve their financial lives.
“Harmony Let is the current during the a strong set of transparent, easy-to-explore solutions to assist the members finances, save your self, spend and you may use very carefully and you may with confidence,” told you D. “Some body require the advantage to reach financial versatility and stability, as they are looking to easy, obvious options and you may suggestions to help them in the act.”
Bank off The usa clients can increase their financial exercise of the creating an economy abuse, working to build its borrowing, and you may boosting its budgeting knowledge simply from this band of helpful possibilities
Produced through the businesses award-profitable digital channels and you will experienced financial experts, this gang of safer banking possibilities assists satisfy clients’ casual banking, savings and you may lending need, and 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 even more device 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™ – Today, more dos billion members utilize this account, which is made to assist them to spend only the currency they supply. That have SafeBalance, there are no overdraft charge and also the month-to-month repair payment is waived to possess eligible pupils within the chronilogical age of 24 or readers subscribed to our very own Preferred Rewards system. Website subscribers can make money having an excellent debit cards otherwise electronically whenever signed up for Zelle ® , cellular otherwise online financial.
- Secure the Alter ® – Produced within the 2005, Secure the Transform are the first system of the form to help you help subscribers create coupons by the instantly depositing free go from game upwards debit cards purchases with the a savings account. Today, more six mil clients play with Keep the Changes. In the last 15 years, this program has helped members lead more $fifteen billion excessively switch to savings accounts.
- Secured Card – This simple and simpler bank card might help readers introduce, strengthen or reconstruct its borrowing. Customers can put on having a merchant account which have a security put regarding $300. Which have responsible credit decisions, subscribers normally boost their credit score and you can, through the years, will get be considered getting their safeguards put returned.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Partnership, 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 still create various creative solutions to assist all of our website subscribers achieve strong economic ground,” told you April Schneider, head out-of Individual and you may Business Products within Lender regarding America. “Options such as for instance Harmony Assist, SafeBalance and you will Protected Cards help give members having financial balance, and can use them a route to longer-term 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 Greatest Money Activities ® , 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 amongst the world’s leading financial institutions, offering individual consumers, small and middle-market people and enormous businesses having an entire selection of banking, investing, asset management and other economic and you can risk administration products and services. The business brings unmatched comfort in the us, serving up to 66 billion consumer and you will small business clients with around 4,3 hundred retail financial centers, plus as much as step 3,100 financing stores, 2,600 monetary locations that have a consumer Financial support Monetary Alternatives Coach and you can whenever 2,two hundred organization locations; approximately sixteen,900 ATMs; and you may prize-effective electronic financial having approximately 39 mil energetic profiles, as well as around 29 million mobile pages. Lender away from The usa try https://paydayloan4less.com/payday-loans-sc/georgetown/ a global leader for the riches administration, corporate and you can resource banking and trade across the a standard set of advantage kinds, providing enterprises, governing bodies, associations and people international. Lender regarding The united states also offers business-leading service so you’re able to approximately step 3 billion small business properties because of a beneficial collection off imaginative, easy-to-explore on line products. The organization suits readers as a consequence of operations over the Us, its regions and you may around 35 nations. Lender regarding America Agency stock (NYSE: BAC) is on the New york Stock exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Lender regarding America newsroom and register for information email notice.